Lucknow, May 30 -- The UP Real Estate Regulatory Authority (RERA) has cautioned homebuyers to verify from the UP RERA before investing in a real estate project. Issuing an advisory on Thursday, the UP RERA urged homebuyers that they should collect all the information related to the promoter and the project in question. All relevant information related to a project approved by the UP RERA is available on its portal, said RERA. The homebuyer should be aware of the land of the project, the map of the project, other clearances or approvals of the project and specifications of the project, added RERA. "It is also important for them to know about the credibility of the promoter, his reliability and his financial status. The UP RERA has provided all information about promoters on its portal," said Sanjay Bhoosreddy, chairman, UP RERA. "The homebuyer should go to the homepage of the RERA portal, click on "Registered Projects" in the search link on the home page. A list of promoters and projects will open in front of him. On this page, he should search by giving the name of the promoter or the project or the registration number of the project," Bhoosreddy added. He asserted that consumers could benefit from the RERA's regulatory work only when they themselves remain vigilant and do not invest in haste or on the basis of incomplete information. It may be pointed out that in a bid to strengthen transparency in execution of project and check misappropriation of funds, the UP RERA has made disclosure of funds collected from homebuyers mandatory for promoters to ensure transparency. The regulatory authority took the decision after getting complaints that promoters were not depositing funds received from allottees into designated 'Collection' account. After coming across several complaints related to misappropriation of funds by promoters, the UP RERA has warned stern action and legal consequences for violators. According to the Real Estate (Regulation and Development) Act, 2016, promoters are mandated to keep 70 percent of the funds received for project development in the projects' 'Separate Account' and use them exclusively for construction work. As per guidelines issued by UP RERA, every promoter must provide details of three project accounts, Collection, Separate and the Transaction accounts, on the UP RERA portal....