The Role of Real Estate Agents and Their Registration Process

Real estate agents are the support system of the real estate market. They operate in the market where money is either brought by the buyers or by the promoters. In developed countries like the U.S, a real estate agent is valued extremely high by the public. A real estate agent must register for rera. 

What is the role of real estate agents?

They realize the value of the fact that they are the medium through which a buyer and a promoter meet. A real estate agent is a catalyst through which selling and buying can be done smoothly in the market. However, before coming into the market, they have to complete a mandatory Rera registration for agents. 

They realize the value of the fact that they are the medium through which a buyer and a promoter meet. A real estate agent is a catalyst through which selling and buying can be done smoothly in the market. However, before coming into the market, they have to complete a mandatory Rera registration for agents. 

Rera Registration for real estate Agents

The Real estate act makes it compulsory for all residential as well as commercial real estate projects over 500 square meters to complete a Rera agent registration process. This is done for providing greater transparency in the marketing and execution of projects. For those current projects which have not obtained a completion certificate will have to pay a Rera agent registration cost and complete the process within three months. 

Those who are thinking on How to Register with RERA, they can visit their website and understand the whole process. There is also the facility of online registration for rera. After the registration process ends, the promoter of the project will be provided with a login id, registration number and a password for the applicants to fill up important details. 

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meraRERA Property Legal Solution

RERA or the Real Estate Regulation and Development Act passed in March 2016 has been a turning and a revolutionary act in the world of Real Estate. This Act will deal with various issues that one come across in the Real Estate Sector. The need of RERA came up with the remarkable growth in the Real Estate in both Residential and the Commercial Sector. Since, our country has been arising as a great economic power among the topmost nations all over the world, there was a requirement for a transparent body in the Real Estate sector to deal with the different problems and issues in the same sector. This will provide a fluent growth in the Real Estate industry and will bring in the fair practices into the same.

With the implementation of RERA india, meraRERA came into existence which act as a hub or a portal which helps in providing information and spreading awareness about the RERA. Following are some key points which tells us how the meraRERA will be helpful for the society.

• Act as a bridge or gateway for the people and the Real Estate business.
• Provides awareness about the RERA.
• Helps people from getting cheated in various way like the extra charges that weren’t mentioned in the agreement earlier.

Promotes the growth of business and Real Estate industry in the country.
Not only these, meraRERA helps you in more ways in contributing towards the development of the country. Our team works 24*7 in order to help Home Buyers in the best ways we can and layout a guide for you keeping your requirements in our mind. Moreover, we help you in getting you aware of the rules of the RERA so that you can adhere that. With RERA and meraRERA, Real Estate sector will achieve new heights promoting transparency in business practices in the industry.

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Build your business with a name to trust

Delhi has a special place in the heat of anybody who has lived here. Thus, the ones who are fortunate to come back have a strong urge to own a place in the national capital to call home. Thus, the lure of city sees a lot of business being done every year. The Real Estate business in the Capital city isn’t without its pitfalls though.

With the rise in demand for quality housing options, many townships have mushroomed in and around the National Capital Region (NCR). While some stay true to their words and offer a pleasant housing experience, many more are there which leave a bad taste in the mouths of the people concerned. 

The Real Estate Agents, too, are facing a similar situation. While there are many who are toiling relentlessly to make a name for themselves and strive to give their clients a good value for money by helping them buy quality housing options, there are many more who are giving the community a bad name. As such, the old adage of one dirty fish spoiling the whole pond is coming to be true.

Thus, to help you avoid those problems the RERA Consultants have brought up a platform to directly present your expertise to the clients with not just agents registration, but the promoters registration under one roof, the RERA India is a one stop solution for all the problems for buyers and sellers alike.

So, come and join the revolution in the real estate segment of Delhi.

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The Main Features of the Real Estate Regulatory Act

India has a very huge population with demands regarding house, jobs and food. These demands never seem to decrease. Housing is one of the greatest demands of the people in India. This is the main reason why people especially the ones coming from the middle class get attracted to almost any real estate project. Most of the times people fall prey to scheming real estate agents who use unethical manner for selling their units. Therefore, the Government of India came up with a transparent authority for checking the developers and this was called RERA India.

What is RERA?

