ALL YOU NEED TO KNOW ABOUT AGENT REGISTRATION IN MAHARASHTRA

Are you RERA registered real estate agent? Section 9 of the Act makes it compulsory for agents to register with RERA and also binds them from selling, purchasing, or dealing with only RERA registered properties. To bring absolute accountability and transparency in the realty sector, RERA Act brought brokers and agents also under the radar of regulatory authority. Since a broker or agent is the first person to be approached by a prospective buyer.??

All brokers will have to compulsorily register with the concerned state-level regulatory authorities. If any real estate fails to register, it will be liable for a penalty.?

Procedure to apply for registration of real estate agents

Every Real estate agent shall make an application in Form “G” for registration before engaging in any activity of marketing, selling, or purchase of any apartments.

Eligibility

Documents required for registration:

(a) Details of the enterprise including its name, registered address or the place of business, type of enterprise (proprietorship firm, societies, partnership, company, etc.); Registration numbers, PAN, Aadhar Card No, DIN.?

(b) particulars of registration obtained under other laws, and rules and regulations, as the case may be, along with the authenticated copy of partnership deeds, memorandum of association, articles of association, etc.;

(c) recent color photographs of the real estate agent, if an individual and of all the partners, directors, trustees, etc. including persons in service or assigned work expected on a real estate agent, in case of other entities;?

(d) income-tax returns for last three financial years preceding the application or in case the applicant was exempted from filing returns in any of the three years preceding the application, a declaration to such effect;?

(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?

(f) details (if any) of all real estate projects and their promoters on whose behalf he has acted as a real estate agent in preceding five years;

(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;

(h) authenticated copies of all letterheads; rubber stamp images, acknowledgment receipts proposed to be used by the real estate agent;

(i) such other information and documents, as may be specified by regulations.

Registration Fees

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.

Renewal of Registration

Registration of Real estate agents will be valid for 5 years. Initially, a registration number is given by the authority which can be renewed thereafter. The real estate agent who is registered under Section 9, can make an application under Form “J” for renewal of the registration within 60 days prior to the expiry of the registration.?