Haryana Government Gazette
Published by Authority
© Govt. of Haryana
No. 29-2020] CHANDIGARH, TUESDAY, JULY 21, 2020 (ASADHA 30, 1942 SAKA)
PART III
Notifications by High Court, Advertisement, Notices and Change of Name etc. HARYANA REAL ESTATE REGULATORY AUTHORITY, GURUGRAM
Notification
The 6th July, 2020
The Haryana Real Estate Regulatory Authority, Gurugram
[Compliance of Section 4(2)(1)(D] Regulations, 2020
No. 18/RERA GGM/Regulations 2020.—
In exercise of the power conferred by section 37 of the Real Estate (Regulation and Development) Act, 2016 the Haryana Real Estate Regulatory Authority, Gurugram having considered it necessary for the legitimate utilisation of funds by the promoter as per the provisions contained in third proviso to section 4(2)(l)(D) of Real Estate (Regulation and Development) Act, 2016 which provides that the promoter shall get his accounts audited within six months after the end of every financial year by a Chartered Accountant in practice, and shall produce a statement of accounts duly certified and signed by such Chartered Accountant and it shall be verified during the audit that the amounts collected for a particular project have been utilised for the project and the withdrawal has been in compliance with the proportion to the percentage of completion of the project, the Haryana Real Estate Regulatory Authority, Gurugram has issued the directions "Directions regarding [Compliance of Section 4(2)(l)(D) of the Real Estate (Regulation and Development) Act, 2016]" vide no. 2/RERA GGM Direction 2020 as notified by Government of Haryana Gazette No. 12-2020 CHANDIGARH, TUESDAY, MARCH 24, 2020 (CHAITRA 4, 1942 SAKA) dated 2nd March, 2020.
In exercise of the powers conferred on it under section 85 of the Real Estate (Regulation and Development) Act, 2016 and all others powers enabling it in that behalf, the Real Estate Regulatory Authority, Gurugram hereby makes the Haryana Real Estate Regulatory Authority, Gurugram, [Compliance of Section 4(2)(l)(D)] Regulations, 2020 as under:
Short Title, Object, Commencement and Extent:
1. (a) These Regulations may be called The Haryana Real Estate Regulatory Authority, Gurugram, [Compliance of Section 4(2)(l)(D)] Regulations, 2020.
(b) These Regulations are meant to specify the format for compliance of section 4(2)(l)(D) by the promoters.
(c) These Regulations will come into force from the date of their publication in the Official Gazette;
(285)HARYANA GOVT. GAZ., JULY 21, 2020 (ASAR. 30, 1942 SAKA) PART III] 286 (d) These Regulations shall be applicable throughout the jurisdiction of the Haryana Real Estate Regulatory Authority, Gurugram.
(e) These Regulations shall be read with "Directions regarding [Compliance of Section 4(2)(l)(D) of the Real Estate (Regulation and Development) Act, 2016]"
Definitions
2. (a) Unless the context otherwise requires in these regulations: -
(i) "Act" means the Real Estate (Regulations and Development) Act, 2016 as amended from time to time;
(ii) "Authority" means the Haryana Real Estate Regulatory Authority, Gurugram;
(iii) "Directions" means Directions regarding [Compliance of Section 4(2)(l)(D) of the Real Estate (Regulation and Development) Act, 2016]
(iv) "Employee" means all officers and staff engaged by the Authority against sanctioned posts in accordance with these Regulations;
(v) "Regulations" means the Haryana Real Estate Regulatory Authority, Gurugram (Recruitment and Conditions of service of Employees), Regulations, 2018 as amended from time to time;
(vi) "Rules" means the Haryana Real Estate Regulatory Authority (Regulation and Development) Rules, 2017 as amended from time to time;
(b) The words or expressions occurring in these Regulations and not defined herein but defined in the Act or the Rules shall bear the same meanings as assigned to them in the Act and the Rules;
Compliances under section 4(2)(l)(D) of The Real Estate (Regulation and Development) Act, 2016
3. Section 4(2)(l)(D) of the Real Estate (Regulation and Development) Act, 2016 states the following provision:
(a) The seventy percent of the amount realized for the real estate project from the allottees, from time to time, have been deposited in a separate account maintained in a Scheduled Bank to cover the cost of construction and the proportionate land cost and been used for that purpose.
(b) That the promoter has withdrawn the amount from the separate account, to cover the cost of the project, in proportion to the percentage of completion of the project.
(c) That the amounts from the separate account have been withdrawn by the promoter after it is certified by an Engineer, an Architect and a Chartered Accountant in practice that the withdrawal is in proportion to the percentage of completion of the project.
(d) That the promoter has to get his accounts audited within six months after the end of every financial year by a Chartered Accountant in practice and has produced a statement of accounts duly certified and signed by such Chartered Accountant.