RERA India stands for Real Estate Regulatory Authority passed in the month of March 2016 by the Indian parliament. The authority takes care of the Real Estate Regulatory Act dealing with all the provisions, problems and issues in the real estate market of India. There is also a Real Estate Regulatory Act India Discussion Board that works out matters or problems pertaining to the act.

The Work Procedure of RERA.

RERA For Buyers works towards bringing justice for the buyers by framing some strict policies that need to be fulfilled by the builders or the developers before they sell of their properties. Delayed possession of properties is one major problem faced by people in India. Therefore, RERA works towards helping people by chucking out the discipline and the transparency that the builders need to follow. The Real Estate Regulatory Act India Discussion Board that works on the Real Estate Regulatory Act will check the under-construction property assignments thoroughly. It will do this because maximum swindling is carried out in this stage of property development. RERA is the first of its kind real estate authority with the sole purpose of channelizing the people who are into the real estate market.

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RERA India Works towards Safeguarding the Interests of the Home Buyers

In the last few decades, there are a number of problems that have arisen in the real estate market of India. There are many real estate builders and developers who are behind bars because of fraudulent activities. These cheating cases are of delayed possession of the residential projects, plan changes and extra charges or hidden costs that the buyers were not aware of. Hence, RERA India came into effect.

Problems Faced by Buyers and Promoters

This act helps the middle class people who face real estate irregularities and problems. The home buying problems are many for the people in India. Apart from this, the developers also need to face great difficulties. The promoters also face major difficulties like ever-rising corruption and project approval.

What does the Real Estate Regulatory Authority in India do?

meraRERA Property Legal Solution works towards solving the problems of the developers, builders, promoters and most importantly the buyers. This Real Estate Regulatory Authority has been incorporated for the benefit of the people of India. The Real Estate Regulatory Authority guides the real estate agents, promoters and buyers on how they can effectively contribute towards serving the real estate marketing in the best way possible. It helps in bringing transparency and stability in the real estate market.

What do the RERA Consultants do?

The RERA consultants are aimed towards offering good help to the real estate agents, promoters and buyers regarding the all new Real Estate Regulatory and Authority. These consultants are very well aware of the power of synchronization of the real estate agents, buyers and promoters. They make proper arrangements for this synchronization making sure that none of these suffer because of the defaults of others. The consultants are adept at educating promoters and buyers about the strict rules pertaining to the sell and purchase of property in India.

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meraRERA An Informational Portal to Make Aware About RERA Act

meraRERA is an informational portal from where you can gathered all the information related to the RERA Act 2016. We have all the new update about the RERA and numbers of blogs for the current news of RERA India. By help of our online portal, we want to make aware to the people who are interested for the investment in real estate sector. Our portal is not only property buyers centric but we are trying to cover all the issues of realty world including builders, promoters, agents and buyers.

We have team of experienced professionals who always keep on eyes the latest information about Real Estate Regulatory Act. 

Even, we also create a Real Estate Regulatory Act India Discussion Board where we post the all the query and question that we get in our mail box all across the country and invites to the people of respected field to answer queries. By help our portal, people can better understand the basic structure of RERA For Buyers can avoid fraud builders or developers. Genuine builders can also increase their credibility by registering themselves under Real Estate Regulatory Authority.

We are here to make you aware about your rights of real estate sector. meraRERA is much required juncture of people to buying, promoting and structure and promoting a real estate scheme with the government. People can use the website of RERA India to get a fair idea of its working and lucidity, to gain information about a promoter as all the details of the promoter will be present on RERA India website and to take part in public forum and discussions about the working of this real estate regulatory agency.

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How RERA Proven Beneficial For Promoters & Homebuyers

The Real Estate Regulatory Authority casts an onerous responsibility on developers, in the form of project registration and obligatory disclosures on a daily basis through a portal to be maintained by the RERA; thus giving buyers the ability to analyze the reliability of the builder as well as the project before making their investment decision. One may also have to worry about similar responsibility being cast on a real estate agent or marketing agents under the bill. Apart from the disclosures, the bill also mandates the developers to honor their commitment in terms of timelines, quality, facility, etc and gives that any default on the part of the builder could result in revocation of the project listings, ceasing of bank accounts and handover of development rights to the builders or third party. The bill also provides for severe penal and trial consequences in case of defaults or non-compliance's and entails listing the builder as a defaulter on the portal. 

