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Know More About RERA REGISTRATION FOR AGENTS
Introduction and Its Compliance
The Real Estate (Regulation and Development) Act, 2016 has made it mandatory for real estate agents to register under RERA before engaging in the sale or purchase of a property in any project, which is registered under the Act. This law brings responsibility, transparency and fair practices in the real estate business. Lawfinity provides the quickest assistance to Agents for Completion of their RERA Registration in compliance with your State's Real Estate Regulatory Authority.
Why It Is Needed
The agents are required to have RERA Registration to practice legally in real estate market for all registered projects. It makes a company more credible, gives clients the confidence to know they are dealing with someone honest and responsible and saves the business from possible legal complications of being non-registered. Lawfinity ensures agents have been appropriately registered as per the local RERA regulations.
Benefits and Advantages
- Legal Compliance RERA Registration enables agents to operate legally under the real estate laws, avoiding penalties and suspension from transactions in registered projects.
- Enhanced Credibility It instills trust among homebuyers and builders, boosting the agent’s reputation and business growth opportunities.
- Access to More Projects Registered agents are eligible to deal in RERA-approved projects, widening their portfolio and client base.
- Transparency in Dealings It promotes ethical conduct, discourages fraudulent transactions and protects consumer interests.
- Dispute Resolution Agents registered under RERA are better protected in case of legal disputes, as their activities are documented and monitored.
Eligibility Criteria
- Must be an individual or company/partnership involved in real estate brokering.
- Should not have been convicted of any fraud or unethical practice in the past.
- Must possess a PAN card, address proof and necessary business details.
Documents Required
For Individuals:
- Email id
- Mobile number
- PAN Card
- Aadhaar Card
- Photograph
- Address Proof
- RERA Declaration (as per State norms)
For Companies/Firms:
- Certificate of incorporation or Business registration document
- PAN of the company/firm
- Address Proof
- List of Directors/Partners
- Board Resolution/Authorization Letter
- Details of Past Projects (if any)
Steps for Applying
- Document Preparation: Gather and verify all required documents.
- Application Filing: Submit the RERA application form on the relevant state’s RERA portal.
- Fee Payment: Pay the prescribed government fee for registration.
- Verification: Authorities review submitted documents and details.
- Certificate Issuance: On approval, a RERA registration certificate is issued with a unique registration number.
Penalties
- Unregistered Operation Operating without RERA registration can attract a daily fine up to ₹10,000 or 5% of the cost of the deal, whichever is higher.
- Continued Non-Compliance Continuous non-compliance may lead to debarment and further legal action.
Timelines
Overall Processing Time
The RERA registration process typically takes 20 to 30 working days, subject to the accuracy of the application and document verification by the state authority.
Our services include guidance, documentation support, and application facilitation. It is important to note that we are not a government department, not a government-run website, and not affiliated with any government authority in any capacity. The role of lawfinity.in is purely that of a professional consultant.
Fee
Frequently Asked Questions
Because every great business starts with the right answers.
Yes, it is compulsory for agents dealing in registered projects under RERA.
It is usually valid for 5 years, subject to renewal before expiry.
No. Engaging in real estate transactions without registration is illegal and penalized.
Yes, but the agent must apply separately in each state where they wish to operate.
Yes, if they facilitate buying/selling in registered projects.
Yes, the registration fee varies for individuals and firms as per state rules.
Yes, you need to renew your registration before its expiry.
Yes, Lawfinity provides pan-India assistance for RERA agent registration.
Your application may be rejected or delayed; accuracy is crucial during submission.
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