The Chhattisgarh Real Estate Regulatory Authority has taken a significant step to strengthen transparency, financial discipline, and effective implementation of the Real Estate (Regulation and Development) Act, 2016 by including 14 banks in its final empanelment.

Earlier, on 3 April 2025, Chhattisgarh RERA had provisionally empanelled 17 banks to support the effective enforcement of the RERA framework. After completion of the prescribed procedures and fulfillment of all eligibility conditions and benchmarks, 14 of these banks have now been granted final empanelment.

The banks included in the final panel are 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 & Sind Bank, State Bank of India and UCO Bank.

The primary objective of this initiative is to ensure that separate RERA-designated accounts of registered real estate projects are maintained only with banks that fully comply with RERA rules and guidelines. This measure is expected to bring greater discipline in project-level financial management, improve transparency in the use of funds, and strengthen protection of homebuyers’ interests.

Commenting on the development, Chhattisgarh RERA Chairman Sanjay Shukla said that ensuring financial discipline and transparency in RERA-registered projects remains one of the authority’s highest priorities. He noted that the final empanelment of banks would further reinforce monitoring and control mechanisms over project accounts, thereby boosting homebuyer confidence and contributing to a more organised and credible real estate sector in the state.

Chhattisgarh RERA has also clarified that similar initiatives aimed at making the state’s real estate ecosystem more transparent, structured, and trustworthy will continue in the future.