In the unlikely event that a Real Estate Regulatory Agency RERA approved project is cancelled the laws are designed to protect the investor. Your funds which are held in the regulated escrow account do not go to the developer directly. RERA will tak…
In the unlikely event that a Real Estate Regulatory Agency RERA approved project is cancelled the laws are designed to protect the investor. Your funds which are held in the regulated escrow account do not go to the developer directly. RERA will take control of the escrow account and begin a liquidation process to refund investors their deposited money. This legal framework provides a safety net ensuring that your capital is not lost if the project fails to materialize.
This is general information from the website library. Confirm current rules, fees and property details with the relevant authority before acting.
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