RERA refers to Real Estate Regulations Act. This act applies to every real estate agent in India. A real Estate agent refers to a person who, on behalf of another, deals with real estate transactions and is benefitted from the fees for those services. The real estate agents provide services that include but are not limited to the following:
1. Sale of Plot, Flat, Building, or Apartment
2. Sealing of Plot, Flat, Building, or Apartment
The RERA registration is required for any agent who wants to deal with any project whose area exceeds 500 meters or has more than 8 apartments. To that end, if you want to be more than a small-time real estate agent, you need to get this Registration and pave the way for your expansion.
Getting this license isn't an easy prospect. However, with Registrationwala, you can avail of the registration services for this license in any state. Get in touch with our experts to know more.
The benefits of RERA registration are as follows:
RERA registration through an escrow account for future construction projects prevents insolvency.
With RERA registration, the promoters, as well as brokers, can be authenticated. To that end, this Registration can attract a lot of property buyers.
Property buyers always gravitate towards individuals who have covered all of their bases.To that end, the RERA registration assists the real estate to appear professional to the customers.
With RERA registration, real estate agents can be a lot more flexible when it comes to the date of delivery of the project.
Through RERA registration, brokers and promoters can complain to the authority regarding any matter.
The minimum validity of RERA registration is for one year. However, it can be more pertaining to the fees paid. Once the period of over, the RERA license can also be renewed. However, any breach of conduct also causes the government to revoke the license.
The RERA registration certificate is granted for an entire state or a union territory. The time that it takes to get this certificate is about 15 days. This time taken is applicable for most of the states in India.
There are penalties associated with non Registration of this license. This can either be NR 10000 for each day of default to 5% of the cost of the plot.
The real estate agent must not falsely represent the service provided. Furthermore, it is a crime to state the approval or affiliations the agent does not have.
The following are the eligibility criteria for RERA Registration:
The residential or commercial property you want to build should be more than 500 square meters.
The number of proposed apartments in the case of residential property should be at least 8.
There are two types of RERA registration, and the respective documents required for each of them are as follows:
The documents that are required for the real estate agents are as follows:
Registrationwala can assist you with the registration by providing you the following services:
Therefore, get in touch with us if you want the RERA Registration in minimum time and at minimum RERA Registration fees.
Q. Are broker and agent registration in RERA permissible?
A. Yes, the RERA property registration for agents is permissible.
Q. How much time it takes for RERA registration?
A. For RERA services such as real estate agent registration, it takes seven to ten days to get the certificate.
Q. How to become RERA certified agent?
A. To become a real estate agent in Siliguri or other cities, you need to follow the procedure mentioned in the process section of this web page.
Q. What is the RERA number format?
A. Every Broker registered under RERA registration is issued a RERA number with a specific format unique for every certificate holder. To know the format in detail, connect with the RERA experts at Registrationwala