All you need to know about RERA in Rajasthan

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. 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.

RERA in Rajasthan has started their operation from day first i.e, 01 June 2017.After a long time of almost 1.5 months, only 18 real estate agents are registered in Rajasthan.

Registration Fees of RERA in Rajasthan for real estate agents

A 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.50,000/- in the case of the applicant being anyone other than an individual. 

The validity of Registration number: Real estate agents will get a certificate number which will be valid for five years.

Renewal of Registration: RERA certificate for agents can be renewed after 5 years. The application fees for renewal is Rs 5,000 in the case of an individual and Rs 25,000 in the case of other than the individual. Renewal granted by RERA will be valid for 5 years. 

Documents required for RERA Registration in Rajasthan

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: RERA Registration number will be valid for the entire state of Rajasthan. 

Penalties in RERA: In the case of non-registration, real estate agent will be liable to a penalty of ten thousand rupees for every day for during which default continues, which may extend up to 5 % of total cost of plot, a parent or buildings for which transaction has been done.

Download RERA Rajasthan rules: Click here