Real Estate agents can not facilitate sale or purchase or deal in any Real Estate Project without obtaining registration from Authority of the respective state.
The Registration No has to be quoted on every sale facilitated by Agent.
Every Promoter of the Real Estate Project has to quote the details of the Real Estate Agent(s) associated with a said Project.
Real Estate Agent can not sell any project which is not registered with Authority
Facilitate the sale or purchase including all such information and documents to the allottee.
Shall not indulge in Unfair practices.
Obligated to give complete gamut of defined services to the Buyers / Allottee.
The Real Estate Regulatory Authority of the specific state would be Administrative Body and Real Estate Appellate Tribunal shall be the Appellate Authority.
The Authority is authorized to look into complaints or take up suo motto the compliances under the Act of the Real Estate Project or for any unfair practices indulged into by the Promoter in respect of the Project etc.
Conduct inquiry investigation in relation to the affairs of Promoter/ and impose penalties and interest.
All grievances and disputes to be addressed first by the Authority (60 days) then by the Real Estate Appellate Tribunal (REAT) and post that the petitioners can approach High Court(s) within 60 days.
Stringent penalties have been proposed
Cancellation of registration.
For contravenes of the Act and rules or orders made thereunder the penalty is ranging INR 10,000 /- for each day of default upto 5% of the Cost of the building or apartment or plot.
If there is further default, imprisonment of upto one year or further fine upto 10 % of the estimated cost of the plot /building or apartment are provided.
"INTYGRAT" will guide Real Estate Agents, Brokers and other Intermediaries for their registration with Authority and will take them through the process. Registration for Agents, Brokers and Intermediaries is mandatory under RERA.
This covers a wide range of advisory under RERA for enabling the Agents/Intermediaries in fulfilling the obligations including complaints resolution, Dispute resolution, adjudication etc.
This covers a wide range of advisory, handholding & legal support services for enabling the Real Estate Agent in dealing with Authority / Buyer/ Promoter.