THE REAL ESTATE (REGULATION AND DEVELOPMENT) ACT,

Transcription

1 MAHA-RERA THE REAL ESTATE (REGULATION AND DEVELOPMENT) ACT, Procedure, Rules & Regulation for Registration of an Estate Agent Online Portal of RERA Registration 2 RERA Applicable for the Agents. 3 Application Format Form G 4 Accompanying Documents in case of Applicant is Individual, Proprietor/ Proprietorship Firm Agents who dealings with RERA Registered Projects Apartments/Flat, Commercial, Plotting. Address Proof of Business Place/ office PAN Card Aadhar Card Recent Photo graph of Proprietor. Photo graph of Employee, Associates (if any) ITR of Last Three years Address Proof of any Branches (if any) details (if any) of all real estate projects and their promoters on whose behalf he has acted as real estate agent in preceding five years details of all civil/ criminal cases pending against him or Associate/s. authenticated copies of all letter heads; rubber stamp images, acknowledgement receipts proposed to be used by the real estate agent Address, Contact No, Cell No & ID 5 Accompanying Documents in case of Applicant is Partnership Firm, Society, Pvt. Ltd./ Ltd. Company, LLP etc. Incorporation Certificate Registration No., TIN, DIN PAN of Firm, Company Copy of Deed of Article, Memorandum Photo graphs of All Partners, Directors, Members Photographs of Employee, Associates (if any) ITR of last Three Years Address Proof of any Branches (if any) details (if any) of all real estate projects and their promoters on whose behalf he has acted as real estate agent in preceding five years 6details of all civil/ criminal cases pending

2 against Company or any of Director, Partner, Trustee or Associate/s./ Employee authenticated copies of all letter heads; rubber stamp images, acknowledgement receipts proposed to be used by Company All Address, Contact No, Cell No & ID 6 Registration Fees 7 Mode of Payment Registration Fees 8 Book of Records 9 Registration Time Frame 10 Validity of Registration 11 Rejection of Registration Application 12 Renewal of Registration 13 Validity of Renewal 14 Obligations of registered real estate agents 1. Rs. 500/- (+ Taxes & Bank Charges if any) to be paid to Mahaonline for Maha-Rera website. And addition to that payable fees.. 2. Individual, Proprietor/ Proprietorship Firm : Rs. 10,000/- only. 3. Partnership Firm, Society, Pvt Ltd./ Ltd. Company, LLP etc. Rs.1,00,000/- only. NEFT, RTGS or any other Digital Transaction Mode. The real estate agent upon being engaged by the promoter under clause (f) of sub-section (2) of section 4 for a real estate project shall maintain and preserve books of accounts, records and documents separately for each such real estate project. Within time a time frame of within 30 Days RERA authorities shall deliver Registration No along with Certificate. (if Application is not being Rejected) On Completion of time frame of 30 Days (if you not received any objection, query, rejection) there are provision of deemed registration within 7 Days. Once granted Registration is valid for next five years. RERA Authority is bound to given an opportunity to being heard or to fulfillment of required papers before rejection any Application. A real estate agent to whom registration has been granted under section 9 may, make an application for renewal of his registration, at least sixty days prior to the expiry of the registration. The application shall be in Form 'J' and shall be accompanied with the same fees and fresh Documents as are applicable in case of new registration, under these rules. The renewal granted of registrations to a real estate agent under this rule shall also be valid for a period of five years from the date of its renewal. Every registered real estate agent shall prominently display number of his Registration Certificate at the principal place of business and at its branch offices.

3 Revocation of Registration of real estate agent Rustication of New Application in case of Membership Revoked by Authority. Maintenance and preservation and production of books of accounts, records and documents.- Other functions of a real estate agent. Prohibition for a Agent to involve himself in any unfair trade practices namely Every registered real estate agent shall quote his number of their registration all the documents relating to advertisement, marketing, selling or purchase issued by the real estate agent along with the number of registration certificate of the real estate project. Where any real estate agent who has been granted registration certificate number commits breach of any terms and conditions specified under these rules or regulations made there under, or where the Authority is satisfied that such registration has been secured by the real estate agent through misrepresentation or fraud, the Authority may, without prejudice to any other provisions under the Act, either suo-motu or on an application or complaint from the promoter or allottee or revoke the registration or suspend the same for such period as the Authority thinks fit and inform all the promoters: Provided that, no such revocation or suspension of registration shall be made by the Authority unless an opportunity of being heard has been given to the real estate agent. Provided that, on the revocation of the registration by the Authority of any real estate agent; fresh application for grant of registration cannot be made again within a period of six months by such real estate agent. Every registered real estate agent shall maintain and preserve such books of accounts, records and documents as he may be required in accordance with the provisions of the Income Tax Act, 1961 or the Companies Act, 2013 or under any other law applicable for the time being in force or rules and regulations framed there under and will be required to produce them for inspection if so needed for grant or renewal of the registration The real estate agent shall provide assistance to enable the allottee and promoter of each real estate project, to exercise their respective rights and fulfill their respective obligations at the time of marketing and selling, purchase and sale of any plot, apartment or building, as the case may be (i) making any statement, whether orally or in writing or by visible representation which falsely or knowingly represents that services or amenities are of a particular

