The promulgation of law no. 8 of 2007 which came into effect in 2007 along with the growth in the real estate development sector, has provided INT Financial ServicesPSC (VHFS) with an opportunity to be one of the approved banks by the Land Department (RERA- The Real Estate Regulatory Agency), to open escrow accounts and therefore be seen as supporting the Government initiative. We have an Escrow Unit (EU), under Corporate Banking Group (CBG), to provide services with regards to escrow account related to real estate development. EU will be single point of contact with regards to escrow accounts, which includes opening of account, maintaining project related details, obtaining quick approvals from RERA as and when required, seamless processing of payment requests in line with RERA regulations and guidelines, providing required details to developer / investors (periodically and/or on request), any clarifications / query with regards to regulations / guidelines related to these escrow accounts etc.
Benefits to Developer
