RERA Audit.
The RERA Act requires promoters to have their project accounts audited by a chartered accountant in practice within six months after each financial year. The audit confirms that money collected for a project was used for that project and that withdrawals matched the percentage of completion. We carry out this audit, test the designated account and issue the reports RERA requires.
Typically 2–3 weeks per project once the year-end books are ready, depending on the number of withdrawals and bank accounts; the Act requires the audit within six months after the year end.
A partner — a chartered accountant or company secretary — from the first call to sign-off.
Based on your situation, and fixed in writing before any work starts.
Is this for you?
- Promoters of every registered project, each financial year until completion.
- Developers who need a chartered accountant's certificate (Form 3 in Maharashtra) for each withdrawal from the designated account.
- Lenders and joint development partners who want independent comfort on how project funds are used.
What you receive at the end.
- 01Audit findings memo
- 02Annual report on the statement of accounts (Form 5 in Maharashtra)
- 03Chartered accountant's certificates for withdrawals (Form 3 in Maharashtra), where engaged
- 04Recommendations to correct fund-flow exceptions
RERA Audit, step by step.
Typically 2–3 weeks per project once the year-end books are ready, depending on the number of withdrawals and bank accounts; the Act requires the audit within six months after the year end.
- 1
Audit planning
We understand the project structure, bank accounts, cost budgets and any revenue-sharing with landowners, and agree the audit plan.
- 2
Collections testing
We test that allottee collections went into the collection account and that 70% was moved to the designated separate account, as the Act requires.
- 3
Withdrawals testing
We test each withdrawal against the architect's, engineer's and chartered accountant's certificates and the stage of completion, and check that it funded land and construction cost of that project.
- 4
Audit reporting
We issue the annual report on the statement of accounts (Form 5 in Maharashtra), with any exceptions set out.
- 5
Fixing exceptions
Where we find shortfalls or excess withdrawals, we explain what needs correcting and how to restore the account.
What we need from you.
Don't have everything yet? We send a short checklist after the first call and work with what you have.
- Project-wise books, cost ledgers and budgets
- Statements for all project bank accounts
- Agreements for sale and allottee collection records
- Architect's and engineer's certificates for each withdrawal
- Land and approval cost records
- Joint development or revenue-share agreements, if any
The fee depends on your situation. After a short call, the partner who will do the work tells you what's involved and gives you a fixed fee in writing — before any work begins.
- Government fees and statutory charges are billed at actuals.
- When you pay — upfront, in stages or on completion — is agreed in writing with the fee.
Questions about RERA Audit.
Ready to discuss RERA Audit?
30-minute confidential call — no proposal, no commitment. A partner will write back within one business day.