The Ultimate Guide to Drafting Your Separation Agreement with a Template
RERA for Real Estate Agent
1. Real Estate (Regulation &
Development) Act,2016
Key Highlights and Important
Provisions for Agents
2. Scheme of the Presentation
Introduction
(Slide no.1)
Structure of the act
(Slide no.2)
Objective of the act
(Slide no.3)
Applicability
(Slide no.4)
Exemptions
(Slide no.5)
Definitions
(Slide no. 6 to 7)
Registrations
(Slide no. 8)
Functions
(Slide no.9 to 10)
Chapter VIII- Offences,
Penalties and
Prosecution
(Slide no.11 to 14)
Rajasthan Real Estate
(Regulation &
Development) Rules, 2017
(Slide no.15 to 20)
Quarterly Online
Disclosures (Updation)
(Slide no. 21 to 22)
3. Introduction
The Act came into force w.e.f. May 1st, 2017
Each & Every Real Estate Project, Real Estate Developer
& Real Estate Agent in India has to “Compulsorily”
register under the Act as per the prescribed procedures
with Real Estate Regulatory Authority (RERA).
Developers/Agents shall not able to offer any Real Estate
Project(s) or Product(s) to Customers & Investors without
registering themselves and there project or product, with
RERA.
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4. Structure of the Act
Real Estate Regulation and Development Act has 10
Chapters and 92 Sections. These are as under:-
Preliminary
Registration of Real
Estate Project and
Registration of Real
Estate Agents
Functions and
Duties of
Promoter
Rights and
Duties of
Allottees
The Real Estate
Regulatory
Authority
Central
Advisory
Council
The Real Estate
Appellate
Tribunal
Offences,
Penalties and
Adjudication
Finance,
Accounts,
Audits and
Reports
Miscellaneous
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5. Objective
To establish the Real Estate Regulatory Authority.
Regulation and Promotion of the Real Estate Sector;
To ensure sale of plot, apartment or buildings or sale of
real estate project in an efficient and transparent manner;
To protect the interest of the consumers in real estate
sector;
To establish an adjudicating mechanism for speedy
dispute redressal and to establish the Appellate Tribunal.
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6. Applicability
Act applies to:-
– Commercial Real Estate projects including shops,
offices, showrooms, Godowns
– Residential Apartments
– Plotted Developments
– Ongoing projects in respect of which completion
certificates have not been issued (Exclusions as per
Rajasthan RERA Rules, 2017 stated at slide no.53)
Real Estate projects developed in phases would require
registration for each phase separately
4
7. Exemptions
Projects being developed on land less than 500 square
meters(0.05 hectare or 0.12 acre)
Number of units does not exceed 8 (all phases)
Obtained completion certificate for the project before the
commencement of the Act
Redevelopment Real Estate projects where no new
allotments are to be made
Renovation/ Repair – Not involving marketing,
advertisement, selling or allotment of any apartment, plot
or building
Does not cover sale of ready to occupy property in the
resale market
5
8. Definitions (Sec.2)
“Advertisement”- means any document described or issued as
advertisement through any medium and includes any notice,
circular or other documents or publicity in any form, informing
persons about a real estate project, or offering for sale of a plot,
building or apartment or inviting persons to purchase in any
manner such plot, building or apartment or to make advances or
deposits for such purposes.
“Allottee”- in relation to a real estate project, means the person to
whom a plot, apartment or building, as the case may be, has been
allotted, sold (whether as freehold or leasehold) or otherwise
transferred by the promoter, and includes the person who
subsequently acquires the said allotment through sale, transfer or
otherwise but does not include a person to whom such plot,
apartment or building, as the case may be, is given on rent
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9. "Real Estate Agent" - means any person, who negotiates or acts on behalf of one person in
a transaction of transfer of his plot, apartment or building, as the case may be, in a real
estate project, by way of sale, with another person or transfer of plot, apartment or
building, as the case may be, of any other person to him and receives remuneration or fees
or any other charges for his services whether as commission or otherwise and includes a
person who introduces, through any medium, prospective buyers and sellers to each other
for negotiation for sale or purchase of plot, apartment or building, as the case may be, and
includes property dealers, brokers, middlemen by whatever name called.
"Real Estate Project" - means the development of a building or a building consisting of
apartments, or converting an existing building or a part thereof into apartments, or the
development of land into plots or apartment, as the case may be, for the purpose of selling
all or some of the said apartments or plots or building, as the case may be, and includes the
common areas, the development works, all improvements and structures thereon, and all
easement, rights and appurtenances belonging thereto.
“Company” :- means a company incorporated and registered under the Companies Act,
2013 and includes,—
(i) a corporation established by or under any Central Act or State Act;
(ii) a development authority or any public authority established by the Government in
this behalf under any law for the time being in force.
