RERA Agent Registration in Delhi
Complete guide to registering as a real estate agent with Delhi RERA under the Real Estate (Regulation and Development) Act, 2016
What is a RERA Agent Registration?
RERA Agent Registration is a mandatory legal procedure under the Real Estate (Regulation and Development) Act, 2016 (RERA Act) for all individuals operating as real estate agents in Delhi. Agents are intermediaries who facilitate a transaction between buyers and builders in the sector of real estate. After successful registration, RERA authority will assign a registration number, which must be must be quoted in every transaction the agent facilitates and valid for five years.
Why is it Needed?
The main intention of making registration with RERA mandatory is to foster transparency, accountability, and professionalism in the real estate sector in Delhi. It is a key step in creating trust and complying with legal standards. The aim of the registration process is to:
- Protect the rights of home buyers and the security of their investment.
- Encourage transparency by making agents accountable for the information they provide,
- Provide a mechanism to fast-track matters of real estate dispute resolution.
Benefits of RERA Registration
There are many benefits to a real estate agent in Delhi using RERA registration such as:
Increased Credibility
A RERA registration number can significantly enhance the credibility of an agent and develops trust with buyers.
Legal Compliance
It allows an agent to ensure that they are operating in compliance with state and national laws, thus avoiding potential legal issues.
Market Discipline
Registration with RERA aids in building a more regulated and ethical real estate market.
Enhanced Marketability
Being registered will lead to a greater share of the market due to increased client interest.
Dispute Resolution
Once registered, the agents may use the mechanism in place by the RERA authority for faster resolution of a dispute.
Eligibility Criteria
According to the RERA Act, any persons or other entities including individuals, companies, or partnership firms that operates as real estate agents to facilitate the sale and purchase of properties in a RERA registered project are required to register with the authority.
Documents Required
The documentation required for registration as a RERA agent is different for an individual applicant and a company that is applying for registration. A comprehensive list includes the following items:
Personal Information
- PAN Card of the agent (or partners/directors)
- Aadhar Card of the agent (or partners/directors)
- Passport-size photographs of the agent (or partners/directors)
Business Information
- Proof of business address (e.g., rent agreement)
- Details of the firm (include name and registered address)
- In the case of a company or partnership, registration proof (e.g., Certificate of Incorporation or Partnership Deed) is required
Financial Information
- Income Tax Returns (ITR) for the last 3 financial years
Fee Structure
The following is the government registration fee structure for RERA agents in Delhi:
| Type of Agent | Registration Fee | Renewal Fee |
|---|---|---|
| Individual | ₹10,000 | ₹1,000-5,000 |
| Other than Individual | ₹50,000 | ₹2,000-10,000 |
Note: There is also a renewal fee, as well as a penalty for a late application. To give an example, a processing fee of ₹5,000 may apply for re-validation (validity renewal), and the late renewal fee also has a separate fee depending on the delay and the type of applicant, which ranges from ₹1,000 to ₹10,000.
Steps to Get Registered
You can register online via the RERA Delhi website by following these general steps:
Visit Official Website
Access the RERA Delhi website.
Navigate to Registration
Locate and click on the 'Online Registration' or 'Registration' link on the homepage.
Select Agent Registration
In the subsequent dropdown, select 'Register as Agent'.
Create an Account
You will be directed to a pre-registration form. Select your applicant type as individual or other than individual and fill in some basic details such as your name, email ID, and mobile number to create a new account.
Fill Application and Upload Documents
Once you have created your account you will be able to log in to fill out a detailed application form and to upload the required documents.
Fees Payment
The applicable registration fee must be paid online through the portal.
Verification & Approval
The RERA authority will review and verify your application and documents.
Receipt of Certificate
The authority will grant your registration and provide you with your unique registration number on the RERA certificate once the application has been successfully verified.
Timelines
Issuance of Certificate
According to the RERA Act, the authority usually provides the RERA certificate within a period of thirty days from the date of application. However, it is important to note that this is just a timeline and, the certificate may be issued prior to the timeline or there will be delays due to submission of incorrect documents or information.
Registration Validity
The registration will be valid for a period of five years.
Penalties
Consequences of non-compliance with the RERA regulation can lead to significant penalties for agents:
False Information or Misrepresentation
If an agent provides false information or misrepresents project information to a buyer they can be charged penalties of up to ₹10,000 for each day the default continues.
Maximum Penalty Cap
Ultimately, they could be charged up to a maximum of 5% of the value of the total cost of the property or project.
Non-Compliance with Appellate Tribunal
If an agent does not comply with the orders of the Appellate Tribunal, penalties may be charged as high as 10% of the project cost or imprisonment up to three years.
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