Project Accounting Basics for a RERA Project in Haryana

A registered project in Haryana needs books that can follow each rupee from the buyer to the cost of building: the Act requires seventy per cent of amounts realised to sit in a separate account, withdrawals in proportion to completion, and an audit within six months of each financial year end, that is by 30 September. Keeping one set of books per project and matching it to the bank every month is the practical way to meet all three and to fill the quarterly update. The three-account structure is an HRERA Gurugram rule only.

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, rule 14(1)(d) of the Haryana Real Estate (Regulation and Development) Rules, 2017, rule 4(4) as substituted in 2019, HRERA Panchkula's quarterly compliance steps and HRERA Gurugram's Bank Accounts Directions of 2019 (Gurugram only).

Key facts

Point	What applies	Source
Separate account	seventy per cent of amounts realised from allottees, in a scheduled bank, for construction and land cost only	Act s.4(2)(l)(D)
Withdrawals	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)
Yearly audit	within six months of the financial year end, that is by 30 September	Act s.4(2)(l)(D)
Quarterly update	within fifteen days of each quarter end	Haryana Rules, rule 14(1)(d)
Panchkula schedule	includes cash inflow, cash outflow and escrow account sections	HRERA Panchkula steps document
Three accounts	HRERA Gurugram only; no Panchkula equivalent found	Gurugram Bank Accounts Directions 2019
Chart of accounts	not prescribed by the Act; the practices below are our suggestions	—

The rules in this guide are quoted from the official documents listed with it. The bookkeeping practices are our suggestions, and the guide says which is which. It is general information, not accounting or legal advice.

What do the Act and the Rules ask of a project's books?

Four duties meet in the books of a project:

1. The separate account. Seventy per cent of the amounts realised from allottees, from time to time, goes into a separate account in a scheduled bank, to cover the cost of construction and the land cost, and is used only for that. See our guide to the 70% account.
2. Withdrawals in proportion. Withdrawals are in proportion to the percentage of completion, after an engineer, an architect and a chartered accountant in practice have certified the proportion.
3. The quarterly update. Within fifteen days of each quarter end the promoter uploads the update to the project web page. At HRERA Panchkula the online schedule includes cash inflow, cash outflow and escrow account sections. See our guide to the quarterly update.
4. The yearly accounts. The accounts are audited within six months after the financial year ends, which is 30 September for a year ending 31 March. The audit is to verify that the amounts collected for the project were used for it and that withdrawals were in proportion to completion.

None of these duties is met by a general ledger that mixes projects. Each one asks a project-wise question.

How should the books of a project be set up?

The Act does not prescribe a chart of accounts. But a project that must show where its money came from and went to is easiest to explain when it has its own books. Our suggestions:

• A separate ledger or company file for each project, or at least a separate cost centre that cannot be mixed up with another.
• Receipts from buyers recorded against the unit and the buyer, with the date and the mode of payment, so that the amount realised on any date can be read off.
• A record of the seventy per cent deposit for each receipt: the date, the amount and the bank entry that matches it.
• Costs recorded under clear heads, such as land, construction and statutory charges, because the Act speaks separately of the cost of construction and the land cost, and the Haryana rule for ongoing projects deducts both.
• A withdrawal register showing each withdrawal from the separate account, the date, the amount, the completion percentage it relied on and the papers that supported it.

Why match the books to the bank every month?

A monthly bank reconciliation for the project accounts, and especially the separate account, is the habit that makes the rest easy. At month end:

1. Match every bank entry to a book entry, and every book entry to a bank entry.
2. List the differences, such as cheques issued but not cleared, and clear them the next month.
3. Check that the seventy per cent deposit for the month agrees with the receipts recorded.
4. Check that withdrawals match the withdrawal register.
5. Keep the reconciliation statement with the month's papers.

Done monthly, the cash inflow, cash outflow and escrow sections of the quarterly update can be filled from agreed figures. Done once a year, they are a reconstruction.

What evidence should be kept each quarter?

For each quarter and each year keep, in one folder:

• the filed quarterly update and the date it was filed;
• the bank statements and reconciliations;
• the papers from the independent professionals who examined the percentage of completion and the accounts;
• the allotment letters, agreements for sale and the register of bookings;
• the register of withdrawals.

The sales list in the update should agree with the register of bookings. The cash figures should agree with the bank. Differences are normal during the quarter and should be explained by the time the update goes in.

Is the three-account structure a rule in Haryana?

HRERA Gurugram only. You may be told a project needs three bank accounts: a MASTER account, a RERA account and a FREE account in the same branch. That comes from HRERA Gurugram's Real Estate Bank Accounts Directions of 2019 and applies to projects under the Gurugram authority. No equivalent has been found for HRERA Panchkula, which covers Hisar, Hansi, Uklana, Fatehabad, Sirsa, Bhiwani and Jind, so it is not a rule for those towns. The Act's requirement, everywhere, is the separate account for seventy per cent of the amounts realised. If your bank asks you to set up more accounts, that is a matter between you and the bank, and your independent professional can advise on how to record it.

What problems come up most often?

• A receipt that cannot be tied to a unit. It is hard to show the amount realised from allottees when some receipts are only a name and a sum. Tie each to a booking.
• Costs paid for another project. Shared costs need a stated, consistent way of splitting them.
• Withdrawals without a record of the proportion. Keep the completion percentage that supported each one.
• Loans mixed with buyers' money. Keep loan receipts and repayments in their own heads and out of the project receipts from allottees.
• Year-end rush. Books closed once a year, with months of bank differences, make the yearly accounts slow and costly.

Our illustrative withdrawal planner shows how the proportion works from your own figures.

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 that the independent professionals ask for. They examine and sign their own work: you choose and pay them, and we take no part in their fees. Our project accounts page describes the support. There is no price list because every project is different, so ask our expert team for a quote and we will reply once we understand your project.

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.