RERA Current Account

All you need to know

Features

Seamless Account Setup

Experience a seamless RERA Account opening process with the convenience of using a single set of documentation for opening RERA Master Collection, RERA Project and RERA Transaction Bank accounts.

Exclusive Account Benefits

Open Current Accounts in line with the State’s RERA directive.
Enjoy value-added services like Insurance for your projects, Loan Solutions, Doorstep Banking and many more.
Smart fund management as per the agreed lender terms.
Nil charges for opening and maintaining RERA accounts*.

Easy Regulatory Compliance

Project receivables are deposited and distributed as per RERA regulations with a 70:30 sweep setup
Transactions are fully aligned with RERA state rules to ensure compliance with regulations.

Digital Banking Solutions

Access seamless digital banking for your Expense RERA Account via Mobile Banking and Net Banking services
Track your RERA Account transactions and download account statements anytime, anywhere.
Simplify payments with HDFC Bank’s E-Net digital solution tailored for your businesses*.

Escrow Expertise for Funded Projects

Get a dedicated escrow desk to ensure smooth transaction processing for all your RERA and Escrow accounts

Enhanced Banking Convenience

Seamless digital solutions through POS and QR for collection of project receivables.
Choose your preferred account number with “My Account My Choice”
Book Fixed Deposits as per state-specific directions for better fund management.

Explore our range of banking solutions, specially designed for builder segment. Click the link to know more.

Eligibility Requirements

Promoters/Developers of residential or commercial real estate projects can open RERA Accounts. The projects must be registered (or need to be registered) under the RERA Act, 2016, with the respective state or union territory RERA / RERA authority.

A few of the projects which can be registered under RERA include:

Development of residential projects.
Development of commercial infrastructure projects, such as shops, offices and godowns.
Any ongoing projects for which the completion certificate is still pending.
Plot sale projects.

Frequently Asked Questions

What is RERA in banking?

The Real Estate (Regulation and Development) Act, 2016 mandates developers to have a RERA (Real Estate Regulated Authority) Account for project fund management. A developer must deposit 70% of project receivables from the allottees into the designated project account. This ensures that the funds are used solely for land acquisition and construction costs. Withdrawals from these accounts can only be made based on project completion stages which are certified by a project engineer, architect and chartered accountant. These accounts must be audited annually, with reports submitted to the RERA authority. Non-compliance with RERA Account can result in penalties, compensation to buyers and freezing of the project account.

Who can open a RERA Account?

A RERA Account can be opened by real estate developers or promoters of residential, commercial or plot-sale projects registered (or to be registered) under the RERA Act, 2016. These projects must be registered with the respective state or union territory RERA/RERA authority.

How does a RERA Account help the buyers?

A RERA Account ensures that funds collected from buyers are used solely for the project they invested in. This prevents fund diversion, ensures timely project completion and builds trust by aligning with RERA regulations designed to protect buyer interests.

How to withdraw money from a RERA account?

Money can be withdrawn from a RERA bank account only in proportion to the project’s completion stage. Withdrawals must be certified by a chartered accountant, engineer and architect to ensure that the funds are used for project-specific purposes as per RERA rules.

*Disclaimer: Terms & conditions apply.

RERA Current Account

All you need to know

Features

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