MahaRERA Real Estate Agent Handbook 2022 PDF

MahaRERA Real Estate 2022 MahaRERA Real Estate Agent Handbook 2022 https://maharera.mahaonline.gov.in MahaRERA Real Estate Agent Handbook 2022 Maharashtra Real Estate Regulatory Authority (MahaRERA) 6th & 7th Floor, Housefin Bhavan, Plot No. C - 21, E - Block, Bandra Kurla Complex, Bandra (E), Mumbai 400051 Tel. No. 022 68111600 Website: www.maharera.mahaonline.gov.in Acknowledgement Real estate agents play a crucial role in the real estate industry and are among the most important stakeholders in the sector. With this in mind, this book has been written to provide a thorough understanding of the Real Estate (Regulation and Development) Act 2016 for real estate agents. The Real Estate (Regulation and Development) Act 2016 is a significant piece of legislation that regulates the real estate sector and promotes the development of the industry. It is important for real estate agents to be familiar with the provisions of this act in order to comply with legal requirements and to effectively serve their clients. This book aims to provide a comprehensive overview of the act, including its key provisions and their implications for real estate agents. This book is the result of the contributions of multiple individuals and organizations, and we would like to extend our heartfelt gratitude to them. We would like to begin by thanking the Committee constituted for development of curriculum and training handbook. This committee was instrumental in helping us to gather and organize information, and we are deeply appreciative of their hard work and dedication. AIILSG, a premier, Government recognized Institute, under leadership of Shri. Jairaj Pathak , Director General, played a key role in development and finalisation of this book. Established in 1926, the All India Institute of Local Self-Government (AIILSG), has been the steadfast support to Urban Local Bodies (ULBs) across the Country. For more than eight decades it has contributed to the principles and practice of urban governance, education, research and capacity building. It has designed and developed a vast array of training literature and courses and trained more than 1.5 million stakeholders in diverse areas of urban governance and urban services delivery. Finally, we would like to acknowledge the many experts and sources who have contributed to our understanding of the subject matter. Their research and insights have been invaluable in shaping our thinking and informing our arguments. We hope that this book will serve as a valuable resource for our readers and make a meaningful contribution to the field. Thank you again for your support and interest. All rights including Copyright reserved with the Publishers Every effort has been made to avoid errors or omissions in this publication. In spite of this, errors may creep in. Any mistake, error or discrepancy noted maybe brought to our notice which shall be taken care of in the next edition. It is notified that neither the publisher nor the author or seller shall be responsible for any damage or loss to anyone, of any kind, in any manner, therefrom. It is suggested that to avoid any doubt the reader should cross-check all the facts, law and contents of this publication with original Government notifications. No part of this book may be reproduced or copied in any form or by any means [graphic, electronic or mechanical, including photocopying, recording, taping or information retrieval systems] or reproduced on any disc, tape, perforated media or other information storage device, etc., without the written permission of the publishers. Breach of this condition is liable for legal action. All disputes are subject to jurisdiction of courts, tribunals and forums at Mumbai only. Table of Contents 1. Course Orientation 7 1.1. Introduction 7 1.2. Course Objectives & Outcomes 7 2. Introduction to Real Estate (Regulation and Development) Act 2016 (RERA) 8 2.1. Preamble, Purpose and Objectives 8 2.2. Sections of the Act 9 2.3. Key Components of the Act 10 3. Maharashtra Real Estate Regulatory Authority (MahaRERA) 12 3.1. Key Pillars of MahaRERA 12 4. Understanding of MahaRERA Portal 16 4.1. Virtual Tour of the Portal 16 4.1.1. MahaRERA Menu Bar and Sub Menus 21 5. Real Estate Agent Registration and Responsibilities 37 5.1. Who is Real Estate Agent as per RERA? 37 5.2. Registration of Real Estate Agents as per Section 9 of the Act 37 5.3. Type of Real Estate Agents 38 5.4. Registration Application and Process 39 5.5. Renewal of Registration of Real Estate Agents 41 5.6. Functions of Real Estate Agents 42 5.7. Revocation of Registration of Real Estate Agents 44 5.8. Step – by- Step Guidance for Agent Registration on MahaRERA Web Portal 45 5.8.1. Individual Agents 45 5.8.2. Non – Individual Agents 60 6. Real Estate Project Registration and Promoter Responsibilities 78 6.1. Registration of Real Estate Projects 79 6.2. Registration Application and Process 80 6.3. Extension of Registration 83 6.4. Revocation of Registration 83 6.5. Functions and Duties of Promoter 85 MahaRERA Real Estate Agent Handbook 7. Allottees and their responsibilities 91 7.1. Rights of Allottees 91 7.2. Obligations of Allottees 92 7.3. Dispute Resolution 93 