All you need to know about RERA in Punjab

Author: Riya Kapoor

Highlights

Registration Fees of RERA in Punjab for real estate agents
Documents required for RERA Registration:
This Registration number will be valid for the entire state of Punjab. The real estate agent shall maintain and preserve his books of accounts, records, and documents in accordance with the provisions of the Income Tax Act, 1961.

The government of India has enacted the Real Estate (Regulation and Development) Act 2016 and all the provisions of the Act have come into force with effect from May 1, 2017. Under this Act, State Government is required to establish Real Estate Regulatory Authority for regulation and promotion of the real estate sector in the State. All Real Estate Agents should register under this Act. 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, as the case may be, in a real estate project or part of it, without obtaining registration under this section.

Registration Fees of RERA in Punjab for real estate agents

The real estate agent shall pay a registration fee at the time of application for registration through online mode at the time of online registration, for a sum of Rs.5,000/- in the case of the applicant being an individual or Rs.25,000/- in the case of the applicant being anyone other than an individual.

The validity of Registration number: Real estate agents will get a certificate number which will be valid for five years.

Renewal of Registration: RERA certificate for agents can be renewed after 5 years. The application fees for renewal is Rs 3,000 in the case of an individual and Rs 12,000 in the case of other than an individual. Renewal granted by RERA will be valid for 5 years.

Documents required for RERA Registration:

Passport size photograph of agents/ directors /partners
Copy of Aadhar card of agents /directors/partners
PAN card of real estate agent in case of individual or PAN card of Firm
Authenticated copy of the address proof of the place of business
Particulars of the Registration including the bye-laws, memorandum of association, articles of association etc
Income tax returns for last 3 years.

Jurisdiction: This Registration number will be valid for the entire state of Punjab. The real estate agent shall maintain and preserve his books of accounts, records, and documents in accordance with the provisions of the Income Tax Act, 1961.

Download RERA Punjab rules: https://www.rerafiling.com/pdf/rera-punjab-regulatory-act.pdf

TAG: Real Estate (Regulation and Development) Act, RERA in Punjab, Documents required for RERA Registration