Our service offerings for the Real Estate and Construction industry
The Indian infrastructure (construction) and real estate industry is playing key role in the nation’s progress towards achieving the status of ‘developed nation’ from a ‘developing nation’. However, there is a consensus that infrastructure inadequacies would constitute a significant constraint in realising our growth potential.
An ambitious program of infrastructure investment has therefore been evolved for strengthening and consolidating recent infrastructure and real estate related initiatives. To supplement the estimates of Gross Capital Formation in infrastructure, the Planning Commission has made projections of public-private investments in each sector, basing these on a detailed review of sectoral trends and projected expenditures.
The Indian real estate sector plays a significant role in the country's economy, which is second only to agriculture in terms of employment generation and contributes heavily towards the gross domestic product (GDP). About five per cent of the country's GDP is contributed to by the housing sector.
Almost 80 per cent of real estate developed in India is residential space, the rest comprising of offices, shopping malls, hotels and hospitals. According to the Tenth Five-Year-Plan, there was a shortage of 22.4 million dwelling units. Thus, over the next 10 to 15 years, 80 to 90 million housing dwelling units will have to be constructed with a majority of them catering to middle- and lower-income groups.
Between April 2000 and about end of 2014, the construction development sector received about $24 bn, constituting 10 per cent of the overall FDI into the country during the period.
How we can help:
RSM provides a wide range of professional services to the real estate and construction industry in the following areas:
- Techno-commercial and / or concurrent internal audits for the real estate sector
- Internal, special audits to ensure improved efficiency, internal processes and controls
- IT and IT security advisory services and related audits of hardware, connectivity and software
- Designing and setting up enterprise wide Standard Operating Processes (SOPs) and systems for uniform working
- Direct and indirect tax advisory and representation services
- Concurrent audits of toll plazas (even if they are located at remote places) with focus on cash collection, vehicular movements, security aspects, etc.
- RSM in India is consistently ranked amongst India’s top six accounting and consulting groups and RSM globally is the seventh largest network of audit, tax and consulting firms
- Extensive experience in catering to the real estate and construction industry in advisory, taxation and accounting matters across functions and borders
- Multi-disciplinary team of professionals comprising of Chartered Accountants, Management Graduates, Engineers, Company Secretaries, Cost Accountants and Law Graduates