CA certificate under RERA
The Chartered accountant shall certify the progress of project in form-3. The CA needs to certify the financial aspect of project. This form shall be uploaded as part of quarterly return under RERA.
What is CA certificate under RERA
contents of CA certificate under rERA
CA certificate shall contain the detailed cost incurred with respect to Land, constructions, and the amount received as booking money.
The details to be shown under the heading Land cost shall include detail cost of Acquisition of land, Development rights of land, Legal cost, premium payable, amount payable to govt. authority. The construction cost shall include estimated and actual cost of construction, payment of taxes by whatever name called, interest payable to financial institution and total of all above costs.
Apart from expenses, CA is supposed to certify how many flats/shops have been booked and how much booking amount or subsequent installments of money have been received by the promoter. The CA is required to give complete details about booking status of every flat/shops in a particular excel sheet format and upload the same while filing quarterly returns.
The Chartered account require the complete details of bookings of flat/shops, amount received on bookings, Expenditure incurred for the purpose as mentioned in the content section.
Importance of CA certificate
When the money of public at large is involved and when the financial institution have given handsome amount of money to the promoter in order to carry out the project, it becomes utmost important for Government authority to keep check on how money is being utilized. The promoters can utilize money of financial institution only for the purpose of project.
responsibility of CA
Chartered accountant is given the responsibility to verify and certify the utilization of money. Any deviation noticed by CA must be reported in this certificate so that timely action can be taken against promoters.
The format Form -3 can be downloaded from government website https://gujrera.gujarat.gov.in/ for projects registered in Gujarat.
