The Ministry of HUPA has prepared DRAFT rules for Real Estate Regulation and Development Act 2016 for UTs without legislature (Andaman & Nicobar Islands, Chandigarh, Dadra & Nagar Haveli, Daman & Diu, Lakshadweep). Public comments are sought on the same by maximum 08th July, 2016.
Application for Registration by the real estate agent.-
(1) Every real estate agent required to register as per sub-section
(2) of section 9 of the Act shall make an application in writing to the Regulatory Authority as per Form ‘G’ along with the following documents, namely:-
(a) brief details of his enterprise including its name, registred address, type of enterprise (proprietorship, societies, partnership, companies etc.);
(b) particulars of registration including the bye-laws, memorandum of association, articles of association etc. as the case may be;
(c) photograph of the real estate agent if it is an individual and the photograph of the partners, directors etc. in case of other entities;
(d) authenticated copy of the PAN card;
(e) income tax returns filed under the provisions of the Income Tax Act, 1961 for three financial years preceding the application or in case the applicant was exempted from filing returns under the provisions of the Income Tax Act, 1961 for any of the three year preceding the application, a declaration to such effect;
(f) authenticated copy of the address proof of the place of business; and
(g) such other information and documents, as may be specified by regulations.
(2) The real estate agent shall pay a registration fee at the time of application for registration by way of a demand draft drawn on any scheduled bank, for a sum of rupees twenty-five thousand in case of the applicant being and individual; or rupees two lakh fifty thousand in case of the applicant being anyone other than an individual.
Grant of Registration to the real estate agent.-
(1) Upon the registration of a real estate agent as per section 9 read with Rule 10, the Regulatory Authority shall issue a registration certificate with a registration number as per Form ‘H’ to the real estate agent.
(2) In case of rejection of the application as per section 9 the Regulatory Authority shall inform the applicant as per Form ‘I’.
(3) The registration granted under this rule shall be valid for a period five years.
Renewal of registration of real estate agent.-
(1) The registration granted under section 9, may be renewed as per section 6, on an application made by the real estate agent in Form ‘J’ which shall not be less than three months prior to the expiry of the registration granted.
(2) The application for renewal of registration shall be accompanied with a demand draft drawn on any scheduled bank, for for a sum of rupees five thousand in case of the real estate agent being an individual or rupees fifty thousand in case of the real estate agent being anyone other than an individual.
(3) The real estate agent shall also submit all the updated documents set out in clauses (a) to (f) of rule 10 at the time of application for renewal.
(4) In case of renewal of registration, the regulatory authority shall inform the real estate agent about the same as per Form ‘K’ and in case of rejection of the application
for renewal of registration the regulatory authority, shall inform the real estate agent as per Form ‘I’: Provided that no application for renewal of registration shall be rejected unless the applicant has been given an opportunity of being heard in the matter.
(5) The renewal of registration of the real estate agent shall be granted provided that the real estate agent remains in compliance with the provisions of the Act and the rules and regulations made there under.
(6) The renewal granted under this rule shall be valid for a period five years.
Revocation of Registration of real estate agent.-
The Regulatory Authority may, due to reasons specified under sub-section (7) of section 9, revoke the registration granted to the real estate agent or renewal thereof, as the case may be, and intimate the real estate agent of such revocation as per Form ‘I’.
Maintenance and preservation of books of accounts, records and documents.-
The real estate agent shall maintain and preserve books of account, records and documents in accordance with the provisions of the Income Tax Act, 1961.
Other functions of a real estate agent.-
The real estate agent shall provide assistance to enable the allottee and promoter to exercise their respective rights and fulfil their Draft Page 7 of 56 respective obligations at the time of booking and sale of any plot, apartment or building, as the case may be.
For complete Draft Copy of this RERA documents, Please download here.