The 70% Project Account Under RERA in Haryana: What the Act and Rules Say

Under section 4(2)(l)(D) of the Act, seventy per cent of the amounts a promoter realises from allottees for a project must be deposited in a separate account in a scheduled bank and used only for the cost of construction and the land cost. Withdrawals are allowed only in proportion to the percentage of completion, after an engineer, an architect and a chartered accountant in practice have certified that proportion, and the accounts must be audited within six months of each financial year end, that is by 30 September. For an ongoing project, the Haryana Rules add a deposit within three months of applying for registration.

Sources checked: 20 October 2026

Facts checked on 20 October 2026 against section 4(2)(l)(D) of the Real Estate (Regulation and Development) Act, 2016 and the Haryana Real Estate (Regulation and Development) Rules, 2017 as hosted on haryanarera.gov.in, rule 4(4) as substituted by the Haryana Amendment Rules of 2019, and HRERA Gurugram's regulations and directions, which are noted as Gurugram only.

Key facts

Point	What applies	Source
Deposit	seventy per cent of amounts realised from allottees, from time to time	Act s.4(2)(l)(D)
Account	a separate account in a scheduled bank	Act s.4(2)(l)(D)
Use	cost of construction and land cost only	Act s.4(2)(l)(D)
Withdrawal	in proportion to the percentage of completion, after an engineer, an architect and a chartered accountant in practice have certified it	Act s.4(2)(l)(D), provisos
Yearly accounts	audited within six months of the financial year end, that is by 30 September	Act s.4(2)(l)(D), third proviso
Ongoing projects	seventy per cent of the amount already realised, minus construction and land cost paid, within three months of applying for registration	Haryana Rules, rule 4(4) (2019)
Withdrawal format	set by the Authority; HRERA Gurugram only has prescribed one; none found for Panchkula	Gurugram QPR Regulations 2018
Three bank accounts	HRERA Gurugram only (2019 directions); no Panchkula equivalent found	Gurugram Bank Accounts Directions 2019

This is general information, not legal or accounting advice.

What does the Act say about the 70% account?

Section 4(2)(l)(D) of the Act requires the promoter to declare, with the registration application, that:

• seventy per cent of the amounts realised for the project from the allottees, from time to time, will be deposited in a separate account, maintained in a scheduled bank;
• the account will cover the cost of construction and the land cost; and
• the money will be used only for that purpose.

Two features are worth noting. The seventy per cent applies to each amount as it is realised, not to a total at the end. And the account must be a separate bank account, not a ledger heading inside the promoter's general account.

How do withdrawals from the account work?

The Act lets the promoter withdraw from the separate account to cover the cost of the project, but only in proportion to the percentage of completion of the project.

The Act adds a second condition. The amounts are withdrawn only after an engineer, an architect and a chartered accountant in practice have certified that the withdrawal is in proportion to the percentage of completion. These are professionals the promoter chooses, and their certification is a condition of each withdrawal.

The format of the papers is set by the Authority. HRERA Gurugram only: the Gurugram authority prescribes a format in its Quarterly Progress Report Regulations 2018, as substituted in 2019. No format has been found for HRERA Panchkula, which covers Hisar, Hansi, Uklana, Fatehabad, Sirsa, Bhiwani and Jind. The practical advice is to look at what the Panchkula website asks for at the quarterly update, and to ask the professionals what they need from you.

Our illustrative withdrawal planner shows how the proportion works out from your estimated cost, the cost incurred, the amount collected and the amount already withdrawn. It is a teaching aid, not a figure for a filing.

What do the Haryana Rules add for ongoing projects?

The Haryana Rules have a rule of their own for ongoing projects. Rule 4(4), as substituted by the Amendment Rules of 12 September 2019, requires the promoter, within three months of applying for registration, to deposit in a separate bank account seventy per cent of the amount already realised from allottees, minus the expenditure incurred and paid for meeting the cost of construction and the proportionate land cost of the project. The money is then used for the purposes the Act sets for the separate account.

What counts as construction cost and land cost for this deduction decides how much goes in. Read the rule in the official text and take advice on your own figures before you make the deposit.

When are the yearly project accounts due?

The same section of the Act contains a yearly duty. The promoter must get the accounts audited within six months after the end of every financial year by a chartered accountant in practice, and produce a statement of accounts signed by that accountant. The audit is to verify that the amounts collected for the project have been used for the project and that the withdrawals were in proportion to the percentage of completion.

For a financial year ending on 31 March, six months later is 30 September.

How and where the audited statement is filed is set by each authority. HRERA Gurugram only: Gurugram requires the annual statement of accounts by 30 September in its prescribed formats (Compliance of Section 4(2)(l)(D) Regulations 2020). No filing procedure has been found for HRERA Panchkula, so this guide describes the duty and the date, not a Panchkula format. Our free due-dates tool shows the 30 September date and can send an email reminder.

Does a project need three bank accounts?

HRERA Gurugram only. You may hear that a project needs three bank accounts. That comes from HRERA Gurugram's Real Estate Bank Accounts Directions of 2019, which require a MASTER account, a RERA account and a FREE account in the same bank branch for a project registered in Gurugram. No equivalent has been found for HRERA Panchkula, so it is not a rule for projects in Hisar, Hansi, Uklana, Fatehabad, Sirsa, Bhiwani or Jind. What the Act requires everywhere is the separate account for seventy per cent of the amounts realised.

What mistakes should a promoter avoid?

• Treating the account as optional until the first withdrawal. The deposit duty applies to amounts as they are realised.
• Withdrawing more than the completion percentage supports. The proportion is the whole point of the rule.
• Mixing projects. The Act ties the account to the project, so keep a separate account for each project.
• Leaving the books to the year end. The yearly statement is only as good as the monthly records behind it. See our guide to project accounting basics.
• Assuming a Gurugram format or direction applies in Panchkula. Check the authority that covers your project.

How can our expert team help?

We keep the books of each project separate, match them to the project bank accounts every month and prepare the data and schedules the independent professionals ask for. They examine and sign their own work, and you choose and pay them. Our project accounts page explains how this works. There is no price list because every project is different, so ask our expert team for a quote.

RERA certificates and the annual RERA audit must be signed by an independent Chartered Accountant in practice of your choice. You can find practising CAs on ICAI's CA Connect portal.