Introduction
The Indian real estate sector has historically faced challenges in transparency, delays, and buyer dissatisfaction. To resolve these systemic issues and instil confidence among homebuyers, the government introduced RERA (Real Estate Regulatory Authority) through the Real Estate (Regulation and Development) Act, 2016.
In 2025, RERA is no longer just a formality—it is a critical legal and reputational compliance. At TaxMyles, we help developers and promoters meet their RERA obligations efficiently, while ensuring that projects remain audit-ready and investor-compliant.
🧱 What is RERA?
RERA is a central legislation implemented by states to regulate the real estate sector, aiming to:
- Protect homebuyers
- Improve transparency in project execution
- Ensure timely delivery of projects
- Enforce accountability of promoters and agents
Every residential or commercial real estate project above a specified size must be registered under RERA before advertising, marketing, or selling.
⚖️ Key RERA Compliance Requirements
✅ 1. Project Registration
All new projects must be registered with the respective State RERA authority. Documentation includes:
- Title documents of the land
- Sanctioned layout and building plans
- Estimated project cost and timeline
- Developer credentials
✅ 2. Separate Bank Account
Developers must maintain a separate account for each RERA project, where 70% of customer advances must be deposited. This ensures funds are used only for construction and land-related expenses.
✅ 3. Quarterly & Annual Updates
- Quarterly project progress updates (sales, construction status)
- Annual RERA audit report by a Chartered Accountant
✅ 4. Timely Completion
The declared timeline is binding—delays without valid extensions attract penalties, interest payouts, and potential litigation.
✅ 5. Disclosure of Agents and Consultants
Only RERA-registered real estate agents can be engaged, and their details must be declared.
🔍 What Happens If You Ignore RERA?
Non-compliance with RERA can result in:
- Penalties up to 10% of project cost
- Imprisonment for continued violations
- Revocation of registration and project de-listing
- Buyer complaints and reputational damage
- Delay in project funding or bank approvals
🧠 RERA Services at TaxMyles
We provide end-to-end RERA compliance support, from registration to audit.
💼 Our Offerings Include:
- RERA Registration (State-wise)
- Project Documentation & Declarations
- Fund Utilization Monitoring
- RERA Audit & Annual Reporting
- Quarterly Progress Reporting
- Extensions & Modifications Filing
- Developer-Homebuyer Advisory
- RERA Litigation Support & Representation
🏗️ Specialized RERA Audit Support
RERA requires a Chartered Accountant’s certification confirming:
- Proper utilization of project funds
- Compliance with construction and development plans
- Certification of percentage of completion (PoC)
- Matching of inflows with work-in-progress (WIP)
We offer:
- Project-wise fund analysis
- Bank ledger review & fund flow
- Reconciliation of invoices, advances, and statutory dues
- RERA-compliant audit report issuance
🧩 Who Needs RERA Support the Most?
- Real estate developers starting or updating residential/commercial projects
- Joint venture partners unsure of roles in compliance
- Builders with ongoing projects requiring fund and timeline monitoring
- Investors and consultants needing verified compliance for funding or sale
💬 Real Benefits of RERA Compliance
| Benefit | How It Helps |
|---|---|
| ✅ Buyer Trust | Builds brand credibility and market acceptance |
| ✅ Faster Approvals | Banks and NBFCs prefer RERA-compliant builders |
| ✅ Legal Safety | Avoids penalties and project halts |
| ✅ Sales Acceleration | RERA numbers instill buyer confidence |
| ✅ Project Efficiency | Quarterly reviews push timely execution |
📣 Final Word
RERA compliance is not a burden—it’s a business enabler. It brings discipline, improves trust, and opens the door to funding and partnerships. For developers who aim to grow with integrity, RERA is an asset, not a challenge.
At TaxMyles, we understand the pain points of real estate developers. Our specialized RERA and project financial services help you stay focused on what you do best—building projects, while we take care of compliance, analysis, and reporting.
📞 Let’s build your compliance foundation. Schedule your RERA consultation today.