The Bill also seeks to arrangement a faster clash redressal mechanism, with the establishment of the Real Estate Appellate Tribunal, which shall have the command to regulate its own procedure. While these disclosures will provide buyers the requisite data to take well-versed decisions, use of such data by unprincipled elements needs to be addressed to maintain a healthy competition. 

Key features of RERA:

• Applicable to both residential and commercial developments, with some exemptions
• RERA to be established for dispute redressal
• Disclosure on the part of developers – track record, litigations, development status, approvals obtained, etc.
• Mandatory to deposit 50 percent of realization amount in an Escrow Account; to be used only for construction
• Bigger responsibility cast on the Agents/ marketing agents
• Buyers grant with more rights
• In case of contravention by the developers, deregistration of projects, duty of penalty and other financial consequences
• Advance by promoter not in excess of 10 percent, without written agreement

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RERA the End Relief for Buyers…

The realty sector of India has long been one of the most unorganized sectors in India. The developers and real estate agents for so long have managed to manipulate the modest buyers by forming a vicious circle. The lack of any legality and proper system has further encouraged the promoters and agents to practice corrupt activities.

There often have been instances wherein, real estate agents sold the same project to more than one client and fled away with the money. The buyer in this aggrieved situation has often been helpless since there was no one to complaint to. Buyers further have to give in to the terms and conditions, though buyer is said to be the king of the market. Delayed possession is another common problem in the real estate sector. Developers often invest the money of sale proceeds of one project into the other project. This delays the completion of the ongoing project and ultimately leads to the delayed possession.

A relief has come to the buyers with the approval of real estate regulatory bill 2016. Under the RERA For Buyers  2016 Act, each state and union territory will have to form a regulatory body. This regulatory body will be made up of Members of authority and a chairperson. 

All the developers and real estate agents will now have to get registered under RERA India.  This will help buyers differentiate under compliant and non-compliant, builders and agents. Further a developer is required to maintain an escrow account which contains 70% sale proceeds of the ongoing project. A developer cannot now advertise or launch the project without getting the project registered under RERA.

 To change the layout plan of any project, the promoter will have to seek consent from two third of buyers. RERA with proper rules and regulations is expected to bring transparency in this long messed up sector.

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RERA Consultants Provide Help to Prevent the Scams in Real Estate Sector

RERA Consultants is a platform which has done via research on the official rule book of RERA unconfined by the government. The developer, buyers and the agents can come up here for the best synchronization among themselves. We propose consulting services to the builders and the developers to get registered under RERA Registration.

Apart from that, our public forums and connections will also prove helpful for everybody. Real estate is a very imperative sector for a country’s growth and the current position is really bad with every day a huge number of complaints being filed against dissimilar bodies of real estate. It is of great significance that a buyer starts to trust an agent and a promoter so that a appropriate passageway of business can take place.

 

RERA consultants have carefully sketched all the rules as written in RERA so that people can simply know about them and can understand how much effort the government is making so that simplicity can be managed and buyers don’t have to feel embittered with their hard earned money again. Therefore, if you are a home buyer or an agent or a promoter, feel free to contact us anytime so that we can do appropriate discussions on how to go about it and jointly give our help for a greater good. Our team has enough knowledge about Real Estate Regulatory Authority in India.

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meraRERA Makes Aware Home Buyers For Their Rights

Real Estate sector of India play an important for the growth of GDP yet is one of the scammed or unorganized areas. There is no synchronization between home buyers and promoters. Home buyer always feels derelict and vexed while buying or selling any property due to the sarcastic circle of developers. But with meraRERA.com, this sarcastic circle of promoters will break and home buyers will occurrence increased transparency in the reality world. 

Real Estate Regulatory Act India aims to bring a proper apparatus in the real estate sector with system and regulations that guard the attention of Home Buyers. The distinct body will cut the divergence between developers and buyers. The Real Estate Regulatory Act 2016 has brought applause on the face of home buyers and has been envisioned as the best milestone reform in real estate sector till now. RERA will play an essential part in MPD 2021, as it will boost the mission Housing for all by 2022.

According to RERA each state and union territory will have authority and regulatory which will address the issues including delayed possessions, scams, high prices, fraud layout plans and much more. Often people have come across a condition where they have to pay token amount while purchasing any commercial and residential property and rest of the amount according to the builder agreement with any formal communication. If you fail to pay the remaining one, token money is never returned to the buyers. 

