Which authority handles RERA compliance for Mumbai projects?

MahaRERA headquartered in Mumbai administers RERA for all Maharashtra projects. Quarterly progress reports (QPR) filed on maharera.maharashtra.gov.in. 70% escrow maintained. CA-certified financials required. GST to Commissionerate Mumbai. Company filings to RoC Mumbai. Patron handles all three from Marine Lines.

What does construction accounting cost in Mumbai?

Single project (<50 units): Rs 15,000-30,000/month. Multi-project (50-500 units): Rs 30,000-75,000. Large/listed: Rs 75,000-2,00,000. SRA redevelopment: custom quote given dual-component complexity. Onboarding 5-15 days depending on size.

Is POCM still allowed for Mumbai developers under Ind AS 115?

Yes. ICAI clarified 20 July 2018 that POCM is permitted if asset has no alternative use and developer has enforceable right to payment for work completed. Eligibility depends on individual contract terms, particularly Agreement for Sale provisions. Patron assesses per-project.

What GST rate applies to under-construction flats?

Affordable housing (≤60 sq.m. MMR, ≤Rs 45L): 1% no ITC. Other residential: 5% no ITC. Commercial: 12% with ITC. Developers can opt for 12% with ITC on residential if beneficial. Patron files across all categories with ITC reconciliation.

How long does MahaRERA quarterly reporting take?

QPR due by 7th of Jul/Oct/Jan/Apr. Patron coordinates with architect (Form 1) and prepares Form 3 (financial) from project books. Process: 5-7 working days before deadline if escrow statements and contractor invoices shared on time.

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Construction and Real Estate Accounting Services in Mumbai: CA-Led Project Financial Management

Q: What does construction accounting cost in Mumbai?

Single project (<50 units): Rs 15,000-30,000/month. Multi-project (50-500 units): Rs 30,000-75,000. Large/listed: Rs 75,000-2,00,000. SRA redevelopment: custom quote given dual-component complexity. Onboarding 5-15 days depending on size.

Q: Is POCM still allowed for Mumbai developers under Ind AS 115?

Yes. ICAI clarified 20 July 2018 that POCM is permitted if asset has no alternative use and developer has enforceable right to payment for work completed. Eligibility depends on individual contract terms, particularly Agreement for Sale provisions. Patron assesses per-project.

Q: What GST rate applies to under-construction flats?

Affordable housing (≤60 sq.m. MMR, ≤Rs 45L): 1% no ITC. Other residential: 5% no ITC. Commercial: 12% with ITC. Developers can opt for 12% with ITC on residential if beneficial. Patron files across all categories with ITC reconciliation.

Q: How long does MahaRERA quarterly reporting take?

QPR due by 7th of Jul/Oct/Jan/Apr. Patron coordinates with architect (Form 1) and prepares Form 3 (financial) from project books. Process: 5-7 working days before deadline if escrow statements and contractor invoices shared on time.

Q: Can I get construction accounting done online from Mumbai?

Yes. MahaRERA quarterly reports, GST returns, escrow reconciliation, project MIS all handled digitally. Walk-in at Marine Lines for in-person discussions on project financials or MahaRERA queries. Quick Answers Builder ka accounting kaise hota hai? Har project ka alag cost tracking, escrow management, aur quarterly MahaRERA report file hota hai. RERA mein CA ka kya role? Escrow certify, quarterly financial statements, cost utilisation report prepare karta hai. Construction mein GST kitna? Affordable 1%, other residential 5% (bina ITC), commercial 12% (ITC ke saath).

Reviewed by CA and CS Team, Patron Accounting LLP ICAI & ICSI Registered| 15+ Years Experience| Last Updated: 20 March 2026 Verify Credentials →

Documents: RERA registration, project approvals, escrow bank statements, contractor invoices, land acquisition deeds

Fees: Starting from Rs 15,000/month per project for small developers

Eligibility: Developers, builders, contractors, SRA promoters, property management firms in Mumbai

Timeline: Onboarding 5-7 days; quarterly MahaRERA reports by 7th of quarter-end month

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“

Patron handles MahaRERA quarterly reports for our 6 residential projects across Thane and Navi Mumbai. Forms 1, 2, 3 filed before the 7th every quarter. Escrow reconciliation monthly. CA-certified cost statements ready for every audit. Zero MahaRERA notices in 3 years of engagement.

