RRL Accounting Services: Bridging the Innovation Gap in the Real Estate Sector
The introduction of WBHIRA (West Bengal Housing Industries Regulation Act) in June 2018 has come to fruition, leading to the real estate industry gaining the much needed traction. This government initiative in tandem with RERA and GST has resulted in the protection of interest of investors and consumers with the implementation of a regulatory regime that has been put in place to significantly improve the transparency levels and the state of accountability in the real estate segment. As these acts infuse a form of orderliness in this sector with no room for unscrupulous promoters or realtors, a solution provider with an online portal facilitating clients with the details of the builders and projects along with its compliance levels is of critical need. Coming to the fore is West Bengal headquartered RRL Accounting Services with its team of experienced chartered accountants that play a key role in this segment.The company caters to the promoters and real estate buyers where the team assists the promoters in making them aware of the compliances needed to be adhered to, giving them an edge in the real estate market. As observed by RRL Accounting services, most large scale corporates are already compliant. It is the mid level which forms a huge portion of real estate promoters that demand handholding and assistance in understanding the workings of the real estate industry as the various real estate acts mandate. The company handholds customers in all the aforementioned areas which are RERA, WBHIRA, GST and helping maintain their accounts. “In terms of buyers, we are trying to give them due diligence of the project and we have recently started a service called ‘Know Your Project’ where we tell you whether your project is compliant or not, the compliance level of the project, whether the project is registered or
not along with related documents, inform the client that they are required to pay TDS or not and advise clients on how to pay GST and the right amount to be paid,” informs Gopal Krishna Lodha, Founder of RRL Accounting Services.
Being an end-to-end solution provider, the company provides a comprehensive suite of services that comprises project registration, real estate agent registration, which is a complete online process, certification and accounting compliance, legal services, insurance of project where the clients are guided along the course of the importance of insurance with insurance provider leads and management discussion, training and workshop that educates the client on the precautions and measurements to be taken to ensure the rules and regulations are abided to.
This industry displays great promise and RRL Accounting envisions expanding its reach across India and bringing in more awareness in class two cities. With the aim to be even more proactive to the grievances of the real estate buyers, the company is gearing itself to be more technologically advanced, a platform powered by AI or other modes making it accessible to anyone whether they are promoters, real estate agents, real estate buyers or financial institutions. Simultaneously, the company intends to tie up with the banks and pass on leads of expected buyers for home loans.
The company caters to the promoters and real estate buyers where the team assists the promoters in making them aware of the compliances needed to be adhered to, giving them an edge in the real estate market
Being an end-to-end solution provider, the company provides a comprehensive suite of services that comprises project registration, real estate agent registration, which is a complete online process, certification and accounting compliance, legal services, insurance of project where the clients are guided along the course of the importance of insurance with insurance provider leads and management discussion, training and workshop that educates the client on the precautions and measurements to be taken to ensure the rules and regulations are abided to.
This industry displays great promise and RRL Accounting envisions expanding its reach across India and bringing in more awareness in class two cities. With the aim to be even more proactive to the grievances of the real estate buyers, the company is gearing itself to be more technologically advanced, a platform powered by AI or other modes making it accessible to anyone whether they are promoters, real estate agents, real estate buyers or financial institutions. Simultaneously, the company intends to tie up with the banks and pass on leads of expected buyers for home loans.
