The intent is to ensure that there is complete compliance with the provisions of the Act and the rules and regulations made by RERA.
Developers must now provide a declaration of bank details for projects registered with the Maharashtra Real Estate Regulatory Authority (MahaRERA), according to a notification issued by the regulatory body earlier this month. The notification, signed by the MahaRERA secretary, and chairperson, MahaRERA Conciliation Forum, Vasant Prabhu, states: “Every promoter at the time of registration of a real estate project in addition to providing the bank details of the separate bank account in the application for registration shall provide a Declaration about the separate bank account for the real estate project on the Letterhead of the promoter in the manner of a given format.”
https://www.freepressjournal.in/mumbai/bank-details-of-developer-must-for-rera-registered-projects
Source – Free Press Journal
