What is the Project Bank Details for TVS Emerald Avalon?

The project bank details for TVS Emerald Avalon point to ICICI Bank, Chennai Branch, as the official banking partner holding the RERA accounts under the legal business name EMERALD HAVEN LIFE SPACES 3 PRIVATE LIMITED. Located along the Radial Road in Pallavaram, Chennai, this housing community operates under state real estate rules with registered approval from the local property authority.

Under real estate law, builders must place all buyer money into monitored bank accounts. This rule stops builders from moving your cash to other projects.

When you buy a home here, your booking fee, stage payments, and bank home loans go into these safe accounts. The banking network makes sure your money pays only for the land and the actual building work of your tower. This clear setup keeps your savings safe, creates clear proof of payment, and protects your home purchase at every step.

Official Project Bank Account Snapshot for TVS Emerald Avalon

TVS Emerald Avalon buyer payments are held with ICICI Bank under the firm name EMERALD HAVEN LIFE SPACES 3 PRIVATE LIMITED. The bank accounts are based in Chennai, Tamil Nadu, in line with the project’s state requirements.

Statutory RERA Account Breakdown

State law splits all home cash into three simple pots: the main intake account, a locked building vault, and a basic office account. Every rupee paid for a home moves through these three accounts:

• RERA Collection Account (Full Inflow Account): This main account takes in your booking fee, part payments, and home loan cash. The builder cannot pull cash straight from here to pay daily office bills.
• RERA Separate Account (Main Building Escrow Account): Most of your cash moves into this locked building vault to pay for cement, steel, bricks, and land. Cash leaves this vault only when the site team and cash experts check and clear real work on the ground.
• RERA Transaction Account (Day-to-Day Expense Account): The small rest of the cash goes here to run the firm. The builder uses this cash to pay sales staff, run ads, and pay for office work.

Safe Payment Steps for Homebuyers and Banks

Paying for a home needs clear steps so your cash lands in the right place with no delays. Keep these simple rules in mind before you send any money:

• Check the Payee Name Carefully: Make out all cheques, drafts, and bank wire slips only to EMERALD HAVEN LIFE SPACES 3 PRIVATE LIMITED. Never send cash to sales agents, broker firms, or personal names.
• Send Funds Only to the Master Collection Account: Tell your loan bank to send funds only to the main collection account. The banking system then shifts the building share into the locked vault on its own.
• Add Your Flat Details in the Payment Note: Write your full name, tower name, and flat unit in the transfer note box. Share your bank transfer slip right away with the accounts team so they can match your payment fast.
• Collect an Official Receipt Promptly: Ask for a firm signed receipt within a few days of your transfer. Keep every receipt and paper safe in one folder for your tax and home sign-off files.

Frequently Asked Questions