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RERA audit in Surat

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    RERA audit

    What is RERA audit?

    According to RERA AUDIT, a chartered accountant must produce a certificate with a set of goals and purposes in order to convey the facts or offer a professional opinion based on the information, justification, and supporting documentation that the promoter has provided. 

    An impartial review of projects registered under RERA is called an audit. A chartered accountant must issue a certificate with the intention of stating the facts or expressing their professional opinion based on the information, justification, and supporting documentation that they have obtained from the developer or promoter. 

    When is a RERA Audit Required?

    Annually

    A RERA audit must be conducted every financial year. 

    Form 5 Submission

    The report should be submitted on Form 5 on the official website of RERA following the audit. 

    Deadline

    Within six months of fiscal year conclusion, the report and audited financial statements must be turned in. 

    Key Requirements for Conducting a RERA Audit

    A valid membership number from a recognized professional body.

    Verification that the money raised for a certain RERA project has only been used for that project. 

    confirmation that withdrawals adhere to the RERA-mandated percentage of project completion. By guaranteeing adherence to RERA standards, this audit contributes to the preservation of accountability and openness in the real estate industry. 

    Get answers to all your queries

    What is RERA Audit?

    An impartial review of a real estate project that guarantees the funds are used only for that project in accordance with RERA regulations is known as an RERA audit. 

    Who conducts the RERA Audit?

    A Chartered Accountant (CA) issues a certificate after verifying financial records and compliance with RERA. 

    Is RERA Audit mandatory?

    Yes it is compulsory for all RERA-registered projects. 

    When should RERA audit be conducted?

    It must be conducted every financial year, and the report should be submitted within six months after the year ends. 

    Where is the RERA Audit report submitted?

    The audit report is filed on the official RERA website in Form 5 along with the financial statements. 

    What does a RERA Audit check?

    It ensures: 

    • Funds collected are used only for the project. 
    • Withdrawals match project completion percentage. 
    • Compliance with RERA financial regulations. 
    What documents are needed for a RERA Audit?
    • Annual statement of accounts. 
    • Project-wise fund utilization details. 
    • Withdrawal records in proportion to project progress.