(e) That it has been verified during the audit that the amounts collected for a particular project have been utilized for that project and the withdrawals have been in compliance with the proportion to the percentage of the project.
Formats for submission of information regarding compliance of section 4(2)(l)(D)
4. Following formats are specified for submission of information regarding compliance of section 4(2)(l)(D) (a) Master account related certification by the Chartered Accountant in compliance of section 4(2)(l)(D) of the Real Estate (Regulation and Development) Act, 2016 – AFS – IPART III] HARYANA GOVT. GAZ., JULY 21, 2020 (ASAR. 30, 1942 SAKA) 287 (b) Separate RERA Account related certification by the Chartered Accountant in compliance section 4(2)(l)(D) of the Real Estate (Regulation and Development) Act, 2016 – AFS – II
(c) Expenditure out of separate RERA Account related certification by the Chartered Accountant in compliance of section 4(2)(l)(D) of the Real Estate (Regulation and Development) Act, 2016 – AFS – III (d) Financial Statement in respect of viability of the project – AFS – IV
(e) Statement of Accounts – AFS – V
(i) Balance Sheet – AFS – V (A)
(ii) Income and Expenditure – AFS – V (B)
(iii) Cash Flow – AFS – V (C)
(f) Financial progress at the end of the financial year – AFS – VI
(g) Physical progress at the end of the financial year – AFS – VII
(h) Undertaking regarding utilisation of funds received from the allottees for the project only – AFS – VIII Procedure
5. (a) The promoter shall get his accounts audited within six months after the end of every financial year by a Chartered Accountant in practice.
(b) The promoter shall produce a statement of accounts duly certified and signed by such Chartered Accountant.
(c) The Chartered Accountant shall verify during the audit that the amounts collected for a particular project have been utilised for that project.
(d) The Chartered Accountant shall further verify that withdrawals from the separate RERA account have been incompliance with the proportion to the percentage of completion of the project.
(e) The promoter and the Chartered Accountant after audit shall compile information in formats AFS I; AFS II; AFS III; AFS IV; AFS V; AFS VI; AFS VII and AFS VIII.
(f) The promoter shall submit the following on or before 30th September after the end of every financial year.
(i) Annual report on statement of accounts as attached with the directions (for ready reference annexed with these regulations also).
(ii) Information in the formats as mentioned in the regulation 5(e) above.
(iii) Copy of all CA Certificates submitted at the time of withdrawal from RERA account maintained as per Haryana Real Estate Bank Account Directions 2019.
(iv) Copy of Annexures A, B and C for all four quarter & required to submit with Report.
Fee for delay in submission of information
6. The Authority in exercise of powers conferred under section 34(e) specify a fee of rupees ten thousand for delay of every day upto maximum of one month. For delay of more than one month but less than three months the late fee shall be rupees twenty five thousand for delay of every day.
HARYANA GOVT. GAZ., JULY 21, 2020 (ASAR. 30, 1942 SAKA) PART III] 288Penal proceedings
7. The Authority may initiate penal proceedings under section 60 and/or under section 63 for non-compliance of provisions of section 4(2)(l)(D) of the Real Estate (Regulation and Development) Act, 2016 and/or non- submission of information regarding compliance of section 4(2)(l)(D) in specified formats as given in regulation 4 above.
8. In case of non-submission of information regarding compliance of section 4(2)(l)(D) within the specified time as given in regulation 5(f) the authority reserves its right to initiate penal proceedings apart from charging late fee.
Forensic Audit and/or Investigation - In case of non-submission/ incorrect submission/ incomplete
submission of information in compliance of section 4(2)(l)(D)
9. The Authority may ask for supplementary and/or additional information if in the opinion of the Authority the information submitted by the promoter is either incorrect or incomplete.
10. The Authority in appropriate cases where in its opinion there is an apprehension of incorrect or incomplete or misleading information submitted by the promoter or no information is submitted by the promoter in compliance of section 4(2)(l)(D) of the Act, may order forensic audit of the accounts of the project at the cost of the promoter.
11. Without prejudice to provisions in regulation 9 and 10 where the Authority considers it expedient to do so, suo-motu may order investigation under section 35(1) of the Act apart from furnishing in writing such information or explanation relating to its affair as the Authority may require.
Miscellaneous
12. The information in the specified formats regarding compliance of section 4(2)(l)(D) of the Act shall have to be submitted in single hardcopy to the Authority along with a soft copy.
DR. K. K. KHANDELWAL, Chairman,
Haryana Real Estate Regulatory Authority, Gurugram.
