TG RERA Gives Promoters More Time for Form 7: Why the Annual Audit Matters to Buyers
TG RERA's Special Circular III of September 30, 2026 gives promoters a one-time extension to file the Form 7 annual audit report for FY 2025-26, with a revised due date of 21.12.2026. What the audit verifies about buyers' money and how Hyderabad buyers can check a project.
On September 30, 2026, the Telangana Real Estate Regulatory Authority signed a one-page circular that most Hyderabad homebuyers will never read. Special Circular III, issued under file No.629/TG RERA/2024, gave real estate promoters more time to file one specific document: the Annual Audit Report on statement of accounts, known as Form 7, for the financial year 2025-26. The new deadline in the circular is 21.12.2026. That date matters to buyers for a simple reason: Form 7 is the annual check on whether the money buyers paid into a project actually went into that project.
The circular is posted on the TG RERA website, where it sits under Latest Updates. This explainer sets out what the extension says, what the annual audit is supposed to verify, and what a Hyderabad buyer paying instalments on an under-construction flat can sensibly do with that information.
The short answer. TG RERA's Special Circular III grants a one-time extension for Form 7 for FY 2025-26, with a revised due date of 21.12.2026 in the circular itself, though the homepage ticker reads 12.12.2026. The audit exists because the RERA Act requires promoters to have accounts audited by a chartered accountant within six months after each financial year and to verify that project collections were used for that project. The trade-off: the extension gives promoters more time to get the audit right, but it also means buyers wait longer for the year's certified statement on how their money was used.
What exactly did TG RERA extend on September 30, 2026?
TG RERA extended the deadline for promoters to file the Annual Audit Report on statement of accounts, Form 7, for FY 2025-26. According to the circular, promoters' associations and other stakeholders had asked for more time, arguing that the Income Tax due date for filing the audit report had been extended to 21st November 2026 and that their statutory auditors were still finalising the books for FY 2025-26.
The Authority said it acknowledged "the genuine concerns expressed" and decided to provide "a one-time extension". The circular gives the revised due date for Form 7 submission as 21.12.2026. It also states that the extension "is granted as a special measure and should not be construed as a precedent for future submissions."
One detail is worth flagging. The scrolling notice on the TG RERA homepage describes the same item as "Revised due date is 12.12.2026". The signed circular, which is the document itself, says 21.12.2026. A buyer does not need to resolve this, but anyone advising a promoter should rely on the circular and confirm directly with the Authority.
Why should a buyer care about a promoter's audit filing?
Because Form 7 is the closest thing a buyer has to an annual report on whether their instalments were used properly. The obligation comes from the third proviso to Section 4(2)(l)(D) of the Real Estate (Regulation and Development) Act, 2016.
A 2020 notification of the Haryana Real Estate Regulatory Authority, Gurugram, published in the Haryana Government Gazette, quotes that proviso: the promoter "shall get his accounts audited within six months after the end of every financial year by a chartered accountant in practice", shall produce a statement of accounts certified and signed by that chartered accountant, and it "shall be verified during the audit that the amounts collected for a particular project have been utilised for the project and the withdrawal has been in compliance with the proportion to the percentage of completion of the project."
The same notification lists what the examination covers, including that seventy percent of the amounts realised from allottees has been deposited in a separate account in a scheduled bank to cover the cost of construction and the proportionate land cost, and that withdrawals were made after certification by an engineer, an architect and a chartered accountant in practice. Haryana's directions apply to Haryana, but the proviso they quote is part of the central Act that also governs Telangana.
What does the extension change, and what does it not change?
The extension changes the filing date for one year's audit report. It does not change the underlying duty in the Act, and the circular itself warns that it should not be read as a precedent. It also keeps the consequence for missing the new date in place.
| Item | What the official record says | Source |
|---|---|---|
| Document extended | Annual Audit Report on statement of accounts, Form 7, FY 2025-26 | TG RERA Special Circular III |
| Revised due date | 21.12.2026 in the circular; homepage ticker reads 12.12.2026 | TG RERA circular and homepage |
| Nature of relief | One-time extension, not a precedent | TG RERA Special Circular III |
| If missed | Penalties under Section 60 and delay fee under Circular II of 18.03.2025 | TG RERA Special Circular III |
| What the audit verifies | Project collections used for that project; withdrawals in proportion to completion | RERA Act proviso, quoted in Haryana RERA notification |
The circular says that failure to comply with the extended deadline "may attract penalties as per the provisions of Section 60" of the Act and a delay fee as per Circular II dated 18.03.2025. It also directs that Form 7 be submitted in accordance with the formats under Regulation 5 of the Telangana State Real Estate Regulatory Authority (General) Regulations, 2023.
