Real estate accounting in Bhosari, Pune

Real estate accounting in Pune

Real estate accounting is different because the project, not the financial year, is the unit of work. Collections from allottees, the share that must sit in the separate RERA account, the cost incurred to date, and the percentage of completion each need to be tracked for every project and reported to MahaRERA on its own cycle.

The firm sets up project-wise books, maintains the records behind the quarterly RERA updates, and prepares the chartered accountant's certificates required for withdrawals from the designated account and for the annual audit of the project's accounts. GST on under-construction units, the treatment of development agreements, and TDS on property purchases are handled as part of the same engagement.

For property-holding businesses and rental portfolios the work is simpler but similar: income and expenses by property, TDS by tenants, and a clean record for capital gains when a property is sold.

What the work covers

Project-wise books
RERA quarterly records
CA certificates for withdrawals
Project account audit
GST on under-construction units
TDS on property

For clients in Bhosari and Pimpri-Chinchwad

Projects in Pune and Pimpri-Chinchwad are registered with MahaRERA, so quarterly updates and withdrawal certificates follow its formats and portal.

Common questions

What is the RERA 70% rule?

Under the Real Estate (Regulation and Development) Act, 70% of amounts collected from allottees must be deposited in a separate project account and withdrawn only in proportion to the cost incurred, certified by an engineer, an architect and a chartered accountant.

Is GST payable on every flat sale?

GST applies to units sold before the completion certificate, at concessional rates for residential projects and without input credit. Sales after completion are outside GST. Each project's position is confirmed against its approvals.

Who certifies withdrawals from a RERA account?

A chartered accountant certifies the amounts together with the project engineer and architect, in the formats MahaRERA prescribes.