A “Real estate agent” is a person/individual who acts on behalf of another person in a real-estate transaction. Real estate agents include property dealers, brokers, middlemen and many more. Top services delivered by real estate agents including introducing and deal making on leasing or sale of plot, land, building & apartments. Under the UP RERA Act all real estate agents need to obtain a RERA registration for Agents.
The RERA Act has provided State Governments with the powers to issue rules & regulations related to RERA registration for real estate agent registration. Any project where the area of development exceeds 500 square meters or if the no. of apartments developed is more than eight, RERA registration would be needed for the project and the project can be sold only by those Agent who are having RERA registration. Therefore, only an Agent having RERA Registration is eligible for dealing in properties having RERA registration.
What are the Benefits of RERA Registration for Agents?
As per the RERA Act, a real estate project that must be registered under the RERA Act can be dealt only by a real estate agent having RERA registration. RERA registration is required to advertise, market, book, sell or offer for sale, or invite persons to buy in any plot, apartment or building.
Only these kind of plots and apartments are exempted from RERA registration requirements:
- The area of land proposed to be developed does not exceed 500 square meters.
- The no. of apartments introduced to be developed does not exceed 8, inclusive of all phases.
- Repair/re-development or renovation which does not involve marketing, advertising selling or new allotment of any apartment, plot or building.
Thus, RERA registration is a required for all real estate agents. Having UP RERA registration would help set up credibility amongst prospective buyers & sellers and show professionalism.
Project Registration Under UP RERA
- Registering projects with RERA UP necessitates following these steps:
- Visit the official website of UP RERA.
- Choose the user type that can be agent or promoter. Enter the email/user ID and password in addition to the captcha code.
- Click Login for being taken to the webpage for registration of projects.
- Fill up all necessary details and upload the documents required for projects that are being registered.
- Finish the process of registration by paying the applicable charges and clicking on Confirm.
What are the Documents Needed for Registration?
Documents to be provided by agent:
- Copy of PAN card
- Details of enterprise for real estate agent
- Particulars of registration inclusive of bye-laws
- Memorandum of Association
- Articles of Association
- Income Tax Returns(ITR) for last three financial years
- Address proof of the enterprise/business entity
How Can You Register with RERA UP?
To register projects under Uttar Pradesh RERA, these are steps every stakeholder need to follow.
- Visit the official UP RERA website
- Hover over the ‘Registrations’ button and select ‘Projects’ from the drop-down menu
- Select the type of user. Choose the most appropriate option from the list, either ‘Promoter’ or ‘Agent’
- Enter your personal details, email ID & password for signin
- After this it will redirect you to a project registration page, where you can fill out the form and attach all supporting and essential documents.
- Pay the registration fee and complete the project registration procedure.