RERA Account definition

RERA Account means the separate bank account maintained by Promoter for collection of amounts realized from purchasers of units in the Project, details of which are set out in Clause 3.7 of this Agreement.
Sample 1
RERA Account means and include the account opened with Lender in accordance with provision of RERA Act to be opened with the Lender.
Sample 1
RERA Account means the separate account to be maintained by the promoter in a scheduled bank as per section 4(2)(l)(D) of the Act to cover the cost of construction and the land cost of the project.
Sample 1

Examples of RERA Account in a sentence

  • Bank shall be directed to transfer 70% of the amount received to RERA Account, withdrawl from which shall be certified by the Architect, Engineer and Practicing Chartered Accountant.

  • Foley, Chronic Use of Opioid Analgesics in Non-Malignant Pain: Report of 38 cases, 25(2) Pain 171 (1986).41 R.

  • As per the RERA,2016 at least 70% of money to be deposited in RERA Account.

  • The Authority recommends that the amount withdrawn from the RERA Account shall be utilized for the purpose of completion of the same Real Estate Project.

  • However, there is no end use restriction on the amount which is withdrawn from the RERA Account, in accordance with the provisions of the Act, Rules, Regulations and Directions.

  • In the case of a project where the estimated cost to complete the project is higher than estimated value of sales revenue, hundred percent of the amount collected from the Allottees (other than Pass through Charges and Indirect Taxes) shall be deposited in the RERA Account.

  • In case of a fixed deposit being made from the money lying in the RERA Account, the chartered accountant shall verify that there is no lien or charge on such fixed deposit.

  • As per the second proviso to section 4(2)( l)(D) of the Act which provides that the amounts from the RERA Account shall be withdrawn by the promoter after it is certified by an architect, an engineer and a chartered accountant in practice, that the withdrawal is in proportion to the percentage of completion of the project.

  • The total estimated cost of the project multiplied by such proportion shall determine the maximum amount which can be withdrawn by the Promoter from the RERA Account.

  • However, this Fixed Deposit will created be with the same Bank where RERA Account is opened.

Related to RERA Account

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Sub-Account means any of the individual sub-accounts of a Participant’s Account that is maintained as provided in Article VIII.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • User Account means an account under the name of the Customer in relation to the Service subscribed by the Customer.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Billing Account is the checking account from which all Service fees will be automatically debited.