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RERA Services
Account for RERA registered projects for real estate builders & landowners
RERA Services
Axis Bank acts as your partner to support you and offer special requirements for realtors/real estate builders and land buyers As per the RERA act, 70 per cent of home buyer funds must be deposited into a separate and dedicated project account so that the funds are utilised only for the project. The withdrawals from the account need to be certified by the project engineer, architect, and chartered accountant as per the form available on RERA website, a copy of which needs to be submitted to the authority. Our RERA services ensure hassle-free management of funds besides complying with RERA regulations.
Features & Benefits
Seamless onboarding
Instant Account Opening
Escrow account
Escrow account for joint development deals
This account comes with a host of unique features:
- Zero Monthly Average balance Requirement
- Extended benefits in cash deposits, withdrawal, chequebook, NEFT and RTGS
- Nil Monthly Service charge
- Classic , Supreme and Platinum options available for debit card. Click here
Fee & Charges
Nil charges for account opening and set up.
Eligibility
- Realtors/Builders and Landowners
Documentation
- All extant KYC guidelines applicable for opening current accounts
- RERA registration certificate & Debits from the account basis project engineer, Architect and charted accontant certificates (Forms available on RERA website)
Value Added Service
- Digital collections through RERA eCollect- receiving funds through physical and e-collections.
- Bulk payment processing through APIs.
- Special Home Loan offers.
- Regulatory tax/GST payments.
Frequently Asked Questions
RERA stands for Real Estate Regulatory Authority, a body established under the Real Estate (Regulation and Development) Act, 2016. It aims to protect the interests of homebuyers and boost real estate investments.
RERA authority provides protection and relief to the buyers by quick dispute redressal.
As per RERA regulations, all real estate developers and landowners, as per eligibility, shall open RERA accounts to route at least 70% of project receivables from home buyers.
All the required certificate formats are available on the RERA website of the states.
Reach out to us at
escrow_rera.products@axisbank.com
