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Raipur : Chhattisgarh Real Estate Regulatory Authority, in an important initiative towards strengthening transparency, financial discipline and effective compliance of the Real Estate Act, 2016 in the real estate sector in the state, has included 14 banks in the final empanelment.
For the purpose of effective implementation of the provisions of the RERA Act, 17 banks were included in the provisional empanelment by Chhattisgarh RERA on 03 April 2025. After fulfilling the prescribed procedures, necessary conditions and parameters, now 14 of these banks have been included in the final panel.
The banks included in the final panel include AU Small Finance Bank, Bank of Baroda, Chhattisgarh Gramin Bank, Canara Bank, DCB Bank, Federal Bank, Indian Bank, Indian Overseas Bank, Karnataka Bank, Punjab National Bank, Punjab and Sindh Bank, State Bank of India and UCO Bank.
The main objective of this initiative is to ensure that separate RERA accounts related to real estate projects registered under the RERA Act are operated only in those banks which fully comply with the RERA rules and guidelines. This will establish discipline in the financial management of projects, increase transparency in the utilization of funds and ensure effective protection of the interests of home buyers.
In this regard, Chhattisgarh RERA Chairman Sanjay Shukla said that ensuring financial discipline and transparency in projects registered under RERA is one of the top priorities of the authority. With the inclusion of banks in the final panel, the monitoring and control system of project accounts will be further strengthened, which will increase the confidence of home buyers and make the real estate sector in the state more organized and reliable.
Chhattisgarh RERA has also clarified that such initiatives will continue in the future to make the real estate sector in the state transparent, systematic and trustworthy.
