Real Estate Agent Registration (RERA)
The Real Estate (Regulation & Development) Act, 2016
The Real Estate (Regulation & Development) Rules, 2017
Visit RERA Website
https://maharerait.mahaonline.gov.in/
Create New Account
https://maharerait.mahaonline.gov.in/login/UserRegistration
Why Required RERA registration to Estate Agent/Broker in Maharashtra?
The Indian government has implemented the Real Estate (Regulation and Development) Act, 2016 (RERA) to effectively govern the real estate industry and safeguard the rights of homebuyers. This legislation makes it compulsory for all real estate agents/brokers to be registered and operate within the country.
In accordance with the Maharashtra Real Estate (Regulation and Development) Rules, 2017, all real estate agents/brokers operating in Maharashtra are required to acquire a RERA registration number. The registration procedure entails providing various details including personal information, educational qualifications, and work experience, among other necessary information.
The main goal of mandating RERA registration for real estate agents/brokers is to guarantee their operations are conducted transparently and ethically when dealing with homebuyers. The registration procedure aids in eliminating dishonest agents/brokers and creates a fair environment for all registered agents/brokers. Additionally, it ensures that homebuyers have access to dependable and trustworthy agents/brokers who can assist them in making well-informed decisions when buying or selling properties.
Hence, the registration of estate agents/brokers under RERA in Maharashtra is obligatory in order to enhance transparency, accountability, and professionalism within the real estate industry and protect the rights of home buyers.
Real estate agents will face penalties if they provide false information to buyers about a project. The penalty can reach up to Rs 10,000 per day and a maximum of 5% of the total project cost. Additionally, real estate agents are obligated to maintain accurate records of the projects they are involved in and are accountable for them.
What Documents Required For Real Estate Agent /Broker Registration under RERA in Maharashtra
The following documents are required for Real Estate Agent/Broker registration under RERA in Maharashtra:
PAN Card: The applicant must provide a copy of their PAN card.
Aadhaar Card: A copy of the applicant’s Aadhaar card is also required.
Address Proof: The applicant must provide a copy of their address proof, such as a utility bill, passport, or voter ID card.
Passport Size Photograph: A recent passport-size photograph of the applicant is required.
Educational Qualification Proof: The applicant must provide a copy of their educational qualification proof, such as a degree certificate or diploma.
Work Experience Certificate: A work experience certificate is required to prove that the applicant has worked in the real estate sector for at least two years.
Registration Fee: The registration fee must be paid through an online payment gateway.
Business Address Proof: A copy of the business address proof, such as a rental agreement or ownership document, is required.
Registration Certificate of the Business Entity: If the applicant is running a business entity, they must provide a copy of the registration certificate.
Memorandum of Association (MOA) and Articles of Association (AOA): If the applicant is running a business entity, they must provide a copy of the MOA and AOA.
It is crucial to acknowledge that the specific set of documents needed may differ based on the state and registration authority. It is advisable to seek guidance from the relevant authority or a legal expert to obtain the most recent and precise list of documents required for registering as a Real Estate Agent/Broker under RERA in Maharashtra.
Real Estate Agent /Broker Registration Government fees under RERA in Maharashtra .
The Real Estate Agent/Broker registration fee under RERA in Maharashtra is as follows:
- RERA Registration fees for Individual Rs. 10600/- (Rs.10000/-+600/-)
- RERA Registration for other than Individual Rs. 100600/- (Rs.100000/-+600/-)
Timeline For RERA Registration
As per the act, the RERA certificate will be issued in 30 days by the RERA department. However, in some cases, it may come earlier or with some delay.
Real Estate Agent/Broker registration validity in Maharashtra under RERA
The registration validity for Real Estate Agents/Brokers in Maharashtra under RERA is set for a duration of five years. It is important to note that the registration can be renewed, and agents/brokers are required to apply for renewal at least 60 days prior to the expiration of their registration.
It should be emphasized that the registration under RERA is exclusive to the particular state in which it is acquired. Therefore, if the agent/broker operates in various states, they are required to obtain distinct registrations for each state in which they conduct their business activities.
If the registration is not renewed within the designated timeframe, it will be considered expired, and the agent/broker will need to seek a new registration. Hence, it is crucial for real estate agents/brokers to diligently monitor the validity of their registration and ensure timely renewal to prevent any penalties or legal entanglements.