Real estate is a thriving and ever-growing industry. Yes, it has its ups and downs, just like any other business, but it is a very profitable path altogether. Many people want to start their own real estate firm after seeing this. They frequently worry about how to get a real estate license in India while doing so.
You must apply for a real estate agent license in India because the real estate sector is getting more streamlined and regularized. The authorization is granted by RERA, the regulating agency for real estate projects and builders. In India, here’s how to receive a real estate license.
On the official site, you may learn how to register for RERA in your state.
Register as a company or individual agent.
Please pay the required money to apply for a license.
Please send the following documents:
I Tax Return,
A copy of your PAN card
Any other documents linked to registering or applying for registration.
What is RERA?
The Real Estate Regulation and Development Act of 2016 (RERA) was passed. The law was enacted to increase transparency and accountability in the real estate sector. All property transactions between buyers and sellers will be controlled under RERA in order to encourage fair transactions.
RERA was created with a few primary aims in mind. These are the goals:
to boost builders’ compliance and decrease fraud
To provide channels for grievance settlement.
To reduce handover delays.
To defend consumers’ interests by increasing transparency and accountability.
To ensure that activities run smoothly
To establish an Appellate Tribunal to hear appeals from RERA orders, decisions, or directives.
Is it legal to use real estate agents in India?
According to RE/MAX India, around two million people work in real estate transactions in India as of June 2018. A listing of all property agents is needed under the Real Estate (Regulation and Development) Act 2016 (RERA), which went into force on May 1st.
What is the cost of obtaining a real estate license in India?
In Haryana, for example, realtors must pay a license cost of Rs 25,000, while real estate companies must spend Rs 50,000 to receive a RERA license, which can be renewed every five years for a charge of Rs 5,000 for individuals and Rs 10,000 for businesses.
In India, do you need a real estate license?
Every real estate agent must have a registration certificate and license in order to conduct business, according to the Real Estate Regulation and Development Act (RERA) of 2016.
Just like in other states obtaining the necessary legal documents is mandatory for you to be allowed to venture into the real estate world