The regulator says buyers should send booking amounts and instalments only to the designated collection account listed on its official portal, and report requests for transfers elsewhere.
Uttar Pradesh’s real estate regulator has told homebuyers to check bank details carefully before sending any money to a project, warning that payments should go only into the collection account assigned to that development. In an appeal issued on October 12, UP RERA said buyers should confirm the account on its official portal before paying booking amounts, instalments or any other dues.
The regulator said the step is meant to improve transparency and reduce the risk of fraud or fund diversion. Rather than relying solely on account details passed on by a builder or promoter, buyers were urged to verify that the account belongs to the specific registered project and is the one designated for collections.
UP RERA also said homebuyers should report it if a developer asks them to transfer money to any account other than the one allotted to the project. The authority has provided a dedicated link on its portal for such complaints, allowing buyers to flag requests for payment into unauthorised accounts.
The warning fits into a broader push by the regulator to tighten financial discipline in the state’s property market. Recent reporting by Moneycontrol said UP RERA has also moved to stop builders from using homebuyers’ money for assured-return schemes, while requiring registered projects to operate through three separate bank accounts. That approach is designed to make project finances easier to track and to limit misuse of buyer funds.
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