CFO

Residential Developer, Thane

★★★★★

1 month ago

“

Our SRA redevelopment in Jogeshwari needed dual-component accounting - rehabilitation and free-sale tracked separately. Patron set up the cost allocation, handles the SRA financial certification, and manages transit rent accounting. The TDR valuation support was invaluable for our project appraisal.

Managing Director

SRA Promoter, Jogeshwari

★★★★★

2 months ago

“

Patron assessed our Worli luxury project for Ind AS 115 POCM eligibility - contract-by-contract analysis based on Agreement for Sale terms. The auditor accepted the POCM application with zero queries because the documentation was thorough. Revenue recognition is now properly structured.

Director

Luxury Developer, Worli

★★★★★

3 months ago

“

As an MMRDA infrastructure contractor working on the Mumbai Metro, we needed milestone billing, retention accounting, and mobilisation advance tracking. Patron configured project-wise cost centres, handles monthly reconciliation across 4 GST divisions, and prepares our WIP valuation for audit. Complex work done professionally.

Project Manager

Infra Contractor, MMRDA

★★★★★

2 months ago

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CA-led construction accounting with MahaRERA escrow, POCM, project costing, and quarterly reporting for Mumbai developers.

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Overview What Is It Who Needs It Services Process Documents Challenges Fees Timeline Why Patron By Developer Type FAQs

Construction & Real Estate Accounting in Mumbai - Overview

📌 TL;DR - Construction Accounting in Mumbai Services at a Glance

Construction accounting covers project-wise cost tracking, MahaRERA escrow management, Ind AS 115 revenue recognition, GST on under-construction property, and quarterly compliance reporting. Every RERA-registered project must maintain 70% escrow, file quarterly progress reports, and obtain CA-certified financials.

Parameter	Detail
Governing Acts	RERA Act 2016; Companies Act 2013 (S.128); Ind AS 115; GST Act 2017
Applicable To	Developers, builders, contractors, SRA promoters, property managers
Timeline	Quarterly MahaRERA by 7th of Jul/Oct/Jan/Apr; annual audit by 30 Sep
Cost From	Rs 15,000/month per project (small developer)
Penalty	MahaRERA: project suspension, escrow freeze; S.128(6): Rs 50K-5L
Authority	MahaRERA; RoC Mumbai; GST Commissionerate Mumbai

Mumbai's real estate sector is India's largest. From BKC luxury towers to SRA Dharavi redevelopment, every project faces unique accounting demands. MahaRERA has tightened compliance with its quarterly reporting system (62% developer compliance). Maharashtra PT Act 1975 mandates PTRC for construction companies. Learn more about Construction Accounting across India.

Patron's Marine Lines office handles MahaRERA, GST Commissionerate Mumbai, and RoC Mumbai filings. Also see Accounting Services in Mumbai and GST Registration in Mumbai.

Content is reviewed quarterly for accuracy.

What Is Construction and Real Estate Accounting

Specialised financial management of project-based enterprises - developers, builders, contractors - governed by RERA Act 2016, Ind AS 115, and Companies Act 2013. For Mumbai developers registered with MahaRERA and RoC Mumbai: escrow management, POCM revenue recognition, project-wise cost allocation, and quarterly financial reporting.

A residential developer in Thane needs phase-wise cost tracking (land, material, labour, dev charges). A BKC commercial developer handles Ind AS 116 lease accounting + Ind AS 115 for sales. SRA promoters face dual accounting (rehabilitation + free-sale). CAs must know MahaRERA quarterly formats (Forms 1, 2, 3), MMRDA development charges, and Mumbai stamp duty.

Key Terms for Construction Accounting in Mumbai:

70% Escrow (RERA S.4): Buyer payments deposited in escrow. Withdrawals for land + construction only with CA certification. Quarterly reconciliation.

Ind AS 115 POCM: Revenue over time if no alternative use + enforceable payment right. ICAI clarified 20 July 2018. Per-project assessment.

MahaRERA QPR: Forms 1/2/3 by 7th quarterly. Non-filing = automatic notices in 10 days, project suspension, escrow freeze.

GST on Construction: Affordable 1% (no ITC). Other residential 5% (no ITC). Commercial 12% (with ITC).