Definitions (Sec.2)…
7
10. Registration of Real Estate Agent (Sec.9)
No real estate agent shall facilitate the sale or purchase of or act on
behalf of any person to facilitate the sale or purchase of any plot,
apartment or building, in a real estate project or part of it, being
the part of the real estate project registered u/s 3, being sold by the
promoter in any planning area, without obtaining registration
under this section.
The Authority shall, within such period, in such manner and
accompanied by such fees and upon satisfying itself of the
fulfillment of such conditions, as may be prescribed—
(a) grant a single registration to the real estate agent for the entire
State of Union territory, as the case may be;
(b) reject the application for reasons to be recorded in writing, if
such application does not conform to the provisions of the Act or
the rules or regulations made there under.
8
11. Functions of Real Estate Agent (Sec.10)
Every real estate agent registered u/s 9 shall:-
a) Not facilitate the sale or purchase of any plot,
apartment or building, in a real estate project or part
of it, being sold by the promoter in any planning
area, which is not registered with the Authority,
b) maintain and preserve such books of account,
records and documents as may prescribed,
c) not involve himself in any unfair trade practices,
d) facilitate the possession of all the information and
documents, as the allottee, is entitled to, at the time
of booking of any plot, apartment or building,
e) Discharge such other functions as may be
prescribed.
9
12. Functions of Real Estate Agent (Sec.10)..
Unfair Trade Practices namely:-
(i) the practice of making any statement, whether
orally or in writing or by visible representation
which—
(A) falsely represents that the services are of a
particular standard or grade;
(B) represents that the promoter or himself has
approval or affiliation which such promoter or
himself does not have;
(C) makes a false or misleading representation
concerning the services;
(ii) permitting the publication of any advertisement
whether in any newspaper or otherwise of services
that are not intended to be offered.
10
14. Penalty for non-registration and contravention u/s 9 &
10 (Sec.62)
Any real estate agent fails to comply with or contravenes the provisions
of section 9 or section 10
Than, Penalty of
Rs.10,000 for every day
during which such
default continues
Which may
cumulatively extend up
to 5% of the cost of plot,
apartment or buildings
As the case may be, of the real estate project, for which the sale or
purchase has been facilitated as determined by the Authority
12
15. Penalty for failure to comply with orders of
Authority by Real Estate Agent(Sec.65)
Any Real Estate Agent
Who fails to comply
with, or
Contravenes any of
the orders or
directions of the
authority
He shall be liable to a
penalty for every day
during which such
default continues,
which may
cumulatively extend
up to 5% of the
estimated cost of plot,
apartment or building
As the case may be, of
the real estate project,
for which the sale or
purchase has been
facilitated and as
determined by the
Authority.
13
16. Penalty for failure to comply with orders of
Appellate Tribunal by Real Estate Agent(Sec.66)
Any Real Estate Agent
Who fails to comply
with, or
Contravenes any of
the orders, decisions
or directions of the
Appellate Tribunal
He shall be
punishable with
imprisonment for a
term which may
extend up to 1 year, or
With fine for every day
during which such
default continues, which
may cumulatively extend
up to 10%
Of the estimated cost of
plot, apartment or
building, as the case may
be, of the real estate
project, for which the
sale or purchase has been
facilitated, or with both.
14
17. Rajasthan Real Estate (Regulation &
Development) Rules,2017
Key Highlights and Important
Provisions15
18. Structure of the Act
In exercise of the powers conferred by section 84 of the Real Estate (Regulation and
Development) Act, 2016 (Central Act No. 16 of 2016), the State Government, hereby
makes the Rajasthan Real Estate (Regulation and Development) Rules, 2017 :-
Preliminary
Real Estate
Project
Real Estate
Agent
Details to be
published on the
website of the
Authority
Rate of Interest payable by
the Promoter and Allottee
& Timelines for refund
Real Estate
Regulatory
Authority
Real Estate
Appellate
Tribunal
Offences and
Penalties
Budget & Report Miscellaneous
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19. Forms
Form A (see rule 3(2)) :- Application for Registration of Project
Form B (see rule 3(4)) :- Declaration
Form C (see rule 6(1)) :- Registration Certificate of Project
Form D (see rule 6(2), 7(4), 8) :- Intimation of Rejection of Application
for registration of Project/ Rejection of application for extension of
registration of project/ Revocation of Registration of Project
Form E (see rule 7(1)) :- Application for Extension of Registration of
Project
Form F (see rule 7(4)) :- Certificate for Extension of Registration of
Project
Form G (see rule 9) :- Agreement for Sale
Form H (see rule 10(1)) :- Application for Registration of Real Estate
Agent
Form I (see rule 11(1)) :- Registration Certificate of Real Estate Agent
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20. Forms…
Form J (see rule 11(2), 12(4), 13) :- Intimation of Rejection of Application
for registration of Real Estate Agent/ Rejection of application for Renewal
of Registration of Real Estate Agent / Revocation of Registration of Real
Estate Agent
Form K (see rule 12(1)) :- Application for Renewal of Registration of Real
Estate Agent
Form L (see rule 12(4)) :- Renewal of Registration of Real Estate Agent
Form M (see rule 27(2)) :- Appeal to Appellate Tribunal u/s 44 of the Real
Estate (Regulation & Development) Act, 2016
Form N (see rule 35(1)) :- Complaint to the Real Estate Regulatory
Authority u/s 31 of the Real Estate (Regulation & Development) Act, 2016
Form O (see rule 36(1)) :- Application to Adjudicating Officer
Form P (see rule 37) :- Annual Statement of Accounts
Form Q (see rule 38) :- Annual Report to be Prepared by the Authority
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21. Application for Registration by the Real Estate
Agent(Rule 10)
Every real estate agent required to register as per section 9(2) shall make an application to
the Authority along with the following documents, namely:-
(a) brief details of his enterprise including its name, registered address, type of enterprise
(proprietorship, society, partnership, company etc.);
(b) particulars of registration (whether proprietorship, society, partnership, company etc.)
