GujRERA Orders Developers to Open Project Bank Accounts in Gujarat

25 Sep 2024 CW Team

The Gujarat Real Estate Regulatory Authority (GujRERA) has directed all real estate developers to open separate bank accounts for their projects in branches located within Gujarat. This decision follows the discovery that many developers, especially in South Gujarat, were maintaining accounts in Maharashtra, potentially obstructing the enforcement of GujRERA orders.

The directive mandates that ongoing projects with accounts outside the state must immediately transfer them to Gujarat-based branches. This ensures that 70% of funds from allottees, as required by law, are properly allocated for construction and land costs, and the authority can act promptly if needed.

Developers seeking project registration with GujRERA must now comply with this new bank account mandate, following the 2018 RERA Bank Account Directions.

GujRERA | Gujarat Real Estate Regulatory Authority | Real estate developers | Separate bank accounts | Scheduled bank branches | South Gujarat | Project-linked bank accounts | Enforcement of GujRERA orders | RERA Bank Account Directions 2018 | Constructio

Infrastructure Transport

30 Jun 2025

India’s Maha Kumbh of Road Construction

The RAHSTA Forum 2025, held on June 25 at Courtyard by Marriott, Mumbai, delivered powerful insights and dialogue on the future of India’s roads and highways sector. Organised by the FIRST Construction Council, the Forum served as the curtain-raiser to the much-anticipated RAHSTA Expo 2025, set to take place on 3rd and 4th September at the Jio Convention Centre, Mumbai.Union Minister of Roads Transport & Highways Shri Nitin Gadkari, while appreciating the efforts of FIRST Construction Council and ASAPP Info Global Group, commended the awards which recognise excellence across various..

Real Estate

30 Jun 2025

Built to Last, Designed to Impress

The construction and interior design industries stand at the confluence of functionality and aesthetics, where innovation powers the creation of enduring structures and inspiring spaces. At the heart of this process are materials and solutions that enable architects, designers, and builders to realise their visions with precision and reliability.Featuring iconic brands such as Fevicol—synonymous with adhesive solutions—Dr. Fixit, a complete waterproofing system renowned for addressing every critical area of construction, and Roff, a specialist in tile-fixing solutions, Pidilite has earned ..

Infrastructure Energy

30 Jun 2025

New Push to Cut India’s Air Pollution through Power Sector Reforms

In a significant stride toward environmental sustainability, Cummins India introduced CPCB IV+ compliant gensets to India on July 5, 2023, marking a paradigm shift in the power generation industry. These generators are engineered to adhere to the progressive emission norms set by the Ministry of Environment, Forest, and Climate Change. Being the first sets in the field, they have garnered praise for their remarkable achievements in emissions reduction and cutting-edge technology. Powerica, with its four-decade-long partnership with Cummins India Limited, is dedicated to consistently deliver th..