PART III] HARYANA GOVT. GAZ., JULY 21, 2020 (ASAR. 30, 1942 SAKA) 289FORM
[See Section 4(2)(l)(D)]
ON THE LETTER HEAD OF CHARTERED ACCOUNTANT (WHO IS STATUTORY AUDITOR OF THE PROMOTER/PROMOTER'S COMPANY/ FIRM/ BUSINESS ENTITY)
ANNUAL REPORT ON STATEMENT OF ACCOUNTS
| Name of the Promoter | |
| Address of the Pormoter |
1. I/We _________________________ the auditor have examined the books and all the relevant records of _________________________ (Promoters Name) having PAN No. _________________________ related to _________________________ (Project Name) Project RERA Registration No. _________________________ having site address as _________________________ for the year ending 31st March _________________________.
2. We have conducted our engagement and examination in accordance with the standards on auditing, Guidance Note on Reports or Certificates for Special Purpose and other applicable authoritative pronouncements issued by the Institute of Chartered Accountants of India. We confirm our compliance to all such applicable pronouncement and with the ethical requirements of the code of ethics issued by the Institute of Chartered Accountants of India.
3. It is the primary responsibility of the management of _________________________ (Name of the entity/company) to prepare, produce and maintain all accounting and other relevant supporting records and documents required for the purpose of this certificate. This responsibility includes the design, implementation and maintenance of necessary and appropriate internal control commensurate with the nature and size of entity.
4. Period under Certificate: From _________________________ to 31st March _________________________.
| 1. | Whether separate RERA Bank Account has been opened as envisaged in Haryana RERA Bank Account Direction, 2019? | YES | NO | |
| 1.1 | Whether the existing operational bank account was made known at the time of application for registration as RERA Bank account? | YES | NO | |
| 2. | Details of RERA Bank Account as registered with Haryana RERA (Mention details of three bank accounts i.e. master a/c, RERA complaint account and free account) | |||
| 2.1 | Bank Name | |||
| 2.2 | Branch Name | |||
| 2.3 | Account Name | |||
| 3. | In case of change in RERA Bank Account as indicated above, whether due approval following prescribed documentation was taken from Haryana RERA under the Haryana RERA Bank Account Directions, 2019? | YES | NO | |
| 4. | Whether any of the Annexure C issued during the certificate period mandated deposit of 100% of the money collected from the booking of the project units (refer Annexure D of additional information for ongoing projects of Annexure C) | YES | NO | |
| 4.1 | If Yes, please mention the certificate date and name of certifying chartered accountant | |||
| (i) | Certifying Professional | |||
| (ii) | Date of Certificate | |||
| 5. | Whether the required proportion of money collected from the allottees of the projects units (as indicated in Annexure C) | YES | ||
| 5.1 | If no, please mention the amount not deposited under the above non-compliance | |||
| Sr. No. | Period (from ____________ to ____________) | Amount not deposited | ||
| 1. | ||||
| 2. | ||||
| 6. | Whether the project registration is as New or Ongoing Project? | YES | ||
| 6.1 | If Yes, Please provide details below: | YES | ||
| 6.2 | If Yes, Please provide details below: | |||
| (i) | Number of such units booked | |||
| (ii) | Amount collected from such bookings | |||
| (iii) | Total consideration of such bookings | |||
| 7. | Whether all amounts withdrawn from RERA bank account were within the withdrawal limit as certified under the relevant "Annexure C" issued during the period? | YES | ||
| 7.1 | If no, please provide the below details | |||
| Sr. No. | Period (from ____________ to ____________) | Amount of Excess withdrawals | ||
| 1. | ||||
| 2. | ||||
| 8. | Whether any fixed deposit was created out of funds deposited in RERA Bank account? | YES | ||
| 8.1 | If Yes, whether the fixed deposit is credited with the same RERA account bank branch in compliance with para 8(iii) of Haryana RERA Bank Account Direction, 2019 | YES | ||
| 8.2 | If Yes to 8 above, whether any lien is created on such fixed deposit in violation of para 8(iii) of Haryana RERA Bank Account Direction, 2019? | YES | ||
| 9. | Whether there has been any instance of receipt of consideration in excess of 10% of apartment value without entering into a registered agreement for sale? | YES | ||
| 9.1 | If Yes, please provide the information as below | ||||||||||
| Sr. No. | Unit Number | Total Consideration | Amount received in excess of 10% till registered agreement for sale | ||||||||
| 1. | |||||||||||
| 2. | |||||||||||
| 10. | Whether the project is executed by availing any loan/borrowings? | YES | NO | ||||||||
| 10.1 | If Yes, please provide details as below | ||||||||||
| Sr. No. | Name & Type of lender | Amount of Loan Sanctioned (Rs.) | Sanction Date | Loan Outstanding as on 31st March ______ (Rs.) | Collateral Mortgage Details | Amount of Default in Repayment if any | |||||
| 1. | |||||||||||
| 2. | |||||||||||
| 10.2 | Whether the financial encumbrance is reported to Haryana RERA? | YES | NO | ||||||||
| 10.3 | If Yes to 10.2 above, whether promoter has mortgaged or created a charge on any booked unit? | ||||||||||
| 10.4 | Whether any repayment of loan has been made from RERA account | YES | NO | ||||||||
| 11. | Whether any discrepancy noticed in Annexure A, B, C with reference to their issuance in accordance with the RERA Act, Rules and regulations? | YES | NO | ||||||||
| 11.1 | If Yes, please provide the details below | ||||||||||
| Sr. No. | Annexure | Tick as Applicable | Certifying professional | Date of Issuance | Details of Discrepancy | ||||||
| 1. | |||||||||||
| 2. | |||||||||||
| 3. | |||||||||||
| 12. | Whether any amount of collected for the project/phase has been transferred to any related part (related party as mentioned in company Act, 2013) | YES | NO | ||||||||
| 12.1 | If Yes, please provide the details below | ||||||||||
| Sr. No. | Date of loan/ advance | Name of the Related Party | Amount of loan/ advance | ||||||||
| 1. | |||||||||||
| 2. |
| 13. | Please specify any other things which are not covered above |
5. I/We have obtained all necessary information and explanation from promoter, during the course of our audit, which in my/our opinion are necessary for the purpose of this certificate. Also I/we have attached herewith the copies of financial statements and audit report of the _________________________ (project/ phase as registered) for the financial year ending on 31st March _________________________.