S.194IA TDS: Buyer deducts 1% on property > Rs 50L. Form 26QB reconciliation for developers.

MahaRERA + Ind AS 115 Project Accounting

Who Needs Construction Accounting in Mumbai

Residential Developers (Worli, Lower Parel, Thane): Ind AS 115 revenue recognition, buyer advance management, luxury project quarterly MahaRERA compliance.

Infrastructure Contractors (MMRDA): Metro rail, coastal road, trans-harbour link. Milestone billing, retention accounting, mobilisation advance tracking.

SRA Promoters (Dharavi, Jogeshwari, Goregaon): Dual-component accounting for rehabilitation and free-sale units. Transit rent. TDR valuation. SRA financial certification.

Commercial Developers (BKC, Nariman Point): Ind AS 116 lease accounting, LRD structuring, REIT-able financials, tenant management.

Housing Society Redevelopment: Corpus fund, transit rent, developer contribution. Separate accounting for each component.

All MahaRERA Projects: > 500 sq.m. or > 8 units = quarterly QPR + CA-certified financials mandatory.

Construction Accounting Services Included

Service	What We Do
MahaRERA Escrow Management	70% escrow compliance, fund utilisation tracking, withdrawal documentation, quarterly reconciliation for all MahaRERA-registered Mumbai projects.
Project-Wise Cost Tracking	Phase-wise allocation: land, material, labour, contractor payments, MMRDA development charges, BMC premium for Mumbai projects.
Revenue Recognition (Ind AS 115)	POCM eligibility assessment, over-time vs point-in-time, contract modification, performance obligation identification for Mumbai developers.
MahaRERA Quarterly Reporting	Forms 1 (construction), 2 (project), 3 (financial) by 7th quarterly. CA-certified cost statements. Architect certification coordinated.
Developer GST Compliance	Under-construction flats: 5% (no ITC) or 12% (ITC). Affordable 1%. Reverse charge on contractors. GST on development rights (JDA).
Construction Payroll and PT	Labour payroll, PF/ESI for site workers, PTRC under Maharashtra PT Act 1975 for construction companies.
Statutory and Tax Audit	Schedule III financials for RoC Mumbai. Form 3CB-3CD for S.44AB. Concurrent audit for large projects.
SRA Redevelopment Accounting	Dual-component: rehabilitation + free-sale cost tracking. Transit rent. Corpus fund. IOD/CC stage-wise certification.

Our Process

6-Step Construction Accounting Process in Mumbai

Walk-in at Patron's Marine Lines, Mumbai office. Files with MahaRERA, GST Commissionerate Mumbai, and RoC Mumbai.

Step 1

Project Assessment and Regulatory Mapping

CA reviews MahaRERA registration, BMC/MMRDA approvals, land title, existing records. Maps to GST division (E/W/C/S), verifies MahaRERA number (P51900XXXXXX), confirms IOD/CC stages. Walk-in at Marine Lines near Churchgate.

Regulatory mappedMahaRERA verified

Assessed01

Step 2

Software Configuration

Tally/Zoho with construction chart: cost centres per phase, escrow ledgers, MMRDA charges, BMC premium, stamp duty, contractor tracking. GST mapped to Mumbai's 4-division Commissionerate for MMR projects.

Project ledgers liveEscrow configured

Configured02

Step 3

Monthly Bookkeeping and Cost Allocation

Accrual basis per S.128. Phase-wise and unit-wise cost allocation. GSTR-2B for ITC (high-value material purchases across Maharashtra). Bank reconciliation: operating + 70% MahaRERA escrow accounts.

Costs allocatedEscrow reconciled

Booked03

Step 4

MahaRERA Quarterly Compliance

QPR by 7th of Jul/Oct/Jan/Apr. Form 1 (construction progress), Form 2 (project details), Form 3 (financial data). CA-certified cost statements. Architect coordination. Non-filing = notices in 10 days, project suspension.

QPR filed on timeCost certified

Filed04

Step 5

Revenue Recognition and Reporting

Ind AS 115 five-step model. POCM vs point-in-time per contract. Monthly project profitability, cash flow forecasts, investor MIS. Listed developers: Ind AS quarterly per SEBI timelines.

