RERA Agent Renewal in Maharashtra

RERA Agent Renewal in Maharashtra
  • General
  • Tuesday 5th July 2022
  • Author: Riddhi Singh

Highlights

  • RERA registration Fees for an individual is Rs.10,600/- and RERA registration for other than an individual is Rs.100,600/-. The RERA certificate is usually issued within 30 days by the RERA department.

The Real Estate (Regulation and Development) Act, 2016 is an Act of the Indian Parliament that aims to safeguard property buyers while also encouraging investment in the real estate industry. The bill was passed by the Rajya Sabha on March 10, 2016, and by the Lok Sabha on March 15, 2016. The Act went into effect on May 1, 2016, with 69 of the 92 sections notified.

Section 9 of the Act requires agents to register with RERA and restricts them to only selling, purchasing, or dealing with RERA-registered properties. To ensure complete accountability and transparency in the real estate sector, the RERA Act placed brokers and agents on the regulatory radar. Because the first person approached by a prospective buyer is a broker or agent.

RERA registration Fees for an individual is Rs.10,600/- and RERA registration for other than an individual is Rs.100,600/-. The RERA certificate is usually issued within 30 days by the RERA department.

All brokers will be required to register with the relevant state-level regulatory authorities. Any real estate that fails to register will face a penalty.

Whereas, the Maharashtra government has been pleased to issue the Maharashtra Real Estate (Regulation and Development) (Registration of real estate projects, Registration of real estate agents, rates of interest, and disclosures on website) Rules, 2017, as amended to date, herein after referred to as "the said Rules."

And, pursuant to sub rule (l) of Rule 11 of the said Rules, every real estate agent required to be registered pursuant to sub section (2) of section 9 of the Real Estate (Regulation and Development) Act, 2016 (“the Act”) shall make an application in writing,- in the case of registered real estate projects, forthwith and in any case prior to engaging in any activity relating to marketing, advertising, sale, or purchase of any apartments.

Moreover, sub-rule (2) of Rule 11 of the said Rules requires a real estate agent to submit an application for registration in Form 'G,' and list the documents that must be submitted with the application.

And whereas, clauses (e) & (g) of sub-rule (2) of Rule 11 of the said Rules states as follows :

 "(e) authenticated copy of the proof of address of the principal place of business, number of branch offices if any along with contact details including Telephone Numbers, Fax Numbers and email address; and"

"(g) details of all civil or criminal cases pending against him if an individual or any of the partners, directors, trustees etc. in case of other entities;"

And, pursuant to Rule 13 of the said Rules, a real estate agent who has been granted registration under Section 9 of the Act may apply for renewal of his registration in Form 'J' at least 60 days before the expiry of his registration.

Furthermore, sub-rule (2) of Rule 13 of the said Rules requires that the real estate agent submit all of the updated documents outlined in clauses (a) to (i) of sub-rule (2) of Rule 11 of the said Rules when applying for renewal.

Moreover, under Section 25 of the Act, the Chairperson of MahaRERA is given the powers of the general superintendent and directions in the conduct of MahaRERA's affairs.

Furthermore, it has been observed that many times, real estate agents do not provide the particulars and required documents as stated in clauses (e) and (g) of sub-rule (2) of Rule 11 of the said Rules when applying for registration or renewing their registration.

And, in order to remove any doubt and provide clarity on the aspects of the above-mentioned clauses of sub-rule (2) of Rule 11 of the said Rules, it is made clear that the particulars and documents required to be submitted, as set out in clauses (a) to I of sub-rule (2) of Rule 11 of the said Rules, are mandatory in nature, both when a real estate agent seeks registration and when it is renewed.

As a result, for the purposes of clauses (e) and (g) of sub-rule (2) of Rule 11 of the said Rules, real estate agents shall submit the following details both at the time of registration and when seeking renewal of the registration, as applicable.

For the above referred clause (e) both in Form 'G' and Form ‘J’

In addition to the information requested in clause (e) of sub rule (2) of Rule 11 of the said Rules, the applicant must provide an authenticated copy of one of the following documents to establish proof of address of his/her principal place of business.

(a) Electricity Bill

(b)Telephone Bill

(c) Agreement

(d) Lease Deed

(e) Tenancy Agreement

(f) Leave & Licence Agreement.

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