Real estate audit services
Audit and assurance built for the real estate sector
Real estate is one of India's most regulated industries. Between RERA mandates, GST compliance, project fund tracking, and income tax audit thresholds, the compliance load on developers, builders, and property management firms is significant. One missed filing or one misclassified expense can cost crores in penalties.
Cred Books provides specialist audit and assurance services that go beyond a standard statutory review. Our chartered accountants understand real estate transactions from the ground up, covering land acquisitions, joint development agreements, construction cost accounting, revenue recognition under Ind AS 115, and the intricate fund segregation requirements under each state's RERA authority.
We work with developers, property management companies, and housing finance intermediaries across India. If your real estate business needs a compliance partner who speaks the language of the sector, you are in the right place.
What does a real estate audit actually cover?
A real estate audit is a structured examination of a developer's financial records, project accounts, internal controls, and regulatory compliance. It is not the same as a generic corporate audit. Real estate has its own accounting standards (Ind AS 115 for revenue recognition), its own regulator (RERA), its own tax complexities, and its own project cost structures.
The RERA audit alone requires developers to file Form 5 annually, certifying that at least 70% of project collections were deposited into the designated project account and used exclusively for that project. Getting this wrong, even unintentionally, triggers notices and penalties.
A proper real estate audit covers statutory compliance, project fund segregation, project cost accounting, and tax position review, giving you a connected picture of your business's financial health. Our real estate accounting services complement this audit work end to end.
Why real estate audit services matter for your business
RERA compliance without the guesswork
RERA audit for real estate developers is mandatory under the Real Estate (Regulation and Development) Act, 2016. Annual Form 5 certification, project fund audits, and state portal filings require a CA who understands RERA, not just accounting standards.
Investor and lender confidence
Banks, NBFCs, and institutional investors require clean, audited financials before sanctioning project finance or construction loans. A professional real estate financial audit signals that your books are in order and your project cash flows are transparent.
Tax risk reduction
GST on real estate, TDS on property purchases, capital gains from land deals, and Section 44AB tax audits all intersect in a real estate business. A real estate tax audit by experienced professionals catches problems before the income tax department does.
Our real estate audit and assurance services
RERA project audit
Mandatory RERA audits covering project account fund utilisation, Form 5 certification, quarterly compliance reviews, and state RERA portal filings across MahaRERA, RERA-K, DRERA, and more.
Statutory audit for real estate companies
Annual statutory audits under the Companies Act, 2013, producing ICAI compliant reports that satisfy ROC filing requirements with practical observations on your financial controls.
Internal audit and concurrent audit
Procurement controls, contract management, cost overrun analysis, billing verification, and labour compliance checks, all mapped to project timelines for ongoing construction projects.
Real estate tax audit (Section 44AB)
Tax audits with particular attention to percentage of completion accounting, JDA tax treatment, and capital gains positions. Filed accurately and on time with your income tax return.
Real estate due diligence
Pre acquisition review covering project financials, pending tax demands, RERA compliance status, vendor commitments, and off balance sheet liabilities before you commit capital to a new project or acquisition.
GST audit and reconciliation
GST audits for builders reconciling output tax liability against claimed ITC, reviewing ITC eligibility, and verifying TDR transaction treatment. Paired with our GST compliance services for complete coverage.
Key compliance areas we cover for real estate businesses
Real estate compliance in India spans multiple laws, regulators, and timelines. Here is what our audit and assurance practice covers for developers, builders, and property management firms.
RERA audit for developers
Annual project account audits, Form 5 certification, fund utilisation reporting, and state RERA portal compliance for registered real estate projects across India.
Statutory audit for construction companies
Companies Act statutory audit covering project revenue, cost of construction, WIP valuation, and borrowings reconciliation for construction and real estate companies.
GST compliance for real estate
GST audit, ITC reversal on exempt portions of mixed use projects, reconciliation of GSTR1 vs GSTR3B, and advisory on GST rates under affordable and non affordable project categories.
Internal audit for builders
Procurement audit, vendor payment verification, construction cost overrun analysis, sub contractor billing review, and project level margin assessment for ongoing and completed projects.
Real estate financial due diligence
Pre acquisition financial review covering RERA status, pending tax demands, liabilities against project accounts, JDA terms review, and off balance sheet obligations before deal closure.
