RERA (Agent & Builder) 

1. What is RERA?
The Real Estate (Regulation and Development) Act, 2016 (RERA) is a legislation passed by the Government of India aimed at promoting transparency, accountability, and efficiency in the real estate sector. RERA establishes the Real Estate Regulatory Authority to regulate real estate transactions and activities in the country. The act ensures that builders, developers, and real estate agents comply with fair practices, enhancing consumer protection.

2. RERA for Builders and Developers:
Builders and developers must register their projects with RERA before launching them in the market. This ensures that the project complies with specific regulations and promises a secure environment for consumers. Registration with RERA also provides transparency regarding project completion dates, construction quality, and the rights of homebuyers.

3. RERA for Real Estate Agents:
Real estate agents, brokers, and consultants must also register with RERA to legally offer their services in property transactions. The RERA registration for agents ensures that they follow ethical practices, maintain transparency, and deliver professional services. They are required to provide clear information regarding property listings, agreements, and payment schedules.

4. Key Requirements for Builders and Developers:

• Project Registration: Builders must register every real estate project with RERA before advertising or selling the property.
• Project Details: Builders must provide project details such as the layout plan, completion date, and compliance with approved plans.
• Commitment to Delivery: Builders must adhere to the promised delivery timeline and cannot change the project details without the approval of RERA.
• Legal Protections: Builders are obligated to provide guarantees on structural quality and ensure the project complies with environmental laws.

5. Key Requirements for Real Estate Agents:

• Agent Registration: All real estate agents must obtain RERA registration to operate legally.
• Code of Conduct: Agents must follow a code of conduct as set out by RERA, ensuring ethical practices in property dealings.
• Disclosure of Information: Real estate agents must disclose accurate details about properties, their legal status, and pricing to clients.
• Renewal of Registration: Agents must renew their registration periodically to continue offering services.

6. Benefits of RERA Registration for Builders and Agents:

• Transparency: RERA registration promotes transparency in the real estate sector by making all project details publicly accessible, ensuring that builders and agents adhere to guidelines.
• Trust and Credibility: Builders and agents with RERA registration gain trust from homebuyers and investors, as it is seen as a mark of reliability and compliance with legal standards.
• Consumer Protection: RERA ensures that consumers are protected from fraudulent practices and delays in project completion, as builders and agents are held accountable under the law.
• Faster Approvals: Registered builders can expect smoother approvals and clearances from government bodies as they comply with regulations.
• Professionalism in Service: Real estate agents and developers who are RERA-certified gain access to a structured environment, improving their credibility in the market.

7. Documents Required for RERA Registration:

• For Builders/Developers:

  • Proof of identity and address of the company or builder.
  • Project details, including the approved layout and plans.
  • Land title and ownership documents.
  • Registration certificate of the construction company.
  • Financial statements and audited reports of the company.
  • Legal documents proving land acquisition or partnership for the project.

• For Real Estate Agents:

  • Proof of identity and address of the agent.
  • Professional qualification documents (if applicable).
  • Proof of business registration or authorization.
  • A declaration of adherence to the RERA code of conduct.

8. Process for Obtaining RERA Registration:

• For Builders/Developers:
  1. Submit Application: Builders must apply to the state RERA authority with all necessary project and company details.
  2. Verification: The RERA authority reviews the submitted documents and inspects the project details.
  3. Approval: Upon successful verification, the project is registered with RERA, and a registration number is issued.
  4. Advertisement: Builders can then legally advertise and sell their property under the registered project.
• For Real Estate Agents:
  1. Fill the Application Form: Real estate agents need to submit their application to the state RERA authority along with supporting documents.
  2. Verification of Documents: The RERA authority reviews the agent's credentials and business operations.
  3. Approval and Registration: After verification, the agent receives the RERA registration number, allowing them to operate legally in the real estate market.

9. Penalties for Non-Compliance with RERA:

• Builders/Developers: Builders who fail to register their projects with RERA may face penalties, including fines or suspension of construction activities. If a builder delays project delivery or misleads consumers, they may face legal action or financial compensation to buyers.
• Real Estate Agents: Agents who fail to register with RERA or violate the code of conduct may face penalties, including fines, suspension, or even cancellation of their license to operate.

Why Choose Us?
We offer comprehensive assistance for builders, developers, and real estate agents to obtain RERA registration in India. Our team ensures that all documentation is in order and compliance with state-specific regulations is met. With our expertise, we guide you through the process of RERA registration, ensuring that you can legally market your properties and provide reliable services to clients. Whether you're a builder looking to register a project or an agent aiming to build credibility, we are here to help.