![]() ![]() Name, type of enterprise (for example, company, societies, proprietorship, partnership, etc.), and registered address of the enterprise.Copy of address proof, email id, and phone number of the area from where the agent will operate the business.Name, contact information, photographs, and address of the real estate agent and the directors or partners.RERA Registration: Documents requiredĪ real estate broker or agent must submit the following documents when applying for RERA registration: Moreover, one year of imprisonment is applicable in case of indulgence in any unfair trade practice. There will be a penalty of up to 5% in case of non-compliance with the RERA orders. In case of non-registration under RERA, the real estate agent will not be allowed to engage in the sale of properties or any real estate business. Also, the penalty price may be increased up to 5% of the price of the property being sold. If one operates the business without RERA registration, a penalty of Rs 10,000 per day is levied in case of any defaults. Without RERA registration, a real estate agent will not be allowed to operate. What are the disadvantages of non-registration as per RERA? Facilitating the possession of various documents and information to which a homebuyer is entitled when booking a home, land, or building. ![]() Not involve in unfair commercial practices such as making a false and misleading statements, orally or in writing, or supporting advertisement of services that may be unlikely to be delivered.Adhere to the various provisions of the act.Not facilitating the buying or selling of unregistered properties.Real estate agents are required to comply with the various guidelines such as: It ensures fair transactions between property sellers and the buyers through licensed and responsible agents. RERA Act aims to make property purchase easier for the home buyers and regulate real estate transactions that were earlier heavily in favour of the builders. Real estate agent must get registered under RERA. RERA Guidelines on Registration of Real Estate Agentsįurther, the Real Estate (Regulation and Development Act), 2016 (RERA) was introduced with the objective of regulating the real estate sector in India and make it more organised and ensuring transparency. The requirements pertaining to licensing and registration in India may vary from state to state. It is must to get the registration certificate renewed annually.Īs per the Real Estate (Regulation and Development) Act 2016, all real estate agents must get registration with the state-level Real Estate Regulatory Authority and obtain the RERA registration number/ license. ![]() The state tax department issues a PTR to the agent by levying a fee that varies from state to state. Professional tax is the tax levied on all types of trades and professions in India. This includes registering your company, obtaining real estate agent license, getting Professional Tax Registration (PTR), GST registration, etc. Know about all the criteria that needs to be met before starting a career in the real estate broker business. Get the necessary licenses and registration You can speak to seasoned professionals in the industry and get valuable knowledge. It is essential that you gain adequate knowledge of the profession before starting a career as a real estate broker. Here’s how to start real estate broker business in India. ![]()
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