https://www.taxtmi.com/article/detailed?id=6908 The Act mandates registration of every real estate project and each phase thereof before any sale or offer; limited exemptions apply. Promoters must submit prescribed documents and an affidavit on title, encumbrances and completion timelines, and deposit the major portion of funds received from allottees into a separate bank account. Withdrawals from that account require certification by an engineer, architect and chartered accountant and annual audited accounts must verify proper utilisation. The Authority will operate an online system, grant or deem registration within set timeframes, and may extend, condition or revoke registrations with powers to freeze accounts and facilitate completion of remaining works. en-us Mon, 25 Jul 2016 12:16:28 +0530 Mon, 25 Jul 2016 12:16:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6908 The Act mandates registration of every real estate project and each phase thereof before any sale or offer; limited exemptions apply. Promoters must submit prescribed documents and an affidavit on title, encumbrances and completion timelines, and deposit the major portion of funds received from allottees into a separate bank account. Withdrawals from that account require certification by an engineer, architect and chartered accountant and annual audited accounts must verify proper utilisation. The Authority will operate an online system, grant or deem registration within set timeframes, and may extend, condition or revoke registrations with powers to freeze accounts and facilitate completion of remaining works. Articles Other Topics Mon, 25 Jul 2016 12:16:28 +0530 https://www.taxtmi.com/article/detailed?id=6908