Real estate Regulatory Authority


This query is : Resolved 

Quick Summary
This discussion clarifies the process for builders making payments to suppliers from their RERA designated account. While a builder has submitted Form 3 and received approval to withdraw funds, the question arises whether to pay the supplier directly from the designated account or transfer the funds to another account first. The consensus suggests it's better to transfer the funds to another account before making the payment to the supplier.

19 February 2024

Let's suppose builder wants to make payment to it's supplier of Rs. 10 lakh and he already submit form 3 with bank for withdrawal of funds from designated account.

bank accept form 3 and allow to withdraw Rs.30 lakh. Now builder want to use 10 lakh from designated account then here builder can make payment of RS 10 lakh directly from designated account to suppliers bank account or he need to transfer 10 lakh to his other account and then make payment to supplier bank account.

11 May 2024 Better to transfer it to another account, and pay it to supplier.

10 September 2024 Good Luck.


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