Insights about GOA RERA for Real Estate Agents

Insights about GOA RERA for Real Estate Agents
  • General
  • Monday 5th March 2018
  • Author: Riya Kapoor

Highlights

  • Goa RERA notified RERA rules on 24thNovember 2017.

  • No real estate agent shall facilitate the sale or purchase of or act on behalf of any person to facilitate the sale or purchase of any plot, apartment or building.

  • Under this Act, State Government is required to establish Real Estate Regulatory Authority for regulation and promotion of the real estate sector in the State.

  • The real estate agent shall pay a registration fee at the time of application for registration through online mode at the time of online registration.

The government of India has enacted the Real Estate (Regulation and Development) Act 2016 and all the provisions of the Act have come into force with effect from May 1, 2017. Under this Act, State Government is required to establish Real Estate Regulatory Authority for regulation and promotion of the real estate sector in the State. Goa RERA notified RERA rules on 24thNovember 2017.

All Real Estate Agents should register under this Act. No real estate agent shall facilitate the sale or purchase of or act on behalf of any person to facilitate the sale or purchase of any plot, apartment or building, as the case may be, in a real estate project or part of it, without obtaining registration under this section.

Registration Fees of RERA in Goa for real estate agents

The real estate agent shall pay a registration fee at the time of application for registration through online mode at the time of online registration, for a sum of Rs.10,000/- in the case of the applicant being an individual or Rs.1,00,000/- in the case of the applicant being anyone other than an individual.

Validity of Registration number: Real estate agents will get a certificate number which will be valid for five years. Every registered real estate agent shall quote his number of registration on all the documents relating to the advertisement, marketing, selling or purchase issued by the real estate agent along with the number of registration certificate of the real estate project.

Renewal of Registration: RERA certificate for agents can be renewed after 5 years.

Documents required for RERA Registration:

1) Passport size photograph of agents/ directors /partners

2) Copy of Aadhar card of agents /directors/partners 

3) PAN card of real estate agent in case of individual or PAN card of Firm

4) Authenticated copy of the address proof of the place of business

5) Particulars of the Registration including the bye-laws, memorandum of association, articles of association etc

Jurisdiction: This Registration number will be valid for the entire state of Goa.

The real estate agent shall maintain and preserve his books of accounts, records, and documents in accordance with the provisions of the Income Tax Act, 1961. Every registered real estate agent shall prominently display the number of his Registration Certificate at his principal place of business and at its branch offices

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