The Karnataka Real Estate Regulatory Authority (“K-RERA”) issues this circular under its powers under Sections 25 & 37 of the Act. Promoters of registered real estate projects are required by the third proviso to Section 4(2)(1)(D) to have their accounts audited within six months of the end of each financial year, certify a statement of accounts (showing project collections have been used in accordance with percentage of project completion) and submit the audit-report formatted in Form-7. This obligation is further reinforced by the Karnataka Real Estate (Regulation & Development) Rules, 2017.

• The deadline for promoters of registered projects to submit Form-7 along with audited financial statements (profit & loss account, balance sheet with schedules, cash-flow statement, Income Tax Returns and auditor’s report) for the financial year ending March 31, 2025, is extended to on or before December 10, 2025.
• Submission must be made through the dedicated online module on the K-RERA web portal by logging into “Annual Audit” under the Registration section.
• If promoters face login or submission issues, they may raise a help-desk ticket as specified.
• The usual requirement remains: the audit must be certified by a practising chartered accountant and must verify that amounts collected for the specific project were utilised accordingly, and any withdrawal complies with the percentage of project completion.