Bihar RERA’s revised project-bank-account procedure sets out how registered projects are to route buyer receipts: all collections enter a Master Account, then an end-of-business-day sweep sends at least 70% to a project account and no more than 30% to a promoter account. The 70% requirement itself is not new; the September order adds operating detail around the accounts and withdrawals.
What changed in Bihar
The authority’s Office Order No. 288, dated 21 September 2026 and listed on the Bihar RERA noticeboard the next day, revises an earlier project-account SOP. It directs a three-account arrangement for each registered project:
- A RERA Master Account receives the project’s allottee receipts.
- At the close of business each day, an automatic sweep transfers at least 70% to the RERA Project Account and no more than 30% to the RERA Promoter Account.
- The Project Account is for permitted land and construction costs. A withdrawal must be proportionate to project completion and supported by certificates from an architect, engineer and practising chartered accountant.
The order also requires prior written approval before the designated project accounts are changed. These are Bihar RERA directions; they should not be presented as a new all-India procedure.
The 70% rule predates the order
Section 4(2)(l)(D) of the Real Estate (Regulation and Development) Act, 2016 already requires 70% of amounts realised from allottees to be deposited in a separate scheduled-bank account for land and construction costs. It also ties withdrawals to the percentage of completion and professional certification. The new Bihar SOP makes the routing more explicit; it does not create the underlying 70% rule.
A buyer’s account-checking questions
For an under-construction Bihar project, a buyer can ask the promoter which account is named for instalment payments, whether it is the project’s designated Master Account, and what records identify the linked Project Account. Keep the answers and payment instructions with the agreement and receipts. If the project’s bank details or payment instructions change, ask for the written RERA approval required by the order before relying on the new details.
These questions help a buyer compare paperwork. They do not give an individual buyer control over the account or prove that every withdrawal has complied with the SOP. The order does not guarantee completion, possession on time, or a refund if a project fails.
For a different RERA-related buyer remedy, BestProp.ai has reported on a Bengaluru order over promised amenities. That Karnataka case is separate from Bihar’s account-routing procedure.
Does Bihar’s order introduce the 70% requirement?
No. The Act already contains the separate-account requirement. Bihar RERA’s September 2026 order describes how its revised SOP routes funds and controls project-account withdrawals.
Does the account structure prove a project is safe?
No. It is a regulator-directed process, not evidence that a particular promoter or bank has followed it, and not a guarantee of delivery.
Sources and limits
The Bihar RERA order and its noticeboard listing establish the state-level procedure and dates. The RERA Act establishes that the 70% requirement predates the order. The order describes a compliance process; these documents do not verify any individual project’s bank activity.