menu icon

Noida: 14 builders have two days to open escrow accounts or face recovery certificates

Dated on: Wednesday 30th August 2023

The Noida Authority has given a deadline until August 31st to fourteen developers who have defaulted, requiring them to establish escrow accounts. This decision aims to help the Authority recover the outstanding payments owed by these builders. Currently, six developers have complied by creating such accounts under the Authority's supervision. Around two months ago, the Authority had instructed 59 developers, who collectively owed Rs 7,000 crore, to initiate escrow accounts. The primary purpose of these jointly managed accounts is to discourage the practice of diverting funds collected from homebuyers towards other projects.

More News
jcb truck1 car1 car2 truck2

About RERA Filing

About Us
Site Map
Contact us
RERA Enquiry
Feedback
Become a Partner
Disclaimer
Privacy Policy

RERA Services

Agent Registration
Project Registration
RERA Consultancy
RERA Training
Project Extension
Project Quarterly Compliances
Change in Bank Account
Change in Project Name
Apply for Completion of Project

Useful Links

RERA Blogs
RERA News
RERA Videos
RERA Fees calculator
Infographics
RERA Quiz
RERA Consultancy
Research
Become an Expert
FAQ's
Events
RERA Services

RERA in states

RERA in Maharashtra
RERA in Karnataka
RERA in Telangana
RERA in Andhra Pradesh
RERA in Delhi
RERA in Uttar Pradesh
RERA in Haryana
RERA in Gujarat
RERA in Bihar
View All

Disclaimer - RERA Filing is a private company which do registration and RERA Consultancy. It is not a government organisation.

Copyright © 2024 RERA Filing. All rights reserved.