With RERA India, promoters will have to stick to all the rules and policy which pay a special focus on opportune completion of projects. Any setback will chastise the developers in the form of fine and penalties. RERA is a welcome varies in land expansion reforms. The government has also intended to introduce digitisation of land and land titles which mean the land title would transform into a registry number and the number will then tell the real proprietor of the land. 

The step will be an immense help in gladdening land insurance title. The RERA has made it obligatory for the promoters to be registered under RERA along with all the details of their experience and projects. The information will be uploaded on the government website of RERA India. Thus helping buyers are to draw an assessment between just and unfair builders.

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Foreign Inflow Capital Expected to Increase with RERA...

Real Estate Regulatory Authority (RERA) is expected to augment the foreign inflow capital in the Indian realty sector. The Indian realty sector has long been one of the most messed up sectors in India. Buyers have often exhausted due to the manipulated operations of developers. But with RERA India, it is expected real estate will soon be synonymous to transparency.

The RERA 2016 Act addresses all the grievances of buyers and lay a special emphasis on timely delivery of various residential and commercial projects. The rules and regulations of RERA 2016 Act has given consumers a chance to differentiate between the registered and non-registered developers and real estate agents. It will be back on radar with better clarity and strict penalties for people who fail to comply with the provisions of RERA India.

The Modi government has been a pioneer in the growth of residential and commercial properties and has increased the curiosity among international investors and occupiers. Reputed investors like Brook field, JP Morgan and Blackstone have a strong presence in India and are investing huge sums. The growth of housing projects in India has been slow but of five leasing is increasing at a fast pace. Among all the Asia Pacific markets, Bengaluru emerged as the strongest player in terms of office space leasing. The growth has been witnessed due to the increasing demand from IT, BPO, banking, insurance, pharma and automotive segments.

The real estate investment trusts (REITs) regulations have changed significantly and now with RERA India, the inflow of foreign capital and growth will further propel.

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Appellate Tribunal – A Civil Court Authority Precisely for Real Estate Matters

Our long wish to have an individual government authority for real estate in India has already been fulfilled by Real Estate Regulatory Bill of 2013 which has brought RERA (Real Estate Regulatory Authority). With RERA now spreading its power across all states in India till next year, we have already been introduced to a high-level functioning of real estate consisting of transparency and easy governance. 

This was regarding the functioning, but Real Estate Regulatory of India is smart enough to bring another body, Appellate Tribunal which will be a side kick to RERA giving assistance in providing justice to an association of a society or an individual complaint.

The RERA Appellate Tribunal will be a core authority consisting of Chairperson and few other high ranking officials. The best thing about this Appellate Tribunal is that it will have the same imposing powers as those of civil courts in India. The complaints can have a more direct and quick resolve as a  special real estate civil court is now present. A grievance will be heard within 60 days of the notification given to the tribunal. 

If somehow, it is unable to reply to the appeal made inside 60 days, then Appellate Tribunal would be liable to give a written clarification for the delay. The decision made by this tribunal cannot be overruled unless a high court or Supreme Court says otherwise. RERA Appellate Tribunal will bring a new phase of justice to the grievant parties of real estate of this country.

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It Seems To Be The Best Time For Buyers To Purchase Their Dream House

The real estate sector of India has long been one of the most messed up sectors in India. Buyers have always been manipulated and looted away by the developers. Real Estate Regulatory Act 2016 has revived the hopes of end users. Timely delivery which has been a long debated issue in realty sector is expected to end with RERA Estate Regulatory Authority. The sector is gradually picking up pace. The price correction, RERA 2016 Act and key amendments have brought visible changes.

In an interview, the executive director and head of capital markets, Rajeev Bairathi gave his opinion on realty sector. He believes the real estate market will rejuvenate but it would take some time. He believes RERA has given a much needed boost. The corrected prices are expected to increase affordability and sales with GDP growth.

Some recovery signs have been seen in few markets namely Mumbai, Bengaluru and Hyderabad where the sale of projects is recorded to be more than the projects being launched. But no such change is seen in Delhi NCR.

The good news for buyers is that with falling prices they can easy buy their dream homes and make the best investment.

Rajeev Bairathi further addressed the manipulation in real estate as weed and explained it will take somewhere 5-6 years to vanquish the poison in it. RERA thus is expected to amend all the flaws and boost the realty sector.

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