7.3.1. Complaints 93 7.3.2. Adjudication 95 7.3.3. Conciliation 95 7.3.4. Appeals 97 7.4. Penal Provisions 98 7.4.1. Penal Provisions for Promoters 98 7.4.2. Penal Provisions for Real Estate Agents 98 7.4.3. Penal Provisions for Allottees 99 7.4.4. Offence by Companies 99 8. Due Diligence before Facilitating Sale of Property 100 8.1. Verify Promoter Identity and Project Details on MahaRERA Website 100 8.2. Title of Property 100 8.3. Building Approvals and Commencement Certificate 101 8.4. Status of Tax Payments 102 8.5. Litigations against the Project 102 8.6. Allotment Letter and Model Form of Agreement 102 8.7. MahaRERA Carpet Area 102 9. Sales Process, Forms and Agreements 103 9.1. Allotment Letter 103 9.1.1. Model Allotment Letter 103 9.2. Model Form of Agreement 9.3. Applicability of TDS to purchase of apartment and brokerage payment. 113 9.4. Basic Knowledge of Home and Mortgage Loan 115 10. Real Estate Calculations 116 10.1. Taxation/Government Fees and Levies 116 10.1.1. Goods and Services Tax (GST) 116 10.1.2. Tax Deduction at Source (TDS) 117 10.1.3. Registration charge 117 10.1.4. Stamp duty 117 10.1.5. External Development Charges 117 10.2. Cost Sheet Sample and Component details 117 MahaRERA Real Estate Agent Handbook 1. Course Orientation 1.1. INTRODUCTION Real Estate Agents are essential element of Real Estate Sector, who connect Allottees and Promoters and facilitate most of the real estate transactions. Recognising their importance, Real Estate (Regulation and Development) Act, 2016 recognises them as one of the key stakeholders along with Allottees and Promoters. Accordingly, every real estate agent is required to be registered with MahaRERA for engaging in any activity relating to marketing, advertising, sale or purchase of any apartments. Real Estate Agents are the important stakeholders for the allottees and hence should have comprehensive understanding of the real estate transaction in order to guide the allottees and prevent disputes. Therefore, in order to bring a certain level of consistency in the practices of real estate agents and enhance knowledge and awareness of regulatory framework and practices, MahaRERA has introduced Capacity Building and Certification Program for Real Estate Agents. 1.2. COURSE OBJECTIVES & OUTCOMES This course is primarily designed to impart Knowledge and guidance to real estate agents on following: 1) Comprehensive Understanding of RERA Law and its application from Real Estate Agent Perspective 2) Understanding of MahaRERA and its functions 3) Understanding of all aspects of real estate fundamentals which will provide an overview of the real estate industry to maximize the level of knowledge, which will in return increase competency 4) Knowledge of the quantitative concepts associated with the real estate industry 5) Ability to perform as a real estate professional once the registration has been successfully completed by conveying legal and ethical considerations that will maximize knowledge of key , components of the real estate industry. 6) Enable the Real Estate Agent to appear for the online certification. This training handbook is a guide for Real Estate Agents. Considering their crucial role in the real estate business, it is necessary for them to understand Real Estate (Regulation and Development) Act 2016 deeply, so that they carry on their profession with full knowledge of the things and with confidence. 7 MahaRERA Real Estate Agent Handbook 2. Introduction to Real Estate (Regulation and Development) Act 2016 (RERA) Real Estate Sector is one of the most crucial sectors driving economic growth and providing employment to citizens of India. Yet, it has traditionally been plagued with numerous issues including opaque practices and information asymmetry. Real Estate transactions were lopsided and leaned heavily in favour of developers. Delays were rampant and homebuyers usually did not have a reliable forum to address their grievances. Below are the issues which were adversely impacting the sector: In order to overcome these challenges, the Central Government brought in the Real Estate (Regulation and Development) Act, 2016, (RERA) to be made fully operational with effect from May 1, 2017. Some sections of the Act were notified from 1st May 2016 and all the State Governments were given one year to formulate their own Rules and Regulations and set up the Authority, to implement the Act from 1st May 2017. Information asymmetry to the citizen No Proper Forum for Grievance Edressal for Consumers Real Estate Transactions were lopsided and heavily in favour of developers Sundry Abuses and Malpractices Huge Delays in Real Estate Projects completion 2.1. PREAMBLE, PURPOSE AND OBJECTIVES The second title of any Act contains the purpose and objectives of that Act. The second title of the RERA Act is as under: “An Act to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sector and to ensure sale of plot, apartment or building, as the case may be, or sale of real estate project, in an efficient and transparent manner and to protect the interest of consumers in the real estate sector and to establish an adjudicating mechanism for speedy dispute redressal and also to establish the Appellate Tribunal to hear