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How to Complete and Submit Chartered Accountant's Certificate (Form 3) for MahaRERA Projects

Are you engaged in real estate projects registered under MahaRERA? Complying with regulations necessitates accurate completion and submission of the Chartered Accountant's Certificate (Form 3). This guide offers a detailed walkthrough on filling out and submitting Form 3, ensuring adherence to MahaRERA guidelines.

1. Accessing the Form:

• Begin by accessing Form 3 directly from the official MahaRERA website here.
• Verify that you have the latest version of the form to provide up-to-date information.

2. Understanding the Form:

• Form 3 is a mandatory document required at the time of project registration and for withdrawing funds from the designated account.
• It certifies the financial progress of the project based on records and documents provided to the chartered accountant.

3. Filling Out the Form:

• Initiate the form by entering the date of submission and addressing it to the promoter.
• Provide project-specific details, including the project name, MahaRERA registration number, and the name and address of the promoter.

4. Estimating Costs:

• Complete Table A, which outlines the estimated cost of the project at the time of registration. This includes various components such as land cost, development cost, and construction expenses.
• Ensure accurate estimation of costs based on relevant factors like land value, construction expenses, and taxes payable.

5. Actual Costs Incurred:

• Table B captures the actual costs incurred on the project as of the date of the certificate. This includes expenditure on land, construction, and other project-related expenses.
• Carefully input the actual amounts spent, verifying them against the project's financial records.

6. Receivables and Unsold Inventory:

• Provide details of receivables from sold inventory and unsold inventory in Tables C and D, respectively.
• Calculate and compare the balance cost to complete the project with the receivables, ensuring financial viability.

7. Designated Bank Account Details:

• Complete Table E with the designated bank account details, including opening balance, deposits, withdrawals, and closing balance.
• Certify the utilization of funds collected from allottees exclusively for land acquisition and project construction.

8. Means of Finance:

• Table F outlines the proposed and actual means of finance for the project, including own funds, borrowed funds, and customer receipts.
• Provide accurate estimates and actual figures based on the project's financial status.

9. Comments/Observations of CA:

• Table G allows the chartered accountant to include any comments or observations regarding the project's financial progress.

By following these steps meticulously, you can effectively complete and submit the Chartered Accountant's Certificate (Form 3) for MahaRERA projects, ensuring compliance with regulatory requirements. Stay informed about any updates or changes to the form or submission process through official channels to maintain adherence to MahaRERA guidelines.