Frequently Asked Questions
What is RERA?
To control and manage Real estate business and its stack holders such as Builders and Agents and to protect buyers of real estate projects . Govt of India has passed Real Estate Regulation Act 2017, Which is generally knowned by its acronym RERA To control and manage Real estate business and its stack holders such as Builders and Agents and to protect buyers of real estate projects . Govt of India has passed Real Estate Regulation Act 2017, Which is generally knowned by its acronym RERA.
What is Maha- RERA ?
This is a version of Act passed by Maharashtra Govt to comply with RERA Act passed by centre and hence it is known as Maha-RERA.
Is it mandatory for All agents to Register under Maha-RERA?
Yes from 1st August , Any business entity will not be able to solicit any business in Real Estate without Registration and getting Licence in Maha-RERA. Yes from 1st August , Any business entity will not be able to solicit any business in Real Estate without Registration and getting Licence in Maha-RERA.
I am a part time Agent/Broker dealing in Property sell and renting, Do I also need to register?
There is no exemption for part time Real estate Agents or Brokers, i.e. Every one either part time or full time need to register for Maha-RERA Registration. There is no exemption for part time Real estate Agents or Brokers, i.e. Every one either part time or full time need to register for Maha-RERA Registration.
What if a Real Estate Agent or Broker Solicit business or Advertise a Project without Registering for Maha- RERA?
By Doing so Agent can draw a lot of trouble for them, they can be penalised by RERA Authority and even face imprisonment. Further Builder or By Doing so Agent can draw a lot of trouble for them, they can be penalised by RERA Authority and even face imprisonment. Further Builder or Promoter will not able to list such agent for their projects. Further Payment and receipt of commission for such unregistered Agents will not be possible.
We have a Partnership firm and We are working as Real Estate Agent. Do every Partner need to register Individually?
No In your case partnership firm only need to register not the partners individually No In your case partnership firm only need to register not the partners individually.
Why Fees for Maha- RERA Registration has been kept so High . i.e Rs One Lakh for Companies?
Probably this has been kept to prohibit non serious Players in the Real estate market. But Govt may have some other motives as well. Probably this has been kept to prohibit non serious Players in the Real estate market. But Govt may have some other motives as well.
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