6. I/We hereby confirm that I/We have examined the prescribed register, books, documents and relevant records of _________________________ (project) for the period ended and this certificate is being issued based on the records and document produced before me and explanations provided to me by the management of the promoter based on the verification of books of accounts till (date) 31st March _________________________.
For Name of the Firm
Date:
Place:
(Signature and Stamp/Seal of the Signatory CA) Name of the Signatory : Proprietor/ Partner : Membership No. : UDIN : Full Address of firm :
Enclosed: • Copy of all CA Certificates submitted at the time of withdrawal from RERA account maintained as per Haryana Real Estate Bank Account Directions 2019.
• Copy of Annexure A, B and C for all four quarter & required to submit with Report.
• Copy of balance sheet & profit and loss account and cash flow statement for the project/ phase as registered.
PART III] HARYANA GOVT. GAZ., JULY 21, 2020 (ASAR. 30, 1942 SAKA) 293- On the letter head of the architect firm ↩
| Architect's Certificate1 | |||||
| Subject | Certificate of progress of construction work | ||||
| 1. | I/We have undertaken assignment as architect for certifying progress of construction work in the below mentioned project as per the approved plans | ||||
| Sr. No. | Particulars | Information | |||
| 1. | Project/Phase of the project | ||||
| 2. | Location | ||||
| 3. | Licensed area in acres | ||||
| 4. | Area for registration in acres | ||||
| 5. | HARERA registration No. | ||||
| 6. | Name of licensee | ||||
| 7. | Name of collaborator | ||||
| 8. | Name of developer | ||||
| 2. | Details related to inspection are as under | ||||
| 1. | Date of certifying of percentage of construction work/ site inspection | ||||
| 2. | Name of Architect/ Architect"s firm | ||||
| 3. | Date of site inspection | ||||
| 3. | Following technical professionals are appointed by promoter: - (as applicable) | ||||
| Sr. No. | Consultants | Name | |||
| 1. | Site engineer | ||||
| 2. | Structural consultant | ||||
| 3. | Proof consultant | ||||
| 4. | MEP consultant | ||||
| 5. | Site supervisor/incharge | ||||
| 4. | I certify that the work has been executed as per approved drawings, statutory/ mandatory approvals, Haryana Building Code, 2017/ National Building Code (wherever applicable) and the material used in the construction, infrastructure works and internal development works are as per the projected standard as envisaged in the registration and brochure, publication material and other documents shared with the buyers in this regard. | ||||
| 5. | I also certify that as on the date, the percentage of work done in the project for each of the building/ tower of the real estate project/phase of the project under HARERA is as per table A and table B given herein below. The percentage of the work executed with respect to each of the activity of the entire project/ phase is detailed in table A and table B. | ||||
| Date: | Yours faithfully, Signature & name (in block letters) with stamp of architect | ||||
| Place: | |||||
| Council of Architects (CoA) registration No.. : | |||||
| Council of architects (CoA) registration valid till (date) : |
- On the letter head of the architect firm ↩
| Engineer's Certificate2 | |||
| Subject | Certificate of percentage of completion of construction work of the project | ||
| 1. | I/we have undertaken assignment as engineer for certifying percentage of completion of construction work of the above-mentioned project as per the approved plans and approved structural drawings duly vetted by the proof consultant. | ||
| Sr. No. | Particulars | Information | |
| 1. | Project/phase of the project | ||
| 2. | Location | ||
| 3. | Licensed area in acres | ||
| 4. | Area for registration in acres | ||
| 5. | HARERA registration No. | ||
| 6. | Name of licensee | ||
| 7. | Name of collaborator | ||
| 8. | Name of developer | ||
| 2. | Details related to inspection are as under | ||
| 1. | Date of certifying of percentage of construction work/ site inspection | ||
| 2. | Name of engineering firm/ individual | ||
| 3. | Date of site inspection | ||
| 3. | Following technical professionals are appointed by promoter: - (as applicable) | ||
| Sr. No. | Consultants | Name | |
| 1. | Site engineer | ||
| 2. | Structural consultant | ||
| 3. | Proof consultant | ||
| 4. | MEP consultant | ||
| 5. | Quantity surveyor | ||
