Project Bank Details for Prestige Parklane
Project bank details for Prestige Parklane are declared in the Karnataka RERA filing, which requires every registered project to operate designated accounts rather than mixing buyer money with the promoter’s general funds. The project banks with ICICI Bank at the Bangalore RMZ Infinity branch under IFSC ICIC0005033, and the filing lists three separate account numbers because RERA splits collections into a controlled structure. Understanding that structure protects you more than memorising the numbers.
The Three Accounts and What Each One Is For
Section 4(2)(l)(D) of the Real Estate (Regulation and Development) Act requires seventy per cent of the money collected from buyers to be held in a separate account and used only for construction and land cost of that project. The filing reflects that split directly.
100% collection account: 777705117618, into which buyer payments are received.
70% escrow account: 777705117517, holding the share ring-fenced for construction and land cost of this project.
30% free account: 777705117719, the balance the promoter may apply more generally.
Bank and branch: ICICI Bank, Bangalore RMZ Infinity Branch.
IFSC: ICIC0005033.
The seventy per cent is not simply parked. The promoter can only withdraw from it in proportion to construction actually completed, and only after the architect, the engineer and a chartered accountant each certify the stage reached. That is the mechanism the Form 2 and Form 3 certificates exist to serve.
Why This Structure Protects Buyers
Before RERA, money collected for one project routinely funded another, and buyers discovered the problem only when their own building stalled. The designated account structure was written to stop exactly that.
Ring-fenced funds: Seventy per cent of your money can be spent only on this project.
Certified withdrawals: Money is released against certified construction stages, not on request.
Three independent signatures: Architect, engineer and chartered accountant each certify before a drawdown.
Public disclosure: The account details are on the RERA record, so the arrangement is verifiable rather than promised.
How to Pay Safely
Publishing account details makes them convenient to find, and convenience is exactly what payment fraud exploits. Treat any account number you find online, including this page, as information to verify rather than instruction to pay.
Pay only per your agreement: The account details in your signed agreement for sale and the promoter’s official demand letter are the operative ones.
Verify on the RERA portal: Search PRM/KA/RERA/1251/309/PR/150926/008941 and confirm the bank details match before transferring anything.
Confirm by phone with the promoter: Call a number you obtained independently, not one from an email asking for payment.
Be suspicious of changes: A message announcing that account details have changed is the single most common property payment scam. Verify it directly with the promoter.
Never pay an individual: Payments go to the promoter company’s designated project account, never to a personal account or an agent.
Prestige Parklane Bank Details at a Glance
| Bank Detail | Prestige Parklane |
|---|---|
| Bank Name | ICICI Bank |
| Branch | Bangalore RMZ Infinity Branch |
| IFSC | ICIC0005033 |
| 100% Collection Account | 777705117618 |
| 70% Escrow Account | 777705117517 |
| 30% Free Account | 777705117719 |
| Account Holder | Apex Realty Management Private Limited |
| Statutory Basis | Section 4(2)(l)(D), RERA 2016 |
| RERA Registration | PRM/KA/RERA/1251/309/PR/150926/008941 |
Frequently Asked Questions
The project banks with ICICI Bank at the Bangalore RMZ Infinity branch under IFSC ICIC0005033. The RERA filing lists a 100 per cent collection account (777705117618), a 70 per cent escrow account (777705117517) and a 30 per cent free account (777705117719), held by Apex Realty Management Private Limited.
RERA requires seventy per cent of buyer collections to be held separately and used only for the construction and land cost of that project. The three accounts implement that split: collection, the ring-fenced seventy per cent, and the thirty per cent balance.
No. Withdrawals from the seventy per cent account must be in proportion to construction actually completed, and each drawdown requires certification by the architect, the engineer and a chartered accountant.
Pay only according to the account details in your signed agreement for sale and the official demand letter from the promoter, and verify them against the Karnataka RERA portal before transferring. Never pay into a personal account or to an agent.
Treat it as suspicious. A message announcing changed bank details is the most common property payment fraud. Verify directly with the promoter on a number you obtained independently, and check the RERA portal, before sending anything.