Revenue recognisedMIS by 10th

Reported05

Step 6

Year-End Closure and Statutory Audit

Project-wise P&L, Schedule III balance sheet, deferred tax, WIP valuation. Audit-ready for RoC Mumbai statutory auditor. Tax audit Form 3CB-3CD. MahaRERA annual update. Records retained 8 years per S.128(5).

Audit-readyYear-end closed

Complete06

Documents Required for Construction Accounting

MahaRERA Registration Certificate
Project Approvals (IOD/CC from BMC/MMRDA)
Land Title Documents and JDA (if applicable)
Escrow Bank Statements (70% account)
Contractor Invoices and Work Orders
Buyer Agreements for Sale
Employee and Labour Records (payroll, PF/ESI, PTRC)
Previous Year Financials and Audit Reports

Mumbai-Specific: SRA projects: include SRA LOI, Annexure II approvals, society resolution, transit rent agreements. MMRDA projects: include MMRDA allotment letters and development charge receipts.

Common Construction Accounting Challenges in Mumbai

Challenge	Impact	How Patron Accounting Solves It
MahaRERA Quarterly Report Delays	62% compliance (2025). Automatic notices in 10 days. Escrow freeze. Thane-Navi Mumbai developers with multiple SPVs face Form 3 coordination difficulty.	Patron files QPR before 7th deadline. Architect + CA coordination. Escrow reconciled monthly.
Ind AS 115 POCM Confusion	Over-time vs point-in-time uncertainty. No alternative use + enforceable payment right test. BKC/Worli luxury developers have reversed revenues due to incorrect POCM.	Per-project POCM assessment by CA. Documented for auditor. ICAI 2018 clarification applied.
GST Dual Rate Complexity	5% no ITC (residential) vs 12% with ITC vs 1% affordable. Same project may have both categories. Incorrect rate = GST demand notices.	Patron files across all rate categories. ITC reconciliation. Proper rate classification per unit.
SRA Dual Accounting	Rehabilitation vs free-sale cost allocation. Incorrect split affects profitability and TDR. Dharavi/Jogeshwari/Goregaon scale challenge.	Separate component tracking. TDR valuation support. SRA financial certification prepared.
TDS S.194IA Reconciliation	Buyers deduct 1% on property > Rs 50L. Developers reconcile 26QB certificates with payment schedules. Challenging in 200+ unit projects.	Patron reconciles 26QB certificates with buyer-wise payment trackers. TDS credit matched.

Construction Accounting Fees in Mumbai - 2026

Fee Component	Amount
Single Project (< 50 units)	Rs 15,000 - Rs 30,000/month (5 days onboarding)
Multi-Project Developer (50-500 units)	Rs 30,000 - Rs 75,000/month (7 days onboarding)
Large Developer / Listed Entity	Rs 75,000 - Rs 2,00,000/month (10-15 days onboarding)
SRA / Redevelopment Project	Custom quote (7-10 days onboarding)

All fees and charges listed are indicative only and do not constitute a binding offer. Final amounts may vary depending on the volume of work and the complexity involved.

Professional service charges for drafting, filing, and representation are separate from the statutory fees. The exact fee depends on the complexity of the case, disputed amount, and number of hearings required. Contact us for a detailed quote.

Get a free Construction Accounting in Mumbai consultation - Call +91 945 945 6700 or WhatsApp us. No-obligation assessment.

Construction Accounting Timeline

Stage	Estimated Timeline
Onboarding + Project Assessment	5-7 working days (walk-in at Marine Lines)
Software Configuration	2-3 working days (Tally/Zoho + project cost centres)
First Monthly Closure	15-20 working days (opening balances + escrow migration)
Steady State Monthly Closure	By 10th of each month (ongoing)
MahaRERA Quarterly Report	By 7th of Jul/Oct/Jan/Apr (QPR Form 1/2/3)
Year-End Closure + Audit	20-30 working days (before statutory audit deadline)

Penalties: MahaRERA non-filing: automatic notices in 10 days, project suspension, escrow freeze - effectively halting sales. GST late: Rs 50/day CGST+SGST. RoC late: Rs 100/day. S.128(6): Rs 50,000-5,00,000. Every quarter of delay compounds MahaRERA scrutiny.

Key Benefits

Why Choose Patron for Construction Accounting in Mumbai

Marine Lines Office

Within Churchgate-Fort district. Walk-in for BKC, Nariman Point, Worli, Lower Parel, Andheri developers. MahaRERA documents reviewed face-to-face.