| 4. | We have estimated the cost of the completion of the Civil, MEP and allied works, of the building(s) of the project/ phase for which occupation certificate/ completion certificate is to be obtained by the promoter. Our estimated cost calculations are based on the structural drawing/ plans made available to us for the project under reference by the developer and consultants and the schedule of items and quantity for the entire work as calculated by the quantity surveyor appointed by the developer/ engineer and the site inspection carried out by us. | ||
| 1. | Total estimated cost for completion of the building(s) in the aforesaid project under reference | (Total of table A and table B) | |
| 2. | Estimated cost incurred till date (based on site inspection) | ||
| 3. | The balance cost of completion of the civil work/ MEP and allied works of the building(s) of the project for obtaining occupation certificate/ completion certificate from department of Town & Country Planning, Haryana | ||
| 5. | The estimated total cost of project is with reference to the Civil work/ MEP and allied works required to be completed for the purpose of obtaining occupation certificate/ completion certificate for the building(s) from the being the competent authority under whose jurisdiction the aforesaid project is being implemented. | ||
| 6. | The amount of estimated cost incurred so far has been calculated on the basis of amount of total estimated cost. | ||
| 7. | I certify that the project work has been executed as per compliance of standard engineering procedure, conforming to relevant BIS and as per prescribed norms. | ||
| 8. | I also certify that the work has been executed as per approved drawings, statutory/ mandatory approvals, Haryana Building Code, 2017/ National Building Code (wherever applicable) and the material used in the construction, infrastructure work and internal development works are as per the projected standard as envisaged in the registration and brochure, publication material and other documents shared with the buyers in this regard | ||
| 9. | I also certify that the cost of the civil work/ MEP and allied work for the aforesaid project as completed on the date of this certificate is as given in table A and table B below; | ||
| Date: | |||
| Place: | |||
| Local authority license No. : | |||
| Local authority license No. : valid till (date) |
| * Note | |
| 1. | The scope of work is to complete entire real estate project as per drawings approved from time to time so as to obtain occupation certificate/ completion certificate. |
| 2. | (*) Quantity survey can be done by office of engineer or can be done by an independent quantity surveyor, whose certificate of quantity calculated can be relied upon by the engineer. In case of independent quantity surveyor being appointed by promoter, the name has to be mentioned at the place marked (*) and in case quantity are being calculated by office of engineer, the name of the person in the office of engineer, who is responsible for the quantity calculated should be mentioned at the place marked (*). |
| 3. | The estimated cost includes all labour, material, equipment and machinery required to carry out entire work. |
| 4. | As this is estimated cost, any deviation in quantity required for development of the real estate project will result in amendment of the cost incurred/ to be incurred. |
| 5. | All component of work with specifications are indicative and not exhaustive. |
Annexure C
- On the letter head of the CA firm ↩
| Chartered Accountants Certificate3 | |||||
| Report for quarter ending | |||||
| Subject | Certificate for withdrawal of money from separate RERA account | ||||
| 1. | I/ we have undertaken assignment as Chartered Accountant for certifying withdrawal of money from separate RERA account. | ||||
| Sr. No. | Particulars | Information | |||
| 1. | Project/phase of the project | ||||
| 2. | Location | ||||
| 3. | Licensed area in acres | ||||
| 4. | Area for registration in acres | ||||
| 5. | HARERA registration no. | ||||
| 6. | Name of licensee | ||||
| 7. | Name of collaborator | ||||
| 8. | Name of developer | ||||
| 9. | Estimated cost of real estate project | ||||
| 2. | Details related to inspection are as under | ||||
| 1. | Date of certifying withdrawal of money from separate RERA account. | ||||
| 2. | Name of chartered accountant firm/ individual | ||||
| 3. | I certify withdrawal of money from separate RERA account for the aforesaid project as completed on the date of this certificate is as given in table A and table B below; | ||||
