Western Region Committee of Builders Association of India has sought an extension of the September 30 deadline set by the Real Estate Regulatory Authority (RERA). Builders demand December 31 as the date to file Annual Statement of Accounts form-5. Promoters/developers are facing technical glitches in uploading form 5, leading to stress.
Annual Statement of Accounts via form 5 under the RERA Act aims at providing transparency and ensuring that developers make due compliance for the benefit of all the stakeholders in the industry.
Members are raising concerns about the hardships being faced by them in complying with the statutory obligations in a timely and effective manner. The increased workload is such that the deadline cannot be adhered to even by doing overtime. The objective will be better served if sufficient time is given to digest the changes before uploading.
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