Affidavit-cum-Declaration for Change of Designated Bank Account (Bank Account Change 06 08 2026)
The Tamil Nadu Real Estate Regulatory Authority issued these forms for a registered project promoter seeking approval to change the project’s designated RERA bank account. The forms require project, financial and construction disclosures, supporting certificates, a freeze on the existing account while the application is pending, and confirmation of the transfer to the new account.
What the forms cover
The Tamil Nadu Real Estate Regulatory Authority forms set out the documents and declarations for changing the designated bank account of a registered real estate project. They do not themselves approve an account change. The promoter must apply for the Authority’s approval and provide details of both the current and proposed accounts.
Who is affected
The Tamil Nadu Real Estate Regulatory Authority process primarily affects the project promoter, including a chief executive officer, managing director or authorised signatory acting for the promoter. It also involves:
- Banks maintaining the existing and proposed RERA accounts.
- Architects certifying the stage of construction.
- Chartered Accountants certifying collections from allottees and use of funds from the date of planning permission.
- Allottees who have entered into sale agreements with the promoter.
Information and supporting records
The affidavit-cum-declaration requires the promoter to disclose:
- The project name, Form-C number and promoter details.
- Planning permission details, total units, units sold and the permission’s validity.
- Existing project bank account details.
- The number of units sold or allotted and the amount collected from allottees.
- Amounts spent on construction and land costs.
- The reason for changing the project account.
- The percentage of construction completed.
The promoter must also file prescribed bank letters, an architect’s construction-stage certificate, a Chartered Accountant’s certificate and a copy of the latest Encumbrance Certificate for the project property.
Account change process
The application to the Tamil Nadu Real Estate Regulatory Authority records the bank name, branch, account number and IFSC code for both accounts. The promoter undertakes to freeze all transactions in the current RERA account until the Authority communicates its decision.
The bank holding the existing account must certify the account details and closing balance. After in-principle approval, the promoter must confirm that the account has been changed and state the amount transferred. The bank holding the new account must certify its details, closing balance, amount credited and credit date.
Protections for allottees
The affidavit-cum-declaration requires the promoter to undertake to inform allottees who have sale agreements about the account change. The promoter also agrees to indemnify an allottee for loss caused by diversion of funds from the designated account and assures completion and handover within the period stated in the agreement.
This summary is generated from the source document to help you find what is relevant. The PDF above is authoritative. For advice on your own property, use LandLens One or speak to a qualified professional.
Common questions
Can a promoter continue using the existing RERA account while approval is pending?
No. The application contains an undertaking to freeze all transactions from the current RERA account until the Tamil Nadu Real Estate Regulatory Authority communicates its decision.
Must homebuyers be informed when the designated account changes?
The promoter undertakes to inform allottees who have entered into sale agreements about the change of designated account.
What certificates must support the account change request?
The promoter must file prescribed bank letters, an architect’s certificate on the construction stage, a Chartered Accountant’s certificate on collections and use of funds, and the latest Encumbrance Certificate for the project property.
What must be submitted after the money is moved to the new account?
The promoter must confirm the account change and the amount transferred. The bank holding the new RERA account must certify the account details, closing balance, amount credited and date of credit.
