Odisha RERA Demands Builder Accountability

05 Mar 2024 CW Team

RERA's decision to require builders to disclose project-related bank account details is a strategic measure to monitor fund utilization, preventing misuse and diverting funds to other projects. By enhancing financial oversight, RERA aims to instil confidence among homebuyers, reassuring them that their investments are protected and will be used exclusively for the designated project's development.

This move aligns with RERA's broader mission to establish a fair and accountable real estate environment. Builders, by complying with this directive, not only contribute to the transparency of their operations but also demonstrate a commitment to ethical business practices. The disclosed financial information will be instrumental in ensuring that projects progress as planned, with funds allocated appropriately for construction and other related activities.

Homebuyers stand to benefit significantly from this regulatory measure. The increased transparency minimizes the risks associated with financial mismanagement, delays, or project abandonment. Potential investors can make informed decisions, confident that RERA's stringent oversight mitigates potential pitfalls in the real estate landscape.

As Odisha RERA takes proactive steps to fortify the real estate sector, this directive serves as a cornerstone in building a trustworthy and accountable industry. By requiring builders to divulge their project-specific bank account details, RERA sets a precedent for other regions to follow, fostering a culture of financial responsibility and integrity in the realm of real estate development.

In a significant move towards ensuring transparency and accountability in the real estate sector, the Odisha Real Estate Regulatory Authority (RERA) has mandated builders to submit detailed bank account information for their ongoing projects. This initiative, aimed at promoting financial integrity within the industry, underscores the commitment of RERA to safeguarding the interests of homebuyers and fostering a robust real estate market. RERA's decision to require builders to disclose project-related bank account details is a strategic measure to monitor fund utilization, preventing misuse and diverting funds to other projects. By enhancing financial oversight, RERA aims to instil confidence among homebuyers, reassuring them that their investments are protected and will be used exclusively for the designated project's development. This move aligns with RERA's broader mission to establish a fair and accountable real estate environment. Builders, by complying with this directive, not only contribute to the transparency of their operations but also demonstrate a commitment to ethical business practices. The disclosed financial information will be instrumental in ensuring that projects progress as planned, with funds allocated appropriately for construction and other related activities. Homebuyers stand to benefit significantly from this regulatory measure. The increased transparency minimizes the risks associated with financial mismanagement, delays, or project abandonment. Potential investors can make informed decisions, confident that RERA's stringent oversight mitigates potential pitfalls in the real estate landscape. As Odisha RERA takes proactive steps to fortify the real estate sector, this directive serves as a cornerstone in building a trustworthy and accountable industry. By requiring builders to divulge their project-specific bank account details, RERA sets a precedent for other regions to follow, fostering a culture of financial responsibility and integrity in the realm of real estate development.

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Infrastructure Urban

01 Jun 2026

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

Infrastructure Urban

01 Jun 2026

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..