Financial institutions need to provide details of banks accounts of real estate projects, says Uttar Pradesh RERA
Priya Singh | 2023-11-16
Financial institutions need to provide details of banks accounts of real estate projects, says Uttar Pradesh RERA
The objective of this process was to ensure the utilisation of funds collected for the particular project, is being used only in construction and development of that project by the promoters. (Express file photo of apartments in Greater Noida
Uttar Pradesh Real Estate Regulatory Authority (UP RERA) Friday said it has devised a new roadmap to solve the ongoing issues of homebuyers, which includes making the banking process related to real estate projects more stringent and transparent.
The authority said that along with the promoters, now it will also be the responsibility of the financial institutions and banks to provide information about the bank accounts opened for real estate projects to UP RERA.
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