UP RERA takes major action against builders, brings relief to homebuyers in Greater Noida

Noida homebuyers, are you aware of a significant new mandate from UP RERA impacting Greater Noida projects? To curb financial mismanagement and ensure timely completion, builders must now maintain three separate bank accounts for each registered project. A crucial 70% of buyer funds is now legally earmarked solely for construction and land acquisition, aiming to safeguard your investments. This direct action by RERA is designed to prevent delays and protect buyers. Do you think this new regulation changes the market outlook for real estate investments in Noida?