The real estate market is no doubt one of the most profitable businesses in India. It is continuously growing, especially in India, where there is high demand. Real estate prices are increasing as we speak, and there is no better time than now to venture into the business.
Most of the time, property owners have a hard time finding buyers or even getting a reasonable price for their property to be leased. Real estate agents come in in such a case, and they help sell your property since they list it and set up the viewings for appropriate buyers, and in the end, they are paid their commission.
How to get a real estate license in India
To become a real estate agent in India, you must acquire a license by complying with the Real Estate (Regulation and Development) Act, 2016. This act ensures all real estate brokers register with the appropriate state-level real estate agencies. Agents are given a RERA Registration number or license, valid for five years. Additionally, the registration fee ranges from 5,000 – 200,000 Indian Rupees. This fee is for both individuals and companies.
During registration, you will receive a form from the state authority, which you will fill out. When done, you will submit the form with your copies of the following documents.
1. The last three years’ income tax returns receipts.
2. Proof of address.
3. A copy of your PAN Card.
4. Applicants’ other details
The certificate of registration is normally issued within 30 days of application.
Real estate agents in India need to apply for Professional Tax Registration.
How much it costs to get 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.
FAQS
In India, do real estate agents require a license?
Every real estate agent must have a registration certificate and license to conduct business, according to the Real Estate Regulation and Development Act (RERA) of 2016.
What is the cost of a RERA license?
The cost of the RERA registration exam is determined by the educational qualifications. The exam price is AED 3,200 for bachelor’s degree holders and AED 6,300 for non-degree bachelor’s holders. The price for applicants with no educational background is AED 15,750. RERA charges a fee of AED 5,020 for each activity.
Is the real estate test difficult?
Real estate exams are designed to be difficult to pass so that people who will not be skilled agents are weeded out. Though the pass percentage varies by state, it generally hovers around 50% across the country. Only around half of those who take a state licensure exam succeed.
Conclusion
Being a property dealer is not difficult if you have an extensive understanding of the real estate industry and a natural aptitude for it. You can proudly claim to be a professional real estate agent if you register under RERA and acquire your license/certificate. You can also have a highly successful real estate professional if you use specific methods and attributes.