Sr. Account Executive/Assistant Manager - Real Estate

Job description:

Job Title: Sr. Account Executive/ Assistant Manager (Real Estate)

Experience:- Minimum 4 years in Real Estate is Mandatory
Location: Kolkata
Department: Finance
Reports to: Director

Position Summary:

The Sr. Account Executive/ Assistant Manager will be responsible for overseeing the financial operations of the company, ensuring accurate and timely financial reporting, budgeting, and forecasting. This role will also manage day-to-day accounting operations, financial planning, and analysis to support the strategic goals of the company, particularly as it enters the real estate development sector.

Key Responsibilities:

Accounting & Financial Management

• Strong grasp of real estate accounting principles
• Proficiency in finalization of accounts, including profit & loss, balance sheet, and cash flow statements.
• Knowledge of percentage of completion method (POCM) and its implications on revenue recognition in real estate projects.
• Cost allocation between land, development, marketing, and other expenses.
• Understanding of working capital management, ensuring smooth cash flow and fund management.

Taxation & Regulatory Compliance

• GST on Real Estate:
• Input Tax Credit (ITC) applicability.
• GST rates for affordable vs. luxury housing.
• Reverse charge mechanism (RCM) for real estate transactions.
• Income Tax & Direct Tax Compliance.
• Tax Deducted at Source (TDS) under sections like 194-IA, 194C, and 194H (applicable on property transactions, contractors, and brokerage).
• Capital gains tax implications on land transactions.
• Income tax treatment of Joint Development Agreements (JDA).
• Stamp Duty & Registration Charges
• Understanding state-wise variations and exemptions.
• RERA Compliance
• Financial disclosure requirements under RERA (Real Estate Regulation & Development Act, 2016).
• Maintenance of separate bank accounts for project funds as per RERA guidelines.
• Municipal & Local Tax Compliance.
• Property tax, land-use conversion charges, and other local levies.

Project Finance & Fund Management:

• Bank Loans & Project Financing
• Knowledge of construction finance, term loans, overdraft (OD), and cash credit (CC) limits.
• Loan structuring, including interest rate negotiation and repayment schedules.
• Alternative Funding Avenues.
• Understanding of private equity, joint ventures (JV), and foreign direct investment (FDI) norms in real estate.
• Investor & Lender Relations.
• Financial reporting to lenders and investors.
• Ensuring timely repayments and compliance with loan covenants.

Budgeting, Cost Control & MIS Reporting

• Project Costing & Estimation.
• Budgeting land acquisition costs, construction costs, and overheads.
• Cost control strategies to optimize project profitability.
• Variance Analysis & Cost-Benefit Analysis.
• Monitoring deviations from the approved budget and identifying cost-saving opportunities.
• Management Information System (MIS) Reports.
• Preparation of monthly financial reports, sales reports, and project cost reports for management review.
• Cash flow projections and fund requirement analysis.
• Understanding of Real Estate financial aspects of legal disputes in NCLT, RERA, or consumer forums

Sales & Customer Finance Management

• Tracking collections from buyers & agents.
• Handling home loan coordination with banks.
• Ensuring smooth agreement execution, payment schedules, and credit control.

Risk Management & Internal Controls

• Implementing internal controls for fraud prevention & financial accuracy.
• Identifying financial risks in land deals, construction costs, and market

Interested Candidate can share there resume on hr@sayagroup.co.in

Job Types: Full-time, Permanent

Pay: ₹50,000.00 - ₹65,000.00 per month

Work Location: In person