RERA-Compliant Accounts, Built for Smarter Project Execution

The Real Estate (Regulation and Development) Act, 2016 requires developers to maintain dedicated project accounts to safeguard customer funds and promote transparency in real estate development.

Shivalik Bank’s RERA Account offering goes beyond compliance. Our solution ensures secure fund segregation, streamlined transaction monitoring and hassle-free account operations—enabling developers to manage project finances efficiently while meeting statutory obligations with confidence. Backed by a strong governance framework and responsive banking support, Shivalik Bank empowers developers to build trust, credibility and long-term value.

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Mandatory Accounts required under RERA Act -

RERA Project Collection Account –

100% of the project collection will be deposited into the RERA Project Collection Account

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RERA Project Designated Account –

70% of the amount from the RERA Project Collection account will be transferred to the Project Designated Account. These funds can only be withdrawn for construction and land costs, verified by a project engineer, architect, and chartered accountant

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RERA Project Transaction Account –

30% of the amount from the RERA project collection account will be transferred to the RERA Project Transaction Account. At Shivalik Bank, Customer can choose a current account as per his requirements

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Frequently Asked Questions +

Features of RERA Accounts

Automated Fund Transfers from collection Account to Designated and Transaction Accounts
Builds trust and transparency
Funds can only be withdrawn in proportion to the project completion on the basis of architect, engineer, and chartered accountant certificate
Get a Transaction Current Account of your choice at Shivalik Bank