WHO IS REAL ESTATE AGENT?
A real estate agent is a person who works as an intermediary to facilitate the transaction and to stimulate fair practices between buyers and the builders.
WHAT ARE ROLES OF REAL ESTATE AGENTS?
1. The agents must have all the records and documents of the promoters as well as their projects.
2. The agents must present all the records and documents to the buyer as and when required.
3. The agents must not misguide or advertise the general public with false facts of the projects.
4. The agent should with responsibility fairly handle the hard-earned money of common man.
WHAT IS RERA AGENT REGISTRATION?
All the RERA agents need to compulsorily register themselves with the concerned state-level regulatory authorities. After registration, the agents will be given a registration number by the authority which will be valid for 5 years and will be renewed thereafter.
PROCEDURE OF REGISTRATION OF REAL ESTATE AGENT:
RERA REGISTRATION FOR AGENT IN HARYANA:
a) Every real estate agent shall make an application in form no REA-I to the authority along with documents hereunder mentioned:
1. RERA agent registration form which shall be duly filled
2. Particulars about the type of organization ( Pvt ltd, public ltd, LLP, partnership firm, proprietary firm with their registration number, bye rules, memorandum of association, article of association, etc
3. Authenticated copy of address proof of the place of business
4. Authenticated copy of pan card
5. Details of registration in any other state and union territory
b) The agent shall also pay the registration fees at the time of filing the application either by the way of demand draft or bankers cheque drawn on any scheduled bank or online payment to Haryana real estate regulatory authority calculated in schedule
c) the authority shall grant registration certificate to real estate agent within 30 days of receipt of such application form or reject the same.
d)the authority shall issue a registration certificate in RE-II to the agent
e) in case of rejection, the authority shall inform such particulars to an agent in form no RE-III
f) the registration granted shall be valid for 5 years
g) in case the real estate agent wants to renew the registration shall apply for such in form no RE IV with such sum mentioned in the schedule
PENALTIES UNDER RERA ACT:
1. The agent shall be liable for a penalty of Rs 10000 per day in case of default and can extend to 5% of the cost of plot or building
2. In case the agent is associated with any unfair trade practices, he shall be liable for punishment by way of 1-year imprisonment
RERA REGISTRATION FOR AGENT IN DELHI:
a) Every real estate agent shall make an application in writing in form no G to the authority until the application procedure is made web-based along with documents hereunder mentioned such as
1. RERA agent registration form which shall be duly filled
2. Particulars in case of individuals- name, permanent address and the photograph and in case of entities name, address and the type of organization ( Pvt ltd, public ltd, LLP, partnership firm, proprietary firm with their registration number, bye rules, memorandum of association, article of association, etc
3. Income tax returns of the last 3 years and such declaration
4. Authenticated copy of address proof of the place of business
5. Authenticated copy of pan card
6. Details of registration in any other state and union territory
b) The agent shall also pay the registration fees at the time of filing the application either by the way of demand draft or bankers cheque drawn on any scheduled bank or online payment to Haryana real estate regulatory authority, the sum of ten thousand rupees in case of individual and fifteen thousand rupees in case of entity
c) the authority shall grant registration certificate to real estate agent within 30 days of receipt of such application form or reject the same.
d)the authority shall issue a registration certificate in H to the agent
e) in case of rejection, the authority shall inform such particulars to an agent in form no I
f) the registration granted shall be valid for 5 years
g) in case the real estate agent wants to renew the registration shall apply for such in form no J accompanied with demand draft or bankers cheque drawn on any scheduled bank or through online payment of rs five thousand in case of an individual or rs twenty-five thousand in case of entities
PENALTIES UNDER RERA ACT:
1. The agent shall be liable for a penalty of Rs 10000 per day in case of default and can extend to 5% of the cost of plot or building
2. In case the agent is associated with any unfair trade practices, he shall be liable for punishment by way of 1-year imprisonment
RERA REGISTRATION FOR AGENT IN RAJASTHAN:
a) Every real estate agent shall make an application in form no H to the authority along with documents hereunder mentioned such as
1. RERA agent registration form which shall be duly filled
2. Particulars about the registration including their registration number, bye rules, memorandum of association, article of association, etc
3. Authenticated copy of pan card
4. Details of registration in any other state and union territory
b) he shall also pay the registration fees at the time of filing the application either by the way of demand draft or bankers cheque drawn on any scheduled bank or online payment to Haryana real estate regulatory authority, the sum of ten thousand rupees in case of individual and fifteen thousand rupees in case of the entity.
