Reading a Hyderabad Project's Form 3: How TG RERA's CA Certificate Shows Where Your Money Sits
TG RERA's revised Form 3 chartered accountant's certificate, filed at registration, with quarterly updates, at completion and for withdrawals, shows a Hyderabad buyer a project's estimated and incurred cost, how much the promoter may withdraw, its three RERA bank accounts and whether 70 or 100 per cent of balance receivables must be deposited.
Three bank accounts, one formula and a single test that decides whether 70 per cent or 100 per cent of the money still to come from buyers must be ring-fenced. All of it sits on one document that most Hyderabad flat buyers never open: the chartered accountant's certificate that Telangana RERA calls Form 3.
TG RERA publishes a revised version of the form, titled "New Form-3 Chartered Accountant's Certificate (On Letter Head)", as a link on its home page. We downloaded and read the Form 3 PDF on 12 November 2026. It is a template, not a filing, but it tells you exactly what a project's accountant has to certify, and so what to look for when the certificates for a project you are considering are available to you.
The short answer. Form 3, under Regulation 5, is filed at registration, with quarterly updates, at completion and for withdrawals from the separate account. It certifies the project's estimated and incurred cost, the amount the promoter may withdraw, the receivables from booked and unbooked units, three project bank accounts, and the means of finance. Its key test: if the project's estimated receivables exceed the balance cost to complete, 70 per cent of balance receivables go into the designated account; if they fall short, 100 per cent of balance receivables of an ongoing project go in. In our illustration, a Rs 100 crore project with Rs 40 crore spent can draw Rs 40 crore in total. The trade-off: the certificate is only as good as the figures the promoter's management produces, and the form itself says it is based on records and explanations given to the accountant.
What is TG RERA's Form 3, and when is it filed?
Form 3 is the chartered accountant's certificate of financial progress of a registered project. The heading of the template says it is "See Regulation 5" and that it is to be submitted at the time of registration, quarterly updates, completion of the project and subsequent withdrawal of money from the separate account of the project.
The certificate is addressed to the promoter and names the project, its TG RERA registration number and the period covered. The accountant states that it is issued for RERA compliance and is based on the records and documents produced, explanations provided by the management of the company and verification of the books of accounts for the quarter. It ends with the accountant's name, firm, membership number and a UDIN field.
Because it is linked to quarterly updates, Form 3 sits alongside the quarterly progress report that we explained in our guide to TG RERA quarterly progress reports.
How does Form 3 calculate what a promoter can withdraw?
Table A sets out the estimated cost of the project at registration in one column and the cost incurred in another. Land cost includes items such as the cost of land or development rights, premiums for FSI or additional FSI, TDR, stamp duty and registration fees. Development cost includes the estimated cost of construction certified by an engineer and the actual cost incurred and paid as verified by the accountant, with a note that the minimum of the two is to be considered.
The form then computes the proportion of cost incurred and paid to total estimated cost. The amount which can be withdrawn from the designated account is total estimated cost multiplied by that proportion. From that, the amount already withdrawn as per the books of accounts and bank statement is deducted, and the result is the net amount which can be withdrawn under the certificate.
A worked illustration, with our own round numbers: a project's total estimated cost is Rs 100 crore and Rs 40 crore has been incurred and paid. The proportion is 40 per cent, so the cumulative withdrawable amount is Rs 40 crore. If Rs 30 crore has already been withdrawn, the net amount this certificate allows is Rs 10 crore.
| Form 3 section | What it certifies | What a buyer can check |
|---|---|---|
| Table A | Estimated cost at registration and cost incurred, by land and development heads | Whether incurred cost is moving in line with visible site progress |
| Withdrawal lines | Total estimated cost times proportion incurred, less amount already withdrawn | That withdrawals do not run ahead of spending |
| Table B | Booked units with consideration, amount received and balance; unbooked units with estimated sale proceeds | How much of the project is sold and how much money is still to come |
| Table C | Collection, separate and transaction accounts with opening balance, deposits, withdrawals and closing balance | That your demand letter names one of the listed project accounts |
| Table D | Own funds, secured and unsecured borrowings and customer receipts used | How dependent the project is on borrowing and on buyers' money |
When does 70 per cent become 100 per cent?
The additional information page of Form 3 answers this with a simple comparison. Line 1 is the estimated balance cost to complete the project, which is total estimated cost less cost incurred. Line 4 is estimated receivables, which is the balance receivable from booked apartments plus the estimated sales proceeds of unbooked units.
Line 5 then says: if line 4 is greater than line 1, 70 per cent of the balance receivables of the project will be deposited in the designated account. If line 4 is less than line 1, 100 per cent of the balance receivables of an ongoing project will be deposited in the designated account.