MahaRERA + GST + RoC

Files with MahaRERA, GST Commissionerate (4 divisions), RoC Mumbai, Maharashtra Stamp Duty. QPR before 7th. PTRC by 15th.

Multi-Project Capability

Handles 10+ concurrent projects with separate SPVs. Ind AS 115 POCM assessment. Escrow reconciliation. SRA dual-component.

10,000+ Businesses

Including residential developers, infrastructure contractors, SRA promoters, commercial firms. 15+ years. 4.9 Google rating.

Trusted by 10,000+ Businesses Across India

10,000+ Businesses | 4.9 Google Rating | 50,000+ Docs Filed | 15+ Years

Including residential developers, infrastructure contractors, SRA promoters across Mumbai. Offices in Pune, Mumbai, Delhi, Gurugram.

Accounting by Developer Type in Mumbai

Developer Type	Accounting Obligation	Mumbai Note
Residential Developer (MahaRERA)	70% escrow, quarterly QPR, Ind AS 115 revenue, CA-certified cost	MahaRERA suspension for non-filing; 62% compliance rate
SRA Redevelopment Promoter	Dual-component (rehab + free-sale), transit rent, TDR, SRA certification	High volume Dharavi, Jogeshwari, Goregaon; complex approval chain
Infrastructure Contractor (MMRDA/BMC)	Milestone billing, retention, mobilisation advance, WIP valuation	Metro, coastal road, trans-harbour link projects in Mumbai
Commercial Developer (BKC/Nariman Point)	Ind AS 116 lease, LRD structuring, REIT-able financials, tenant mgmt	BKC and Nariman Point office space; pre-lease revenue structuring

Related Accounting and Compliance Services

Legal and Compliance Framework

RERA Act 2016: S.4 - 70% escrow. S.11 - quarterly updates. S.14(3) - 5-year structural defect liability. S.3 - mandatory registration (> 500 sq.m. or > 8 units).

Ind AS 115: 5-step revenue model. POCM if no alternative use + enforceable payment right. ICAI clarification 20 July 2018.

Companies Act 2013: S.128 books of account. S.128(6) penalty Rs 50K-5L. S.44AB tax audit. S.148 cost records for manufacturing.

GST: Affordable 1% (no ITC). Other residential 5% (no ITC). Commercial 12% (ITC). S.194IA TDS 1% on property > Rs 50L.

Portals: MahaRERA | MCA/RoC

FAQs - Construction Accounting in Mumbai

Answers to common questions. Call +91 945 945 6700.

Quick Answers

Builder ka accounting kaise hota hai? Har project ka alag cost tracking, escrow management, aur quarterly MahaRERA report file hota hai.

RERA mein CA ka kya role? Escrow certify, quarterly financial statements, cost utilisation report prepare karta hai.

Construction mein GST kitna? Affordable 1%, other residential 5% (bina ITC), commercial 12% (ITC ke saath).

MahaRERA Non-Filing = Project Suspension. Start Today.

Missing MahaRERA QPR: automatic notices in 10 days, project suspension, escrow freeze - halts sales and withdrawals. GST late: Rs 50/day. RoC late: Rs 100/day. S.128(6): Rs 50K-5L. Every quarter of delay compounds compliance risk.

Patron onboards in 5-7 days. Call +91 945 945 6700 or WhatsApp us. From Rs 15,000/month/project.

Your Projects, Compliant and Audit-Ready

Construction accounting in Mumbai ensures MahaRERA compliance, Ind AS 115 revenue recognition, project costing, and GST compliance. For developers, builders, contractors, SRA promoters across BKC, Worli, Thane, Navi Mumbai, and the wider MMR.

Patron Accounting, Marine Lines, Mumbai. Project-wise bookkeeping, escrow management, quarterly MahaRERA reporting. 15+ years, 10,000+ businesses, 4.9 Google rating.

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Content Created: 20 March 2026 | Last Updated: 20 March 2026 | Next Review: 20 September 2026 | Reviewed By: CA & CS Team, Patron Accounting LLP

This page is reviewed semi-annually (Freshness Tier 2) to reflect MahaRERA rule changes, Ind AS 115 guidance, GST rate updates, and Maharashtra stamp duty revisions. Next review: September 2026.

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