Tax audit for real estate companies
Section 44AB tax audit for builders and developers, covering percentage of completion method, joint development agreement tax treatment, TDS compliance, and capital gains on land transactions.
Property management company audit
Audit services for residential welfare associations, commercial property management firms, and co working space operators covering maintenance fund accounting and common area expense allocation.
Joint development agreement audit
Accounting and audit of JDA transactions, including land owner revenue sharing, developer construction obligations, profit recognition under each party's books, and GST treatment of development rights transfer.
Real estate investment company audit
Audit and assurance for companies investing in real estate assets, SPVs, and real estate funds, covering fair value assessment, rental income reconciliation, and SEBI compliance for registered entities.
Software expertise
What to expect from Cred Books
Four areas where real estate audits typically run into complexity. Here is how we handle each one.
RERA project account audit
Developers with multiple projects often mix funds across project accounts. Our RERA audit process traces fund movements, documents withdrawals, and certifies Form 5 with a clean opinion. Where fund diversion happened unintentionally, we help regularise the position before filing.
Construction company financial audit
Under Ind AS 115, a construction company financial audit requires assessing revenue recognition contract by contract. We handle WIP valuation, percentage of completion calculations, and cost matching. Getting this wrong affects reported profits, tax liability, and investor numbers simultaneously.
Real estate tax audit (Section 44AB)
We review JDA tax positions, TDS compliance on contractor payments, and capital gains treatment on land transactions during the tax audit. For developers with foreign investor participation, transfer pricing disclosures are handled as part of the same engagement. See our income tax filing services for further support.
GST audit for builders
GST rates, ITC eligibility, and TDR treatment all vary by project category and completion status. We reconcile GSTR1 against your sales registers, verify ITC claims, and calculate ITC reversal where common inputs were used for both exempt and taxable supplies. Refer to our GST compliance services page for the full scope.
Why real estate companies choose Cred Books for audit services
1. Real estate is our specialist territory
We don't treat real estate audit as a generic corporate audit. Our team has hands on experience with RERA compliance, Ind AS 115 revenue recognition, JDA accounting, and construction cost structures across residential, commercial, and mixed use projects.
2. We work across all major state RERA portals
Every state's RERA authority has its own portal, its own format for Form 5 filing, and its own timelines. Our team has filed RERA audit reports with MahaRERA, RERA-K, DRERA, RRERA, Haryana RERA, and others.
3. Tax and audit under one roof
Your statutory audit findings have direct income tax implications. Your RERA audit intersects with GST compliance. Our integrated approach means your audit team and tax advisory team are in constant communication, so nothing falls between the cracks.
4. We flag issues before filing, not after
We conduct a pre audit review and flag fund diversion, ITC mismatches, and TDS defaults before your audit report is finalised. The value of a good audit partner is identifying compliance gaps early enough to fix them.
5. Fixed timelines, transparent pricing
We agree on delivery dates upfront and meet them. Our pricing is transparent, with no surprise additions for multi project audits or RERA filings. Real estate accounting clients get preferential bundled rates.
6. Technology enabled audit process
We use cloud based audit tools that allow your team to share documents securely, track audit progress in real time, and receive reports digitally. For developers managing multiple projects across cities, this matters. Our offshore accounting setup ensures round the clock availability.
Our real estate audit process
Initial scoping and document checklist
We start with a scoping call to understand your project portfolio, applicable regulatory frameworks, and current compliance status. You receive a document checklist specific to your project mix, not a generic list.
Document collection and preliminary review
Your team shares financial records, bank statements, project cost sheets, RERA account statements, GST returns, and contractor invoices through our secure document portal. We flag any gaps before the formal audit begins.
Field audit and evidence gathering
Our auditors verify financial records against source documents, test internal controls, confirm RERA account fund movements, and perform analytical procedures on revenue and cost recognition across all active projects.
Draft observations and management discussion
We share draft audit observations with your management before finalising the report. This gives you the opportunity to provide explanations, correct misunderstandings, and address any issues identified before they go on record.
Final report and RERA or ROC filing
We issue the final audit report, Form 5 for RERA projects, and the tax audit report where applicable. We also assist with ROC filing of financial statements and RERA portal submission, everything handed over in filing ready format.
Frequently asked questions about real estate audit services
Get expert real estate audit services from Cred Books
RERA audits, statutory audits, tax audits, GST compliance, and due diligence for real estate businesses across India. Talk to our team today.
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