| 4. | This certificate is being issued as per the requirement of compliance in accordance with the Real Estate (Regulation and Development) Act, 2016/ the Haryana Real Estate (Regulation and Development) Rules, 2017 by the company for the project/phase under reference and is based on the records and documents produced before me and explanations provided to me by the management of the company; it is based on the verification of books of accounts and other related documents till (date ) | ||||
| 5. | Further to above, based upon our examination of books of accounts and related records, it is confirmed that no amount has been withdrawn except for payment towards construction/ development, land cost and statutory dues/ charges. All statutory approvals as applicable on promoter are also valid on date. | ||||
| Date: | Yours faithfully, Signature & name of the Chartered Accountant (in block letters) with stamp | ||||
| Place: | |||||
| For (name of CA firm) : | |||||
| Partner/ proprietor Membership no. : | |||||
| UDIN: |
MASTER ACCOUNT RELATED CERTIFICATION BY THE CHARTERED ACCOUNTANT IN
COMPLIANCE OF SECTION 4(2)(l)(D) OF THE REAL ESTATE (REGULATION AND DEVELOPMENT)
ACT, 2016
| Master Account No. | |
| Name of the Bank | |
| Period under Report | 1st April 2018 to 31st March 2019 |
| Details of Receipt in Master Account | ||||
| Sr. No. | Date | Name of the allottee | Amount | Against Unit |
| Total Funds realised from allotees | xxx | xxx |
| Sr. No. | Particulars | Amount (Rupees in Lacs.) |
| 1. | Total amount received in the master account | |
| 2. | Share of separate RERA account (70% of the amount received in the master account) | |
| 3. | Share of free account (30% of the amount received in the master account) | |
| • I/We hereby verify the receipts in the master account during the period under report as mentioned above. • It is to certify that no money receipts from the allottees have been received any other account as per undertaking given by the promoter. • It is to certify that this master account is free from any charge or encumbrances. • It is also certified that the amount received in the master account from the allottee has been credited in the respective ledger of the allottee against the unit allotted to him. |
Seal and Signature of CA
HARYANA GOVT. GAZ., JULY 21, 2020 (ASAR. 30, 1942 SAKA) PART III] 298SEPARATE RERA ACCOUNT RELATED CERTIFICATION BY THE CHARTERED ACCOUNTANT IN
COMPLIANCE OF SECTION 4(2)(l)(D) OF THE REAL ESTATE (REGULATION AND DEVELOPMENT)
ACT, 2016
| Separate RERA Account No. | |
| Name of the Bank | |
| Period under Report Details of Receipt in the Separate RERA Account from Master Account | 1st April 2018 to 31st March 2019 |
| Sr. No. | Date of transfer in RERA account |
| Total funds transferred from Master Account | |
| Sr. No. | Particulars |
| 1. | Total amount received in the master account during the period under report |
| 2. | Share of separate RERA account (70% of the amount received in the master account) |
| 3. | Total funds received in separate RERA account |
| 4. | Is there any difference between Sr. No. 2 and 3 |
| 5. | If yes reason thereof |
| • I/We hereby verify the receipts in the separate RERA account during the period under report as mentioned above. • It is to certify that this separate RERA account is free from any charge or encumbrances. |
Seal and Signature of CA
PART III] HARYANA GOVT. GAZ., JULY 21, 2020 (ASAR. 30, 1942 SAKA) 299EXPENDITURE OUT OF SEPARATE RERA ACCOUNT RELATED CERTIFICATION BY THE
CHARTERED ACCOUNTANT IN COMPLIANCE OF SECTION 4(2)(l)(D) OF THE REAL ESTATE
(REGULATION AND DEVELOPMENT) ACT, 2016
| Separate RERA Account No. | |
| Name of the Bank | |
| Period under Report | 1st April 2018 to 31st March 2019 |
| Details of withdrawal from Separate RERA Account | ||||||
| Sr. No. | Date of withdrawal RERA account | Percentage of completion of project | Authorized withdrawal | Amount already withdrawn | Balance withdrawal limit | Whether amount withdrawn is less than balance withdrawal limit |
| 1. | 2. | 3. | 4. | 5. | 6. | 7. (7 > 2) |
| Sr. No. | Particulars | Amount (Rupees in Lacs.) |
| 1. | Total funds withdrawn | |
| 2. | Total withdrawal limit at the end of the reporting period | |
| 3. | Whether the total withdrawn funds from separate RERA account so far is less than or equal to total withdrawal limit at the end of the reporting period | |
| 4. | If yes reason thereof | |