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) authenticated copy of the address proof of the place of business; and
(f) such other information and documents, as may be specified by regulations.
The real estate agent shall pay a registration fee at the time of application for registration
by way of a demand draft or a bankers cheque drawn on any scheduled bank or through
online mode, as the case may be For a sum of
i. In case of the applicant being an individual :- Rs 10,000 or
ii. In case of the applicant being anyone other than an individual :- Rs. 50,000
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22. Terms and conditions and the fine payable for
compounding of offence (Rule 34)
The court may compound any offence specified under section 70 on payment of
amount as specified in the table given below :-
S.NO. Offence Amount to be paid for
compounding the offence
1 Punishable with imprisonment under sub-section (2)
of section 59
5% of the estimated cost of
the real estate project
2 Punishable with imprisonment under section 64 5% of the estimated cost of
the real estate project
3 Punishable with imprisonment under section 66 5% of the estimated cost of
the plot, apartment or
building, as the case may be,
of the real estate project, for
which the sale or purchase
has been facilitated
4 Punishable with imprisonment under section 68 5% of the cost of the plot,
apartment or building, as the
case may be
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23. Quarterly Online Disclosures (Updation)
The Authority shall ensure that the following information shall be made
available on its website in respect of each real estate agent registered with it or
whose application for registration has been rejected or revoked:
A. For real estate agents registered with the Authority:
(i) registration number and the period of validity of the registration of the real
estate agent;
(ii) brief details of his enterprise including its name, registered address, type of
enterprise (proprietorship, society, partnership, company etc.);
(iii) particulars of registration as proprietorship, society, partnership, company
etc including the bye-laws, memorandum of association, articles of association
etc. as the case may be;
(iv) name, address, contact details and photograph of the real estate agent if he is
an individual and the name, address, contact details and photograph of the
partners, directors etc. in case of others;
(v) authenticated copy of the PAN card; and
(vi) authenticated copy of the address proof of the place of business of the real
estate agent and its other officials.
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24. Quarterly Online Disclosures (Updation)...
B. In case of applicants whose application for registration as a real
estate agent have been rejected or real estate agents whose
registration has been revoked by the Authority:
(i) registration number and the period of validity of the registration
of the real estate agent;
(ii) brief details of his enterprise including its name, registered
address, type of enterprise (proprietorship, society, partnership,
company etc.); and
(iii) name, address, contact details and photograph of the real estate
agent if he is an individual and the name, address, contact details
and photograph of the partners, directors etc. in case of others.
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25. Organization Structure of Urban Development & Housing
Department (Same applicable to RERA, Act,2016)
Honorable Minister, UDH
Additional Chief Secretary, UDH
Joint secretary-I
(Shri Sube Singh
Yadav)
Joint secretary-
II
(Shri Rajendra
Singh
Shekhawat)
Accounts Officer
(Shri Badri
Narayan
Sharma)
Ass. Accounts
Officer
Joint secretary-
III
(Shri Jagjeet
Singh Monga)
Sr. Deputy
Secretary
(Shri Bal Mukand
Sharma)
Assistant Secretary
Section Officer
Assistant section
Officer
Upper Divisional
Clerk
Lower Divisional
Clerk
Sr. Town
Planner
(Shri Pradeep
Kapoor)
Ass. Town
Planner
Statistical
Officer
Sr. Joint LR
(Shri Ashok
Singh)
Deputy LR
(Shri Prabhu
Singh
ALR