All you need to know about agent registration in Kerala

All you need to know about agent registration in Kerala
  • General
  • Thursday 2nd January 2020
  • Author: Riya Kapoor

Highlights

  • All Real Estate Agents shall have to register with Kerala RERA before facilitating any sale.

  • In case of individual Real Estate agents of Kerala shall pay Rs. 25,000 as a registration fee and in case of other than the individual they shall pay Rs. 2,50,000.

  • In the case of Kerala, once an agent gets the certificate number, it will be valid for 5 years.

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. Owing to the new guidelines, every state is liable to establish Regulatory Authority (RERA) which will supervise all the activity of the Real Estate sector. To comply with these rules, the Kerala Real Estate (Regulation and Development) rules were notified on 18 June 2018. All Real Estate Agents shall have to register with Kerala RERA before facilitating any sale. Promoters while applying for registration to Kerala RERA will have to provide the names of registered Real Estate agents who would be facilitating the sale of apartments in the said project.

Registration fees for Agents:

In case of individual Real Estate agents of Kerala shall pay Rs. 25,000 as a registration fee and in case of other than the individual they shall pay Rs. 2,50,000.

Registration number validation:

In the case of Kerala, once an agent gets the certificate number, it will be valid for 5 years.

Registration Renewal:

An application that is made by the real estate agent in Form-J shall not be less than 3 months prior to the expiry of the registration granted.

Documents required for RERA registration of Agent:

1. Passport size photograph of agents/directors/partners.

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

3. PAN card of the 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.

6. Income tax returns filed under the provisions of the Income Tax Act, 1961 for three financial years preceding the application or in case the applicant was exempted from filing returns.

7. In the case of Partnership firm, partnership deed is mandatory to attach to the above-mentioned documents.

Jurisdiction:

RERA registration number will be valid for the entire Kerala state.

Obligations of an agent:

In the case of the real estate agent, he shall provide assistance to enable the allottee and promoter to exercise their respective rights and fulfill their respective obligations at the time of booking and sale of any plot, apartment or building. He shall also maintain and preserve books of account, records, and documents in accordance with the provisions of the Income Tax Act, 1961.

Have Questions on RERA ? Have free discussion on email.