RERA & Escrow Accounts|Safeguarding Homebuyers' Investments

Ans. Escrow accounts mandated by RERA serve the purpose of safeguarding homebuyers' investments in real estate projects. In addition, they prevent fund diversion, ensure project timely completion, and enhance developers' financial discipline.

Ans. Escrow accounts provide an added layer of security to homebuyers' investments by ensuring that the funds are utilised exclusively for the designated project. They minimise the risk of money misuse and project delays and provide a mechanism for grievance solutions in unforeseen circumstances.