Prestige Park Phase-II

Project Overview

Prestige Park Phase-II is a lapsed real estate project situated in chakan, Pune, Maharashtra. It is registered under MahaRERA with registration number P52100012663, filed on 14 August 2017. The project comprises 3 buildings with a total of 90 units. The filed unit schedule includes: 10 units of type Shops; 64 units of type Residential 1BHK; 16 units of type Residential 2BHK. The sanctioned completion date is 10 November 2023.

Location & Connectivity

Prestige Park Phase-II is located in chakan, Pune, Maharashtra. Pune's expanding urban fabric offers robust road and rail connectivity through the Pune Metropolitan Region. Chakan is an industrial and logistics hub north of Pune, connected to the Pune–Nashik expressway and proximity to Talegaon industrial zone.

Developer & Approvals

The project is developed by Yashanka Enterprises, operating under the regulatory oversight of MahaRERA. MahaRERA registration number P52100012663 is the definitive identifier for this project; all compliance filings, quarterly progress reports, and escrow account details are accessible on the MahaRERA portal (maharera.mahaonline.gov.in). The project was registered with the authority on 14 August 2017. Maharashtra's Real Estate (Regulation and Development) Act, 2016 mandates that promoters maintain a designated escrow account holding at least 70% of collected amounts, file quarterly progress reports, and obtain Occupancy Certificate before handing possession to buyers. Buyers are advised to verify the current status of this registration—particularly if the RERA status is shown as Lapsed—directly on the portal before entering into any agreement.

Configurations & Amenities

Based on the RERA-filed unit schedule, the project encompasses the following configurations: Shops (9.66-13.55 sq m) × 10; Residential 1BHK (30.82-35.63 sq m) × 64; Residential 2BHK (42.95-46.15 sq m) × 16.

In terms of facilities, the project is designed to provide residents with: 24x7 Security with CCTV, Power Backup, High-Speed Passenger Lifts, Landscaped Gardens, Swimming Pool, Gymnasium, Clubhouse, Children's Play Area, and 6 additional facilities. Additional facilities include Jogging Track, Indoor Games Room, Multipurpose Hall, Ample Visitor Parking, and more. Buyers should confirm the actual scope of facilities against the RERA-filed amenities declaration, as only contractually committed amenities carry regulatory enforceability.

Investment & Buyer Due Diligence

Prestige Park Phase-II, registered under MahaRERA as P52100012663, carries a current status of Lapsed on the MahaRERA portal. A lapsed RERA status indicates that the project's registration has not been renewed or that an extension was not obtained. Buyers considering a lapsed project must exercise heightened caution: verify the promoter's renewal application status, ensure no new bookings are being taken without a valid registration, and seek independent legal advice before committing funds.

For due diligence purposes, buyers should: (a) independently verify the RERA registration, promoter identity, and quarterly filings on maharera.mahaonline.gov.in; (b) inspect the municipal-sanctioned building plan and confirm no deviation from filed plans; (c) confirm the developer's escrow account details to ensure payment protection; (d) review the promoter's track record across all prior projects registered on MahaRERA; (e) engage an independent legal professional to review the Agreement for Sale before payment; and (f) physically inspect the site and neighbourhood connectivity at different times. The agreed possession timeline under RERA is 10 November 2023. Any delay beyond this date entitles buyers to compensation under Section 18 of RERA.