The Real Estate (Regulation and Development) Act, 2016 (RERA) was enacted to protect homebuyers and ensure transparency in the Indian real estate market. If you want to become a registered real estate agent in Delhi under RERA, you must follow specific guidelines. These are laid out in the “National Capital Territory of Delhi Real Estate (Regulation and Development) (General) Rules, 2016,” which came into effect on November 24, 2016. Here’s a step-by-step guide on how to register as a real estate agent in Delhi under RERA.
1. Understanding the Role of RERA
As per Rule 8 of the Delhi RERA rules, all real estate agents in Delhi are required to register with the Delhi Real Estate Regulatory Authority (RERA) before facilitating the sale or purchase of any property. Without this registration, agents cannot legally participate in real estate transactions involving RERA-registered projects.
2. Application Process for Registration
To apply for registration under RERA in Delhi, the real estate agent must fill out Form G either online or in writing. The form needs to be submitted in triplicate (three copies) to the regulatory authority.
3. Documents Required for Registration
While registering as a RERA agent in Delhi, you need to submit several key documents:
- Enterprise Details: Information about your business, including the business name, registered address in Delhi, and the type of enterprise (whether it’s a proprietorship, partnership, society, or company).
- Registration Particulars: Depending on the type of enterprise, you’ll need to provide documents such as the Memorandum of Association, Articles of Association, or by-laws.
- Individual/Partner Details: Personal details such as your name, address, photograph, and contact details. If there are other partners or directors, their details are also required.
- PAN Card: A copy of your PAN card is required, as well as the PAN cards of any partners, if applicable.
- Business Address Proof: Proof of your business address located in Delhi NCR.
4. Fees for Registration
To register as a real estate agent in Delhi under RERA, you are required to pay a registration fee, which varies based on your business structure:
- Individual Agents: ₹10,000
- Non-Individual Entities (companies, firms, etc.): ₹50,000
The fee must be paid via demand draft, online payment, or banker’s cheque drawn on a scheduled bank.
5. Duration of Registration
Once the registration is granted, it remains valid for five years. During this period, the real estate agent can conduct transactions for RERA-registered properties. After the initial five-year period, agents must renew their registration by submitting Form J.
6. Duties and Responsibilities
After registration, real estate agents must adhere to the provisions of RERA, ensuring transparency and compliance in property transactions. Agents can be held liable for any misconduct or issues related to the properties they promote. Misrepresentation or fraudulent activities could lead to prosecution under RERA regulations.
Conclusion
Registering as a real estate agent in Delhi under RERA is essential for anyone involved in real estate transactions within the city. By following the proper procedure, submitting the required documents, and paying the applicable fee, you can ensure legal compliance and build trust with potential clients. This registration also helps foster transparency and accountability in the real estate sector, benefiting both agents and homebuyers.
