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delay of real estate projects

Maintaining Escrow account will be must for builders

Maintaining Escrow account will be must for builders
The draft Real Estate (development and regulatory) Bill has suggested that every builder must maintain escrow account for customer advances and all third-party liabilities so that proper monitoring and use of proceeds is ensured in real estate projects. Last year, the Reserve Bank of India, too, asked banks to put in place an escrow mechanism [...] Continue Reading »



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