When is RERA Applicable?

The Real Estate Act makes it mandatory for all commercial and residential real estate projects where the land is over 500 square meters, or eight apartments, to register with the Real Estate Regulatory (RERA) for launching a project, in order to provide greater transparency in project-marketing and execution.

When is RERA Registration required in Maharashtra?

As per the Act, every promoter who wishes to market, sell, advertise, book, or purchase real estate project in Maharashtra is first required to obtain RERA Registration in Maharashtra.

RERA Registration Process for Real Estate Agents and RERA Registration Fees for Agents :

The Real Estate Regulation and Development Act, 2016 also extensively known as RERA has defined some guidelines for Real Estate agents to ensure sale of plot, apartment or building, and sale of real estate project, in an efficient and transparent manner and to protect the interest of consumers in the real estate sector and to establish an adjudicating mechanism for speedy dispute redressal.

Application for Registration by the real estate agent:

1. Every Real estate agent is required to be registered in the RERA Act and shall make an application in writing.

[A]. Under which returns are required to be filed with statutory authority

1. Registration number

2. PAN

3. Aadhaar Card

4. DIN no., as the case may be,

[B]. Particulars of registration obtained under laws, and rules and regulations along with the copy of partnership deeds, memorandum of association, articles of association.

[C]. Recent color photographs of the real estate agents

[D]. Income Tax returns for last three financial years preceding the application

[E]. Proof of principal place of business

[F]. Details (if any) of all real estate projects and their promoters on whose behalf he has acted as real estate agent in preceding five years

[G]. Details of all civil/ criminal cases pending against him or Associate/s. authenticated copies of all letter heads; rubber stamp images, acknowledgement receipts proposed to be used by the real estate agent

[H]. Address, Contact No, Cell No & Email ID

[I]. Incorporation Certificate

[J]. Copy of Deed of Article and Memorandum of Association

RERA Registration Fees for Real Estate Agents:

1.	Rs.10,000	If Applicant is Individual
2.	Rs.1,00,000	If Applicant is an entity which is not registered under Companies Act,2013
3.	Rs.5,00,000	If Applicant is Body Corporate, registered under Companies Act,2013

The Documents Required for RERA Registration Process of an Agent under the RERA Act are:

1. A duly filled RERA agent’s registration form

2. Particulars stating the type of organization (Pvt. Ltd./Public./LLP/Partnership firm/ Proprietorship Firm) with a registration number.

3. A self-attested copy of the address proof of the place of business.

4. A self-attested copy of the Pan Card of the real estate agent

Agent Registration Process :

1. Fill up the personnel/corporate details with supporting documents (Aadhar Card must for Individuals)

2. Generate Login Credentials

3. Pay Registration Fees

4. Authority to authenticate the documents

5. Registration

Advantages of RERA :

1. Accountability

2. Increase Confidence

3. Helps in Increase Professionalism

4. Standardization

5. Boost Investments

6. Consumer Forums

7. Reduction in Litigation

8. Increase Transparency

9. Timely delivery of projects

Penalty for non-registration:

Real estate agents will also be penalized if they will falsely represent any information regarding project to buyers. Penalty will extend upto Rs 10,000 per day and maximum 5% of total project cost. Real estate agent is also required to keep books of accounts of the projects they are indulged in and are answerable for them.