The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has urged homebuyers to exercise caution while making payments for properties and deposit money only into the designated collection account of the concerned real estate project. The Authority has advised buyers to verify the collection account details through the official UP RERA portal before making any payment.

UP RERA has emphasised that verifying account details before transferring money is an important step towards ensuring transparency in financial transactions and protecting homebuyers from potential financial risks. Buyers should ensure that payments towards property bookings, instalments or other dues are deposited into the designated collection account of the respective project.

Report Requests for Payment into Other Bank Accounts

The Authority has advised homebuyers to inform UP RERA if a builder or promoter asks them to deposit money into a bank account other than the designated collection account of the concerned project.

Homebuyers can submit the relevant information through the dedicated link available on the UP RERA portal.

Three Key Precautions for Homebuyers

• Pay only into the designated collection account: Deposit the property payment into the collection account specified for the concerned project.
• Verify account details before payment: Check and confirm the collection account details on the official UP RERA portal before transferring funds.
• Report requests for payment into other accounts: Inform UP RERA if a builder or promoter asks for payment into an alternative bank account.

Through this advisory, UP RERA aims to promote transparency in real estate transactions and encourage homebuyers to adopt safe payment practices. The Authority has urged buyers to verify account details before making payments and promptly report any discrepancies through the designated portal link.