All you need to know about RERA in West Bengal for real estate agents

All you need to know about RERA in West Bengal for real estate agents
  • General
  • Tuesday 16th October 2018
  • Author: Riya Kapoor

Highlights

  • If any real estate agent fails to register, he shall be liable to a penalty of ten thousand rupees for every day

  • The real estate agents are required to pay registration fees at the time of application to the authority through NEFT or RTGS or any other digital transaction mode.

  • Real Estate (Regulation and Development) Act 2016 is a step towards reforming the real estate sector in India, encouraging more transparency, accountability, and professionalism.

  • Every Agent has to be listed by Promoter during the Project Registration / Status Updates without which agent can’t market the project

Under Real Estate (Regulation and Development) Act 2016, all Real Estate Agents shall have to register with RERA before facilitating any transaction. Every Agent has to be listed by Promoter during the Project Registration / Status Updates without which agent can’t market the project

If any real estate agent fails to register, he shall be liable to a penalty of ten thousand rupees for every day during which such default continues, which may cumulatively extend up to five per cent of the cost of plot, apartment or buildings, as the case may be, of the real estate project, for which the sale or purchase has been facilitated.

Now, Let's have a brief look at the process of RERA Registration for real estate agents in West Bengal.

Documents required for RERA Registration in West Bengal for real estate agents :

  1. Pan Card of real estate agent /partners/ Directors
  2. Aadhaar card of real estate agent /partners/ Directors
  3. Photograph of real estate agent /partners/ Directors
  4. Registration proof (Partnership Deed or COI in case of Company)
  5. Income tax returns for last 3 financial years preceding the application or in case the applicant was exempted from filing returns in any of the three year preceding the application, a declaration to such effect.
  6. Business Pan card (in case of partnership & company)

Government Fees for Registration of Real estate agents in West Bengal :

The real estate agents are required to pay registration fees at the time of application to the authority through NEFT or RTGS or any other digital transaction mode. The Registration Fees is as follows :

In case of Individual : Rs 25,000

In case of other than individual : Rs 2,50,000

Real Estate (Regulation and Development) Act 2016 is a step towards reforming the real estate sector in India, encouraging more transparency, accountability, and professionalism.

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