4 20 Penalty for unregistered agents who involved in a RERA Registered project dealing, advertising, Marketing etc. standard or grade; represents that the Promoter or himself has approval or affiliation which such promoter or himself does not have; makes a false or misleading representation concerning the services which the promoter does not have; (ii) permitting the publication of any advertisement whether in any newspaper or other media, of services that are not intended to be offered by the promoter; (iii) facilitate the possession of all the information and documents, as the allottee, is entitled to, at the time of booking of any plot, apartment or building or as the case may be; (iv) discharge such other functions as prescribed by the regulations of the Authority. Rs. 10,000/- per day during the period of failure and its Maximum up to 5% of the value of deal/ project value. MAHA- RERA FEQUE: 1. Referral bookings: Existing customers referring to others for buying the flat in same project or other project of same developer: will they be treated as Real Estate Agent? Ans: Yes, if it is against a consideration. Real Estate Agent is clearly defined in section 2(zm) of the Act 2. For Foreign brokers registration and advertisement outside India, will same rule apply as in India? Ans: Yes, if it pertains to a registered project under Maha-Rera. 3. Will marketing and sales staff of Builder/ Promoter/ Developer also need to take registration as an agent? Ans: A real estate agent is clearly defined in Section 2(zm) of the Act. 4. Will the registration of Maha-Rera be operated in other states? Ans: No. The registration is valid only for Maharashtra region. 5. Is this registration transferable to another agent or to other state where agents intend to shift his office? Ans: No 6. Even if real estate agent has not taken any commission from client and taken it from promoter, can the agent still be responsible and liable for builder s default? Ans: The agent's liability is in accordance with Section 10 of the Act. He is not held liable for the promoter's default.

5 7. If real estate agent is not listed with promoter's registration at Maha-Rera website, still can he sell in this project? Ans: No. If the promoter has not included the real estate agent's name at the time of registration, it will have to be included by the promoter, subsequently, and up dated in the Maha-Rera website. The real estate agent can operate in the project only thereafter. 8. Will Maha-Rera protect Agents for their commissions not paid by builder or by parties to the deal? Ans: No, these will be guided by the agreements that real estate agents have with the concerned promoters or allottee. 9. What if promoter gives false information or documents to real estate agent and agent acts upon such information, will he be liable? Ans: Under Section 12 of the Act, it is the obligation of the promoter regarding veracity of advertisement and prospectus. The agent is liable if he makes a false or misleading representation concerning the services that he intends to offer. 10. Will listing websites / newspapers/ exhibitions promoting real estate needs to take agents license? Ans: Yes, if they intend to facilitate the sale or purchase of or act on behalf of any person to facilitate the sale or purchase of any plot, apartment or building, as the case may be, in a registered real estate project being sold by the promoter in any planning area. 11. Does an entity "Other than an Individual", who has applied and paid registration fees, need to apply separately for its staff? Ans: No, as long as the staff operate under the aegis of the said entity.

6 FORM G [See rule 11(2)] APPLICATION FOR REGISTRATION OF REAL ESTATE AGENT To The Real Estate Regulatory Authority Sir, I/We apply for the grant of registration as a real estate agent to facilitate the sale or purchase of any plot, apartment or building, as the case may be, in real estate projects registered in the Union territory in terms and the rules and regulations made there under, 1. (in the case of an individual) Mr./Ms. son of Mr./Ms. Taluka District State ; OR (in the case of a firm / society / company) firm / society / company having its registered office / principal place of business at. 2. The requisite particulars are as under:- (i) Status of the applicant, whether individual / company / proprietorship firm / societies / partnership firm / limited liability partnership; (ii) In case of individual (a) Name (b) Father s Name (c) Occupation (d) Permanent address (e) Photograph In case of firm / societies / companies - (a) Name (b) Address (c) Copy of registration certificate (d) Major activities OR

7 (e) Name, photograph and address of partners / directors etc. (iii) Particulars of registration including the bye-laws, memorandum of association, articles of association etc. as the case may be; (iv) Authenticated copy of the address proof of the place of business; (v) Details of registration in any other State or Union territory; (vi) Any other information the applicant may like to furnish. 3. I/we enclose the following documents along with, namely:- (i) Demand Draft No. dated for a sum of Rs., in favour of, drawn on bank as registration fee as per sub-rule (3) of rule 11; (ii) Authenticated copy of the PAN card of the real estate agent; and (iii) Authenticated copy of the registration as a real estate agent in any other State or Union territory, if applicable; 4. I/we solemnly affirm and declare that the particulars given in herein are correct to my /our knowledge and belief. Dated: Place: Yours faithfully, Signature and seal of the applicant(s) Collection by Ravi Sharma President, REAP