Under the Real Estate (Regulation and Development) Act, 2016, a promoter must deposit 70% of the amounts realised from allottees for a project into a separate account and withdraw from it in proportion to the completion of the project, certified by an engineer, an architect and a chartered accountant. The rule protects buyers. It also turns collections into a reconciliation that has to be right project by project, every month.
Why the reconciliation is hard
Receipts arrive by cheque, transfer, home-loan disbursement and sometimes in error to the wrong project. Bookings change through cancellations and transfers. Payment plans are linked to construction milestones. And the bank, the CRM and the ERP each hold part of the truth.
- Buyer receipts matched to bookings by hand, often from bank narration text
- Home-loan disbursements arriving without the booking reference
- Cancellations and refunds that move money back across projects
- Withdrawal requests assembled from certificates held by three professionals
What changes with one model
When buyers, units, payment plans, receipts and bank accounts sit on one governed data model, the daily match becomes routine. An agent can clear matches inside tolerance, explain the rest with the evidence attached, and keep a running position of what is eligible for withdrawal against certified progress.
Who does what in a supervised project-finance squad
Agent designs from our AI & Agentic Engineering practice
| Agent | What it does | Who decides |
|---|---|---|
| Designated-Account Reconciler | Matches receipts to bookings and the RERA account; explains breaks | Finance controller |
| Withdrawal Request Preparer | Assembles certificates and checks cost against completion | CFO |
| GST & TDS Reconciler | Matches tax on property transactions across returns | Tax manager |
Note: Designs, not delivered results. No withdrawal or correction is made without a person.
Where to start
Pick one project with a clean bank mandate and a complete booking list. Build the buyer-to-bank match, measure the unreconciled balance each week, and only then add withdrawal preparation and tax matching on the same model.