Скачать или смотреть Maha RERA - 3 separate bank accounts in one bank

Maha RERA recently came up with a notification, Order No 56/2024 dt 27th June, 2024 making it mandatory for developers to open 3 separate accounts in one bank-

1) A RERA designated collection account: For money received from homebuyers:

2) A RERA designated separate account for 70% of the project funds: Funds from this account can only be used for a projects land, development and interest costs;

3) A RERA designated transaction account for the balance 30%.

It also makes it mandatory for developers to collect funds for amenities, club house, maintenance etc in the rera collection account only.

This has been done to increase transparency and to maintain financial discipline.

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