RERA

AXIS Bank acts as your partner to support and offer special requirements for Real Estate developers and Land buyers.

As per RERA Act it is mandatory to deposit 70 per cent of project receivables into a separate& dedicated project account so that these funds are utilized for Project.

The withdrawals from the account need to be certified as per form available on RERA website by the Project Engineer, Architect and Chartered Accountants and copy of the same needs to be submitted to the authority.

Our RERA services ensure hassle free in managing your funds besides complying with RERA Regulations, Automated & robust technology supported accounts with ensure timely availability of funds & smooth execution of transactions.

Eligiblity : Real estate developers and landowners
Documentation: All extant KYC guidelines applicable to opening current accounts

Transaction enablement through Internet Banking services.

Fixed Deposit, Current Account, Savings account

• What does RERA stands for?
RERA stands for Real estate (Regulation and Development) Act,2016.

• What is the role of RERA?
RERA authority provides protection and relief to the buyers by quick dispute redressal.

• Is it mandatory for real estate developers to open RERA account?
As per RERA regulations all the real estate developers and landowners as per the eligibility shall open RERA account to route atleast 70% of project receivables from the home buyers.

• Where is certificate format available?
All the required certificate formats are available on the RERA website of the states.

Option can be provided wherein customer can provide details like Name, Phone no, Product type, Customer type.

Reach us out at escrow_rera.products@axisbank.com