Lucknow, Sept. 2 -- The Uttar Pradesh Real Estate Regulatory Authority (UPRERA) has created a new facility on its official web portal enabling allottees to raise issues if any promoter collects money in any account which is not the Collection Account of the project declared on the website of UP RERA.
This facility aims to safeguard the interests of homebuyers and ensure complete transparency and accountability in financial dealings in the real estate sector.
RERA has issued detailed regulations regarding the operation and maintenance of the accounts of the projects by the promoters. These regulations require that the promoter shall receive the money from the prospective or existing allottees only in the Collection Account of the project....