How do you check that a Hyderabad project is registered in the first place?
Start with registration, because an audit filing only matters for a registered project. The TG RERA FAQ answers the question directly: "The Flat/Plot Buyer should visit TG RERA website which would display all the registered projects." The site's menu links a page titled "Search Registered Projects and Agents".
The FAQ adds that "the advertisement for marketing of flats/Plots in the real estate project must carry the TG RERA registration number" under Section 11(2). So the practical test is to take the registration number printed on a brochure, hoarding or listing and confirm it returns the same project name and promoter on the TG RERA search. If you are tracking a listed project such as My Home Vyoma at Nanakramguda, the same match applies: compare the number on the project page with what TG RERA shows.
The FAQ also explains which projects need registration. A project with land area of more than 500 square metres needs registration even with fewer than eight apartments, and a project with more than eight apartments needs registration even on less than 500 square metres. It states that it is mandatory for every promoter and co-promoter to obtain building or layout permission from the competent local authority before applying for registration.
What else in the TG RERA rules protects money paid in instalments?
Several FAQ answers bear on the same concern the audit addresses. On joint development, the FAQ says the Act makes both the promoter and the landowner, or any party that receives payments from allottees, co-promoters who must follow the Act, and that withdrawal of money is subject to Section 4. On phased projects, it says each phase is a standalone project that must be registered separately, and that a promoter "cannot advertise, commit or sell amenities or facilities that are in a subsequent phase which is still not registered." PropNewz covered those phase rules in detail in its guide to phased projects in Hyderabad.
On delay, the FAQ says that if the promoter fails to keep the completion schedule, it must pay the allottee who does not withdraw interest as specified in the Rules for every month of delay until possession, under Section 18. On a buyer's own late payments, the FAQ says the allottee pays interest at the State Bank of India highest Marginal Cost of Lending Rate plus 2 percent, under Rule 15.
What can a buyer do while the audit report is pending?
A buyer can keep their own records in order and use the official channels the Authority has published. The TG RERA website links a complaint portal under "Register Complaint", and the FAQ says any aggrieved person with an interest in a registered project can file a complaint under Section 31. It adds that appeals against TG RERA orders go to the Appellate Tribunal within sixty days under Section 43(5).
A buyer can also ask the promoter, in writing, when Form 7 for FY 2025-26 will be filed and whether a copy of the chartered accountant's statement can be shared with allottees. That is a request, not a legal entitlement this article has confirmed, but it is a reasonable question to ask before paying the next instalment. For more on how TG RERA has been tightening financial oversight, see PropNewz's earlier report on the TG RERA enforcement framework.
Here is a short checklist for buyers with money in an under-construction Hyderabad project:
- Search the project on the TG RERA site and confirm the registration number, project name and promoter match your agreement.
- Check that every brochure or advertisement you received carries the same TG RERA registration number.
- If the project has phases, confirm the phase you bought into is separately registered.
- Note the revised Form 7 due date of 21.12.2026 given in TG RERA's Special Circular III.
- Ask the promoter in writing when the FY 2025-26 Form 7 will be filed.
- Keep receipts showing which bank account each instalment was paid into.
- Use the TG RERA complaint portal if a grievance is not resolved, and keep copies of everything you file.
Frequently asked questions
What did TG RERA's Special Circular III of September 30, 2026 change?
It gave promoters a one-time extension for filing the Annual Audit Report on statement of accounts, Form 7, for FY 2025-26. The circular sets the revised due date as 21.12.2026, while the TG RERA homepage ticker reads 12.12.2026. The circular says the extension should not be treated as a precedent.
What does the Form 7 annual audit actually check?
As the Act's third proviso to Section 4(2)(l)(D) is summarised in an official RERA notification, a chartered accountant in practice must audit the promoter's accounts within six months after each financial year and verify that money collected for a project was used for that project and withdrawn in proportion to completion.
How can a Hyderabad buyer confirm a project is registered with TG RERA?
TG RERA's FAQ says buyers should visit the TG RERA website, which displays all registered projects. The site links a Search Registered Projects and Agents page. The FAQ also says advertisements for flats or plots must carry the TG RERA registration number, so match the number in any brochure with the search result.
What happens if a promoter misses the extended Form 7 deadline?
The circular says failure to comply with the extended deadline may attract penalties as per Section 60 of the Real Estate (Regulation and Development) Act, 2016 and a delay fee under Circular II dated 18.03.2025. It does not list a separate remedy for buyers, who can use the TG RERA complaint portal for grievances.
This article explains official documents for general information and is not legal or financial advice. Buyers with a specific dispute should consult a qualified professional.
Last updated 2026-11-07. PropNewz Team.
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