| • I/We hereby verify the withdrawals from the separate RERA account have been as per the requirement of section 4(2)(l)(D) i.e. all withdrawals have been made only after certificate from engineer, architect and chartered accountant. • It is to certify that the withdrawals out of this separate RERA account have been made in proportion to completion of project. • It is further certified that withdrawals have been against reimbursement of expenditure incurred on proportionate land cost and cost of construction. |
Seal and Signature of CA
HARYANA GOVT. GAZ., JULY 21, 2020 (ASAR. 30, 1942 SAKA) PART III] 300FINANCIAL STATEMENT IN RESPECT OF VIABILITY OF THE PROJECT
| Name of the Project | |
| Name of the Promoter | |
| Period under Report | 1st April 2018 to 31st March 2019 |
| Financial viability of the project at the end of the reporting period [INR (In Lacs)] | |||
| 1. | Net expected gain/ profit | ||
| Sr. No. | Description | Details | |
| 1.1 | Total estimated cost of the project | ||
| 1.2 | Total estimated sales proceeds | ||
| 1.3 | Net expected gains/profit, keeping in view the market trends. (1.2-1.1) | ||
| 2. | Estimated cost details for completion of the project | ||
| 2.1 | Cost incurred at the end of the reporting Period. | ||
| 2.2 | Estimated cost to be incurred for completion of the project | ||
| 3. | Estimated receivables of the project at the end of reporting period | ||
| 3.1 | Amount collected at the end of the reporting period | ||
| 3.2 | Amount to be collected from the existing allottees | ||
| 3.3 | Value of unsold inventory (at cost) | ||
| 4 | Total receivable of the Project at the end of the reporting period. | ||
| Total of (3.2+3.3) | |||
| 5. | Arrangement of funds required for completion of the project | ||
| 5.1 | Equity by promoter | ||
| 5.2 | Loan | ||
| 5.3 | Advances | ||
| 5.4 | Any other debt or equity sources | ||
| 5.5 | Other funding if any | ||
| 6. | Gap in the funding | ||
| 7. | Plan to bridge the gap in funding |
Seal and Signature of CA
PART III] HARYANA GOVT. GAZ., JULY 21, 2020 (ASAR. 30, 1942 SAKA) 301| STATEMENT OF ACCOUNTS | NaN | ||||||||
| BALANCE SHEET OF THE PROJECT AT THE END OF THE REPORTING PERIOD | NaN | ||||||||
| Sr. No. | Particulars | Current Year Amount (Rupees in Lacs.) | Previous Year Amount (Rupees in Lacs.) | NaN | |||||
| I. | Equity and Liabilities | NaN | |||||||
| 1. | Promoter contribution | NaN | |||||||
| 1.1 | Share capital | NaN | |||||||
| 1.2 | Reserves and surplus | NaN | |||||||
| 2. | Banks | NaN | |||||||
| 2.1 | Long-term borrowings | NaN | |||||||
| 2.2 | Other Long-term liabilities | NaN | |||||||
| 2.3 | Long-term provisions | NaN | |||||||
| 3. | Other borrows/payables | NaN | |||||||
| 3.1 | Short-term borrowings | NaN | |||||||
| 3.2 | Trade payables | NaN | |||||||
| 3.3 | Other current liabilities | NaN | |||||||
| 3.4 | Short-term provisions | NaN | |||||||
| II. | Assets | NaN | |||||||
| 4. | Capital work in progress | NaN | |||||||
| 5. | Current Assets | NaN | |||||||
| 5.1 | Inventories | NaN | |||||||
| 5.2 | Trade receivables | NaN | |||||||
| 5.3 | Cash and bank balances | NaN | |||||||
| 5.4 | Short-term loans and advances | NaN | |||||||
| 5.5 | Other current assets | NaN | |||||||
| Significant accounting policies The accompanying notes from 1 to 39 form an integral part of the financial statements | NaN | ||||||||
| As per our report of even date annexed C hartered Accountants FRN: | For and on behalf of the Board of Directors of C IN: | NaN | |||||||
| D irector | D irector | NaN | |||||||
| Place | C ompany Secretary | C FO | NaN | ||||||
| Date | NaN | ||||||||
| Sr. No. | Particulars | Current Year Amount (Rupees in Lacs.) | Previous Year Amount (Rupees in Lacs.) | NaN | |||||
| A. | Income | NaN | |||||||
| 1. | Revenue from operations | NaN | |||||||
| 2. | Other Income | NaN | |||||||
| Total Revenue | NaN | ||||||||
| B. | Expenses | NaN | |||||||
| 1. | Cost of construction | NaN | |||||||
| 2. | Cost of sales | NaN | |||||||
| 3. | Finance cost | NaN | |||||||
| 4. | Other expenses | NaN | |||||||
| Total Expenses | NaN | ||||||||
| Profit before tax | NaN | ||||||||
| Tax expenses | NaN | ||||||||
| Profit for the year | NaN | ||||||||
| Significant accounting policies T he accompanying notes from 1 to 39 form an integral part of the financial statements | NaN | ||||||||
| A s per our report of even date annexed C hartered Accountants FRN: | For and on behalf of the Board of Directors of C IN: | NaN | |||||||
| D irector | D irector | NaN | |||||||
| Place | C ompany Secretary | C FO | NaN | ||||||
| Date | NaN |
| CASH FLOW STATEMENT/ VIABILITY FOR THE NEXT YEAR | |||
| Sr. No. | Particulars | Amount (Rupees in Lacs.) | |
