Section 4: registration disclosures and the separate account

What must the registration application explain?

Section 4 requires project, promoter, approval, plan, unit and professional information together with the prescribed declarations. The documents should describe one consistent project or phase. Title rights, land boundaries, sanctioned inventory and completion commitments need reconciliation; uploading unrelated documents does not resolve an inconsistency merely because each file is genuine.

Prepare a master schedule and compare it with the title material, plans, proposed agreement and cost records. Clearly disclose the extent of approvals obtained. Identify the person authorised to make declarations and preserve the submitted version.

What financial safeguard does Section 4 create?

Section 4(2)(l)(D) requires seventy per cent of allottee realisations in a separate scheduled-bank account for land and construction costs, progress-linked withdrawals certified by an engineer, architect and practising CA, and an audit within six months after financial year-end. These requirements are distinct from ordinary bookkeeping or lender security arrangements.

MahaRERA Order 56/2024 adds operational bank-account directions and states that the designated separate account is not an escrow account. Review the applicable structure and later directions for the specific project. Generic certificate names are used here pending owner verification of current formats.

Official sources

• RERA Act, Section 4(2), especially clause (l)
• MahaRERA Order 56/2024

Read registration preparation and designated-account compliance.

Editorial source check: 2026-10-24. Owner-approved for publication. No independent professional legal review or named professional authorship is claimed. “Last reviewed” records an editorial update, not legal sign-off. Check applicable amendments, orders and case-specific law before reliance.

General information, not legal advice. Authorship and review policy.