CA stands for Chartered Accountant. It plays one of the important role in the real estate sector.
Initiative towards the betterment of the real estate sector like applicability of RERA, Affordable Housing Scheme, Single Window Clearance etc, will help to boost the real estate sector and hence the overall economy of the nations again.
RERA: It mandates the promoter to get their project registration from the RERA authority. It also requires a CA certificate for the cost incurred to the project. Consultancy in RERA for applicability, registration and compliances is a new emerging area for CAs.
Approvals and Liasoning: A CA with a deep understanding of Local land development rules and proper liasoning with Govt departments can assist the promoter to obtain permissions.
Labour Laws: CA are providing consultancy for registration and periodical compliances under the laws related to labour.
Taxation Laws: Tax is a traditional area for CAs. CAs are the expert gem in taxation laws like Income Tax and Indirect taxes and the same is witnessing a major change in the current scenario through the applicability of GST.
Project Finance and Private Equity: Real estate sector also needs finance and again CAs are the best ones to analyse their financial requirement, conduct the project feasibility and viability analysis, representation before financial institutions etc. CAs are also playing a major role as a bridge between investors and real estate developers.
Arbitrator: Real estate sector involves ratio deals and multiple stakeholders like the landowner, land developers, contractors and end customers so CAs are also acting as arbitrators between various stakeholders of the project.
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