When RERA decides to cancel a project, it must appoint a certified auditor to verify the project�s financial standing and the amounts deposited in the Escrow Account. The law explicitly states that the developer must bear the expense of this audit.…
When RERA decides to cancel a project, it must appoint a certified auditor to verify the project�s financial standing and the amounts deposited in the Escrow Account. The law explicitly states that the developer must bear the expense of this audit. The auditor�s role is to determine exactly how much has been expended and what remains to be refunded to purchasers. This independent financial verification is a mandatory step in the cancellation process, ensuring that the final refund amounts are accurate and fair.
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