How to Obtain a RERA License for Real Estate Agents in India: A Complete Guide
Table of Contents
An overview of agents’ RERA License and registration
This blog elaborates on how to get a Real estate license in India. Only an agent possessing a RERA Registration for Agent can handle a real estate plan that needs to be registered under the RERA Act.
To do the following tasks, the RERA registration process is necessary:
- Promote, market, promote, offer for sale, or invite individuals to invest in any building, apartment, or land.
- Additionally, the authority to enact rules and regulations about real estate agent registration under the RERA has been granted to the State Governments.
- Therefore, the only person who can deal with properties with RERA registration is an agent who has registered with the RERA.
RERA Registration Process and its Benefits
Openness in Real Estate Projects
Ensuring complete openness in real estate projects was the primary goal of the RERA Act’s introduction.
Complete disclosure of project information
Developers registered with the RERA must provide buyers with all relevant information, including the project plan, layout, and government clearances.
Quick handling of complaints
RERA handles complaints or concerns about any developer, builder, or real estate agent.
Extensive coverage
All residential and commercial projects are covered by RERA registration. Additionally, builders and agents must register separately under the RERA.
Credibility of the Builder
Undoubtedly, the builder’s reliability is guaranteed by the RERA registration. In general, purchasers favor doing business with builders who are registered with the RERA.
The Builder’s complete information
Real estate investors and consumers can obtain comprehensive information about builders and developers through RERA registration.
Real estate agents’ roles and RERA License registration requirements
A “real estate agent” is a person who represents and helps other people in real estate transactions in exchange for payment for their services.
Brokers, intermediaries, and property dealers are examples of real estate agents. Their main responsibilities include setting up meetings and negotiating contracts to purchase or lease buildings, property, flats, and plots.
All agents in India are required by the Real Estate Regulatory Authority (RERA) Act to obtain an RERA registration.
RERA Registration Process and Eligibility
The following criteria apply to RERA registration eligibility:
- Registration under the RERA is required for promoters, projects, and real estate brokers.
- RERA applies to planned, commercial, and residential developments.
- A builder must register with RERA if they plan to create a business or residential property on more than 500 square meters of land or if there are more than eight proposed apartments.
- It is mandatory for agents who deal in real estate to acquire the RERA registration certificate.
- RERA registration is necessary for real estate developments, including all phases, when the total development area surpasses 500 square meters or the number of flats reaches eight.
- Real estate brokers selling or transferring plots, apartments, or buildings in RERA-registered developments must be registered members of the RERA.
- RERA registration is required for anybody or any organization that books, sells, advertises, markets, and invites people to buy plots, apartments, or buildings regulated by the RERA Act or any combination of these activities.
- The certificate of RERA registration is still valid across the entire state.
- RERA applies to any party that is a part of the transaction.
What Benefits Do Agents Stand to Gain by Registering with RERA?
Maintains Openness
Agents must obtain an RERA Registration to be completely open to real estate developments.
The Credibility of the Builder
The agent provides reassurance regarding the builder’s credibility through RERA registration. Buyers typically want to work with builders who are registered with the RERA.
Complete Transparency Regarding Project Specifics
Agents registered under RERA have a thorough knowledge of all the information that aids in the client’s decision-making, such as the project plan, layout, and government clearances.
Observes the Grievances
The RERA-registered agent handles any complaints or grievances from investors and clients.
All of the Builder’s Information
Real estate investors and consumers can obtain comprehensive information about builders and developers through RERA registration.
How do you get a real estate license in India?
This blog elaborates on how to get a Real estate license in India. All real estate agents are required to apply for registration with the state’s Real Estate Regulatory Authority.
An application must be filed with the necessary paperwork and fees as specified by law. After reviewing the application, the authorities will grant a registration for the requested state.
If the authority has a good enough basis to deny the application, he may even do so. However, there will be a chance to be heard before such a rejection.
If you’re navigating this or any other legal intricacies, Lawgical Adda is here to help! Our expert team is ready to guide you through every step of business registration and compliance, whether you’re launching a new venture or managing an established one.
Don’t let legal hurdles slow you down reach out to Lawgical Adda today and get the answers you need with ease and confidence!