Continuing our illustration: balance cost to complete is Rs 60 crore. If balance receivables from booked units are Rs 20 crore and unbooked units are estimated at Rs 30 crore, estimated receivables are Rs 50 crore, which is less than Rs 60 crore. On the form's test, 100 per cent of balance receivables would go to the designated account. If unbooked units were estimated at Rs 50 crore instead, receivables of Rs 70 crore would exceed the balance cost and the 70 per cent figure would apply.
What do the three bank accounts tell a buyer?
Table C asks for three accounts: the collection account of the project, the separate account of the project and the transaction account of the project. For each it records the account number, IFSC code, bank name, opening balance, deposits during the period, withdrawals during the period and closing balance.
Below the table, the accountant certifies that the required proportion of money collected from allottees, as specified in the Act, has been deposited in the designated RERA bank account, and that the promoter has used the required proportion of money collected from allottees for land and construction of that project only.
For a buyer, the practical step is to compare the bank and account named in your demand letter or payment receipt with the accounts disclosed for the project. If you are looking at a project such as Casagrand Mandarin in Ameenpur, the place to do that comparison is the project's TG RERA registration record, not the brochure.
What does the means of finance table reveal?
Table D breaks project funding into own funds, total borrowed funds that are secured, total borrowed funds that are unsecured, customer receipts used for the project and total funds, set against total estimated cost from Table A. It asks for figures estimated at registration, proposed as on the date of the certificate and actual as on that date, and for secured and unsecured borrowing it asks for the drawdown availed till date.
Read alongside Table B, this shows how much of the build is being paid for by buyers rather than by the promoter or lenders. The form does not set any benchmark for these proportions, so treat the table as information for your own judgment and for questions to the promoter, not as a pass or fail test.
How does Form 3 relate to the annual audit in Form 7?
Form 3 is a periodic certificate tied to registration, quarterly updates, withdrawals and completion. The annual audit report on the statement of accounts, which TG RERA calls Form 7, is a separate yearly filing. Its deadline for 2025 to 26 was the subject of our earlier piece on the TG RERA Form 7 annual audit extension.
The two are meant to work together: the periodic certificates track money in and out as construction moves, and the annual audit reviews the year as a whole. A buyer does not need to be an accountant to use them. Look for consistency between them and with what you can see on site.
What should a Hyderabad buyer do with Form 3?
Treat Form 3 as a set of questions to ask before and after you book. These seven steps cover the essentials:
- Find the project on the TG RERA registered projects search and note the registration number exactly as filed.
- Ask the promoter for the latest Form 3 certificate, or look for it in the project's TG RERA record, and note the period it covers.
- Compare the percentage of construction completed with what you can see on site.
- Check that withdrawals do not exceed total estimated cost multiplied by the proportion of cost incurred and paid.
- Apply the receivables test yourself: compare estimated receivables with the balance cost to complete.
- Match the bank name and account in your demand letter with the accounts listed in Table C.
- Ask the promoter to explain any large gap between the estimated and actual columns of the means of finance table.
Frequently asked questions
What is Form 3 under TG RERA?
Form 3 is the chartered accountant's certificate under Regulation 5, published on the TG RERA website. It is submitted at registration, with quarterly updates, at completion and for withdrawals from the separate account, and it certifies the project's estimated and incurred cost, sales receivables, bank accounts and means of finance.
How much can a Hyderabad promoter withdraw from the RERA account?
Form 3 calculates the withdrawable amount as total estimated cost multiplied by the proportion of cost incurred and paid, less amounts already withdrawn. In our example, a Rs 100 crore project with Rs 40 crore incurred allows Rs 40 crore in total, so Rs 10 crore if Rs 30 crore was already withdrawn.
When does a promoter have to deposit 100 per cent of receivables?
Form 3's additional information says that if estimated receivables of the project are less than the estimated balance cost to complete it, 100 per cent of balance receivables of an ongoing project are deposited in the designated account. If receivables are greater than the balance cost, 70 per cent is deposited.
Which bank accounts does Form 3 list for a project?
Table C of Form 3 asks for the collection account, the separate account and the transaction account of the project, each with account number, IFSC code, bank name, opening balance, deposits and withdrawals during the period, and closing balance. Buyers can match the account named in demand letters with these details.
This article explains the TG RERA Form 3 template for information. The rupee figures are our illustrations, not any project's data. It is not legal or financial advice; the Act, rules, regulations and your agreement govern your rights.
Last updated 2026-11-12. PropNewz Team.
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