Property Dealer Registration in Jaipur, Rajasthan

Under the Regulation and Development Act of 2016, the Government of Rajasthan has introduced regulations to promote and regulate the real estate and housing sector in government. Through this program, Rajasthan RERA will promote the expansion and development of a healthy, transparent, effective, and competitive real estate market. The article highlights the property dealer registration in Jaipur, Rajasthan.

Who is a real estate agent?

“Real estate agent” means any person, negotiating or acting on behalf of an individual in the transfer of his or her property, apartment, or building, as the case may be, in a housing project, for sale, and another person. a person or transfer of property, apartment or building, as the case may be, of any other person to him or her and receives payment or fees or any other charges for his or her work or commission or otherwise and includes a person who submits, in any way, potential buyers and sellers to each other, negotiate the sale or purchase of a site, apartment or building, as the case may be, and includes real estate agents, dealers, traders in any name.

Objectives of RERA Registration (Property Dealer Registration in Jaipur, Rajasthan)

Relevancy of RERA Registration

Getting license

These days the state government makes it compulsory to have a real estate agent’s license to run this type of business. The Deputy Commissioner of the district usually issues this license. For the application see the nearest sub-register office / municipal organization.

Information and documents required to apply for registration as a real estate agent in Rajasthan

• Brief details of his business including his name, registered address, type of business (ownership, community, partnership, company, etc.);
• Registration details (whether ownership, community, partnership, company, etc.) including bye rules, organizational memorandum, organization documents, etc. as it may be;
• Photo of real estate agent if one person and photo of partners, directors, etc. in the case of other organizations;
• Certified copy of PAN card;
• Certified copy of proof of business place address.

Validity of real estate agent’s registration certificate:

The provided registration will be valid for five years.

Real Estate Registration Fee:

Ten thousand rupees if the applicant is one person or fifty thousand rupees if the applicant is not an individual.

Real estate agents who sell and buy real estate can obtain RERA registration which will remain valid throughout the state.

Penalty

• The agent will be liable for a fine of Rs. 10,000/- per day in the event of default and can be extended up to 5% of the cost of a building, apartment, or building under sections 9 and 10 of the RERA Act, 2016.
• If the agent commits wrong trading practices, he or she will be liable to imprisonment for 1 year.
• Section 66 deals with violations of the orders of the Appellate Tribunal, stating that one-year imprisonment or a fine of up to 10% of the unit costs sold.
• Violations of the order of the RERA Officials are dealt with in section 65.
• In the event of a breach of registration terms or registration conditions found to be fraudulent or distorted, the RERA registration of agents will be cancelled under section 9(7).

Final words

To regulate and promote real estate development in the state, the Rajasthan government has introduced its own rules under the Regulation and Development Act, 2016. The Rajasthan Real Estate Regulatory Authority is not only helping to create a transparent and functional environment but the market also allows real estate agents and investors to hold stakeholders accountable for their investments. The blog has made in light all you need to know about the property dealer registration in Jaipur, Rajasthan.