Designated Bank Account (Operation & Guidance)
Every promoter at the time of registration of a real estate project in the application for registration must provide the bank details of the separate bank account to be maintained in a scheduled bank for the purpose of depositing seventy percent of the amount realised for the real estate project from the allottees, from time to time. However, there is a lot of confusion about the utilisation of funds deposited in the designated Bank Account. Following table briefly specifies the allowable and disallowable expenses from the designated bank account.
What makes us different
What sets us apart is our extensive knowledge and expertise in the RERA Act, which enables us to provide end-to-end assistance to our clients. We understand that each case is unique, and we devise customized solutions that cater to the specific needs of our clients. We also believe in transparency and keep our clients informed at every stage of the process. Our team of experts works tirelessly to ensure that our clients get the best in class services they deserve, well within the provisions of the RERA Act.
Our Offering
"Becoming clients first choice, delivering reliable and honest services, and creating value for our clients."
Our Conduct
"Providing most reliable services, by Efficiently & Ethically managing the operations, being accountable to our Industry and demonstrating high ethical standards."
Our People
"Fostering teamwork, nurturing talent, enhancing leadership capability and acting with pace, pride and passion."
Our Policies
"Adherence to our SOP's and Policies help bringing in uniformity in process and operations by clearly defining entity's approach."
Our Approach
"Our consultancy approach is personalized, collaborative, and innovative. We provide tailored solutions for each client's needs to drive success."
Services Offered by us :
- We advise the promoters on the utilisation of funds from the designated bank account as per the requirement of the Act. We provide detailed guidance to the promoters on the above expenses as there is lot of ambiguity in interpretation of the above details. Also, we provide certification service to the promoters which is required at the time of each withdrawal from the designated bank account.