c) the authority shall grant registration certificate to real estate agent within 30 days of receipt of such application form or reject the same.
d)the authority shall issue a registration certificate in form no I to the agent
e) in case of rejection, the authority shall inform such particulars to an agent in form no J
f) the registration granted shall be valid for 5 years
g) in case the real estate agent wants to renew the registration shall apply for such in form no K accompanied with demand draft or bankers cheque drawn on any scheduled bank or through online payment of rs five thousand in case of an individual or rs twenty-five thousand in case of entities
PENALTIES UNDER RERA ACT:
1. The agent shall be liable for a penalty of Rs 10000 per day in case of default and can extend to 5% of the cost of plot or building
2. In case the agent is associated with any unfair trade practices, he shall be liable for punishment by way of 1-year imprisonment
RERA REGISTRATION FOR AGENT IN UTTAR PRADESH:
a)Every real estate agent shall make an application in form no G to the authority along with documents hereunder mentioned such as
1. RERA agent registration form which shall be duly filled
2. Particulars such as name, contact details, address proof in case of individuals and name, address, contact details and photo in case of entities
3. Particulars about the registration including their registration number, bye rules, memorandum of association, article of association, etc in case of entities
4. Authenticated copy of pan card
5. Income tax returns of last 3 preceding year from the date of such application
6. Authenticated copy of address proof of place of business
b) he shall also pay the registration fees at the time of filing the application either by the way of demand draft or bankers cheque drawn on any scheduled bank or online payment to Haryana real estate regulatory authority, the sum of twenty-five thousand rupees in case of individual and two lakh fifty thousand rupees in case of the entity.
c) the authority shall grant registration certificate to real estate agent within 30 days of receipt of such application form or reject the same.
d)the authority shall issue a registration certificate in form no H to the agent
e) in case of rejection, the authority shall inform such particulars to an agent in form no I
f) the registration granted shall be valid for 5 years
g) in case the real estate agent wants to renew the registration shall apply for such in form no J accompanied with demand draft or bankers cheque drawn on any scheduled bank or through online payment of rs five thousand in case of an individual or rs fifty thousand in case of entities
PENALTIES UNDER RERA ACT:
1. The agent shall be liable for a penalty of Rs 10000 per day in case of default and can extend to 5% of the cost of plot or building
2. In case the agent is associated with any unfair trade practices, he shall be liable for punishment by way of 1-year imprisonment
RERA REGISTRATION FOR AGENT IN MAHARASHTRA:
a) Every real estate agent shall make an application in form no G to the authority along with documents hereunder mentioned such as
1. RERA agent registration form which shall be duly filled
2. Details of enterprise such as name, place of business, type, DIN and Aadhaar copy
3. Particulars about the registration including their registration number, bye rules, memorandum of association, article of association, etc
4. Recent color photograph
5. ITR for last 3 financial year preceding the application or in case the applicant is exempted from such, the declaration to that effect
6. Details of all real estate projects and their promoters on whose behalf he has acted as agent in preceding 5 financial years
7. Details of all civil and criminal cases pending against him in case of individual and all persons in case of entities
8. Authenticated of all letterheads, rubber stamp images proposed to be used by agents
9. Authenticated copy of pan card
10. Details of registration in any other state and union territory
b) he shall also pay the registration fees at the time of filing the application either by the way of NEFT or RTGS, a sum of ten thousand rupees in case of an individual or one lakh in case of the entity.
c) the authority shall grant registration certificate to real estate agent within 30 days of receipt of such application form or reject the same.
d)the authority shall issue a registration certificate in form no H to the agent
e) in case of rejection, the authority shall inform such particulars to an agent in form no I
f) the registration granted shall be valid for 5 years
g) in case the real estate agent wants to renew the registration shall apply for such in form no J accompanied with fees notified by new rules
PENALTIES UNDER RERA ACT:
1. The agent shall be liable for a penalty of Rs 10000 per day in case of default and can extend to 5% of the cost of plot or building
2. In case the agent is associated with any unfair trade practices, he shall be liable for punishment by way of 1-year imprisonment
Conclusion:
Real estate agents are the backbone of the real estate market. The government has wisely chosen the registration process to create a long run trust-building between the agent and the buyer.
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