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All Real estate agents are required to do RERA Registration. They should do it with the concerned state-level regulatory authorities. In this article we shall focus on the RERA Registration for Real estate agents.
Such agents work as intermediary to facilitate the transaction and stimulate fair practices among buyers and builders. They have an important role to play that includes keeping all records and documents of promoters and they are required to present the records and documents as and when required by the buyer.
As stated earlier all RERA agents should register with concerned state-level regulatory authorities compulsorily. Once they are registered, the agents would be provided registration number that is valid for 5 years.
We have discussed the process of RERA registration for agents in Delhi. Every real estate agent in Delhi, require to be registered shall make an application in writing in Form ‘G.’ The following documents shall also be submitted along with the application, namely:
Registration fee at the time of application for registration shall be paid by the real estate agent by way of a demand draft or a banker’s cheque drawn on any scheduled bank or through online payment, as the case may be, for a sum of:
The Authority, may, within 30 days of receipt of application may accept the application or reject the application. If the application is accepted, then the Authority shall issue a registration certificate with a registration number in Form ‘H.’ In the case of rejection of the application, the Authority shall after recording the reasons in writing inform the applicant in Form ‘I.’
It may be noted that:
It may be noted that there are penalties as well under RERA Act[1] for RERA registration for real estate agent. In case of default, the agent may be liable for 10000 rupees per day and it can extend to 5% of the plot or building cost.
Read our article: Statutory Provisions of RERA: Registration Process, Documents, Offences, etc.
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