What are the precautionary measures whilst purchasing a property off-plan?
The main issues are ensuring that the developer and the project are both registered with RERA – and that a respective escrow account is opened for such project. All payments must be made into this escrow account – and developers who refuse to incorporate such an account for an off-plan project– or attempts to force a purchaser to make payments away from the escrow account – faces sanctions under the escrow account law.
