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RERA
Axis Bank acts as your partner to support and offer special requirements for real estate developers and land buyers. As per the RERA Act, 70 per cent of project receivables must be deposited into a separate and dedicated project account so that these funds can be used for the project. The withdrawals from the account need to be certified by the project engineer, architect, and chartered accountants, as per the form available on the RERA website. A copy of this certification must be submitted to the authority. Our RERA services ensure hassle-free management of your funds while complying with the RERA regulations. Automated and robust technology-supported accounts ensure the timely availability of funds and smooth transaction execution.
Eligiblity & Documentation
Eligibility
Real estate developers and landowners
Documentation
All extant KYC guidelines applicable to opening current accounts
Fees & Charges
No charges for account opening and set-up.
Value Added Services
- Transaction enablement through internet banking services.
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You can provide details like name, phone number, product type, and customer type.
Frequently Asked Questions
RERA stands for Real Estate Regulation and Development Act.
RERA authority provides protection and relief to the buyers by quick dispute redressal.
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.
All the required certificate formats are available on the RERA website of the states.
Contact Us
Reach out to us at escrow_rera.products@axisbank.com
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