The Importance of Providing Uniform Data Across All Stakeholders

Author: CA Vinay Thyagaraja, Senior Partner – Venu & Vinay Chartered Accountants.

Introduction:

One of the main objectives of the Real Estate (Regulation and Development) Act, 2016 (RERA) is to ensure transparency and accountability in the real estate sector. In 2025, this goal remains crucial as real estate continues to play a major role in India’s economy, social development, and urban planning.

Why Uniform Data Matters

RERA aims to make information about projects, developers, and transactions consistent and reliable for all stakeholders — including buyers, investors, regulators, lenders, and tax authorities. However, even today, data often differs across departments, systems, and reports. Such discrepancies can lead to compliance issues, financial risks, and loss of public trust.

Digitalisation and Transparency

With rapid digitalisation and the use of technologies, the real estate industry has new opportunities to automate reporting and improve data accuracy. Many RERA authorities (like MahaRERA, UP-RERA, and Karnataka RERA) have launched online dashboards where project data, quarterly updates, and financial details are available to the public.

Uniform and verified digital data helps:

Key Stakeholders Who Rely on Consistent Data

Developers and Management – need accurate data to track costs, sales, and project progress.

RERA Authorities – ensure projects are registered, compliant, and transparent.

Lenders and Investors – verify that project funds are used as intended.

Homebuyers – assess builder credibility and project status before purchase.

Government and Tax Bodies – monitor approvals, taxes, and financial disclosures.

Common Gaps Found

Experience shows that data shared with different agencies often varies — such as project cost, sales figures, completion percentage, or receivables. These mismatches can raise red flags during audits or regulatory reviews. Promoters are therefore advised to maintain reconciliation statements to justify differences and avoid penalties.

Promoters’ Responsibility under RERA

Promoters must file uniform data across:

With circulars in the past mandating professional certificates for every bank withdrawal, regulatory scrutiny has intensified — and digital trails make inconsistencies easily traceable.

Conclusion

As India’s real estate market becomes increasingly digital and data-driven, uniform, accurate, and transparent reporting is not just a compliance requirement — it is a business necessity. Promoters and professionals should ensure that the information shared with RERA, lenders, buyers, and tax authorities matches, and maintain reconciliations wherever differences exist. Doing so builds trust, reduces regulatory risk, and supports RERA’s core goal — a transparent, credible, and investor-friendly real estate ecosystem.

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