| 1. | Cost to be incurred for completion of project land | ||
| 1.1 | Land | ||
| 1.2 | Internal Development Charges | ||
| 1.3 | External Development Charges | ||
| 1.4 | Other statutory dues | ||
| 1.5 | Expected amount for construction | ||
| 1.6 | Bank/ Financial institution Payable | ||
| 1.7 | Interest Payable | ||
| 1.8 | Payment to suppliers | ||
| 1.9 | Other payables | ||
| 2. | Receivables | ||
| 2.1 | From allottees | ||
| 2.2 | From unsold (estimated) inventory | ||
| 2.3 | From capital inflow (Loan/Equity) | ||
| Surplus/ Gap |
| FINANCIAL PROGRESS AT THE END OF FINANCIAL YEAR | |||||
| Sr. No. | Particulars | Estimated | |||
| (column-A) | (column-B) | ||||
| Amount (Rs. In Lacs) | (%) of total project cost | Incurred & paid (proportionate cost or incurred/ paid cost, whichever is lesser) | (%) incurred & paid/total incurred (III/I) | ||
| I | II | III | IV | ||
| 1. | Land cost | ||||
| 2. | External development charges | ||||
| 3. | Infrastructure development charges | ||||
| 4. | Internal Development works | ||||
| 5. | Cost of construction | ||||
| 6. | Cost of construction of community facilities | ||||
| 7. | Other costs | ||||
| 8. | Total estimated cost of the real estate project (1+2+3+4+5+6+7) of estimated cost (column-A) | ||||
| 9. | Total cost incurred and paid of the real estate project (4+5+6) of incurred and paid (column-B) | ||||
| 10. | Percentage of completion of construction work | ||||
| • I/We hereby verify the amount during the period under report as mentioned above. • It is to certify that the percentage calculation is as per the amount provided by the promoter spent for the completion of project at the end of the reporting period |
Seal and Signature of CA
PART III] HARYANA GOVT. GAZ., JULY 21, 2020 (ASAR. 30, 1942 SAKA) 305| PHYSICAL PROGRESS AT THE END OF THE FINANCIAL YEAR | ||||
| Sr. No. | Project components | % of Completion to complete the project | Actual % of physical completion of the project | |
| 1. | Sub structure (inclusive of excavation, foundation, basements, water proofing, etc.) | 20% | ||
| 2. | Super structure (slabs, brick work, block work, stair case, lift wells, machine rooms, water tank, etc.) | 35% | ||
| 3. | MEP | |||
| 3.1 | Mechanical (lifts, ventilation, etc.) | 10% | ||
| 3.2 | Electrical (conduiting, wiring, fixtures, etc.) | 5% | ||
| 3.3 | Plumbing & Firefighting (piping, pumps and pump room, fixtures, etc.) | 10% | ||
| 4. | Finishing | |||
| 4.1 | Internal (plaster, tilling, flooring, painting, etc. within units and common areas) | 15% | ||
| 4.2 | External (plaster, painting, facade, etc.) | 5% | ||
| Total Percentage STATEMENT OF INTERNAL DEVELOPMENT WORKS | 100% | |||
| Sr. No. | Items | % of Completion to complete the project (figures are representative for an average project for guidance only, may vary in a project) | % of Physical completion of the project | Actual % of Completion |
| 1. | Internal Roads & Pavements | 15% | ||
| 2. | Water supply, Sewerage, Storm, STP & Rain water harvesting | 25% | ||
| 3. | Play grounds and Parks, Construction of circulation road | 10% | ||
| 4. | Street light, laying of cable, Renewable of energy system, security & fire-fighting | 15% | ||
| 5. | Other Internal Development works | 35% | ||
| STATEMENT OF COMMUNITY FACILITIES | Sub Total | 100% | ||
| Sr. No. | Items | % of Completion to complete the project | % of physical completion of the project | Actual % of physical completion |
| 1. | Schools | 25% | ||
| 2. | Club house/ Community centre | 25% | ||
| 3. | Hospital and dispensary | 25% | ||
| 4. | Others | 25% | ||
| Sub Total | 100% | |||
| • I/We hereby verify the amount during the period under report as mentioned above. • It is to certify that the percentage calculation is as per the amount provided by the promoter spent for completion of the project at the end of the reporting period. |
Seal and Signature of CA
| UNDERTAKING FOR UTILISATION OF FUNDS RECEIVED FROM ALLOTTEES FOR THE PROJECT ONLY | |
| I/We ________________________ as on dated ________________________ for the year ended as on ________________________, undertake that statement of accounts duly certified and signed by the Chartered Accountant shall be submitted to the authority with a verification that the amounts collected for a particular project have been utilised for that project only and withdrawals have been in proportion to the percentage of the completion of the project. | |
| Name of the company/ firm/ LLP | |
| CIN: | |
| A uthorized Signatory | |
| Date: | |
| Place: |
[117–1]
8830—C.S.—H.G.P., Pkl.