Tag: Uttar Pradesh real estate

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UP-RERA Directs Banks to Implement New Real Estate Account Norms

NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has urged banks and financial institutions to adhere to the updated banking regulations and operational guidelines for accounts related to RERA-registered real estate projects. The authority conducted an awareness meeting with nationalized and scheduled banks at the Bank of Baroda’s regional office in Lucknow to discuss the revised project account directives issued on May 11, 2026. According to the new regulations, each RERA-registered project must maintain three distinct bank accounts: a collection account, a separate account, and a transaction account. At least 70% of the funds collected from homebuyers must…

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Over 200 Projects Registered with UP-RERA in Early 2025

NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has seen the registration of 208 projects from January to August 2025. In comparison, 259 projects were registered in 2024, with Lucknow and Gautambuddha Nagar leading in project registrations. Sanjay Bhoosreddy, the chairman of UP-RERA, stated, “Our commitment at UP-RERA is to safeguard consumer interests while fostering trust and transparency in the real estate market. The rise in project registrations indicates positive investor sentiment, proactive policies by the state government, and enhanced infrastructure in both metropolitan and tier-II cities.” Enhanced monitoring by RERA has resulted in timely project completions, increased…