appeals from the decisions, directions or orders of the Real Estate Regulatory Authority and the Adjudicating Officer and for matters connected therewith or incidental thereto.” A little analysis of the long title will make it clear why the Act was made: (a) The Act is for establishing an authority namely Real Estate Regulatory Authority. For any sector to work efficiently, it is necessary to have a regulatory authority and a set of rules for all the stakeholders. This Act provides the same for Real Estate Sector. The purpose of this Authority 8 MahaRERA Real Estate Agent Handbook is regulation and promotion of real estate sector. It may be noted that if there is regulation then the sector will function in an orderly manner which is necessary for its growth. Hence promotion of a healthy real estate sector is an objective of the Act. (b) The long title further states that the purpose of the Authority will be to ensure sale of plot, apartment or building or sale of real estate project in an efficient and transparent manner. Please note that these are the items which the Act covers and aims at ensuring that all dealings in them shall be in efficient and transparent manner (no hidden dealing). (c) The long title further states that the Act aims at protecting the interests of consumers in the sector, which is done by providing a mechanism to redress the disputes. It also provides for an Appellate Tribunal over the decisions of the Authority or its officers. Therefore, The Act aims at protecting the rights and interests of consumers and promotion of uniformity and standardization of business practices and transactions in the real estate sector. It attempts to balance the interests of allottees, real estate agents and promoters by imposing certain responsibilities on all. It seeks to establish symmetry of information between the promoter and allottee, transparency of contractual conditions, set minimum standards of accountability and a fast-track dispute resolution mechanism. The Act is applicable across India and its provisions are common to all the States. However, as the subject of regulation over the real estate sector falls under the State List, the scheme of the Act is that every State has its own Real Estate Regulatory Authority. This Authority in every State along with the State Government, makes its own rules and regulations for the working of the Authority and implementation of the provisions of the Act. 2.2. SECTIONS OF THE ACT The Real Estate (Regulation and Development) Act 2016 has been divided into 10 CHAPTERS and categorized into 92 SECTIONS. The Act starts with the Preamble, provides title, extent and commencement, registration of real estate projects and real estate agents, functions and duties of promoter, rights and duties of allottees, about Real Estate Regulatory Authority, Central Advisory Council, Real Estate Appellate Tribunal, various offences, penalties, and adjudication, about finances, accounts, audits, and reports and other miscellaneous provisions. Below is the outline of the Act 2016 in tabular form- 9 MahaRERA Real Estate Agent Handbook 2.3. KEY COMPONENTS OF THE ACT The key components of Real Estate (Regulation and Development) Act, 2016 are as follows: 1. Real Estate Regulatory Authority and Appellate Tribunal Under this Act, appropriate government has to establish Real Estate Regulatory Authority for regulation and promotion of the real estate sector in the State / UTs. The Authority shall strive to facilitate the growth and promotion of a healthy, transparent, efficient and competitive real estate sector while protecting the interest of allottees, promoters and real estate agents. The authority shall also establish an adjudicating mechanism for speedy dispute redressal regarding registered real estate projects. The key responsibilities of the Authority shall be as follows: Ensuring Disclosures of Real Estate Projects by Promoters Real Estate Projects Registration Real Estate Agents Registration Complaints Redressal Provide recommendations to appropriate Government on in matters relating to the development & promotion of real estate sector The appropriate Government shall also establish Appellate Tribunal to hear appeals from the decisions, directions or orders of the Real Estate Regulatory Authority. Any person aggrieved by any direction or decision or order made by the Authority or by an adjudicating officer may file an appeal before the Appellate Tribunal and the appeal shall be dealt with by it as expeditiously as possible and endeavour shall be made by it to dispose of the appeal within a period of sixty days. 2. Real Estate Projects Registration All commercial and residential real estate projects will have to register except in projects where area of land proposed to be developed does not exceed five hundred square meters number of apartments proposed to be developed does not exceed eight inclusive of all phases promoter has received completion certificate for a real estate project prior to commencement of this Act for the purpose of renovation or repair or re-development which does not involve marketing, advertising selling or new allotment of any apartment, plot or building, as the case may be, under the real estate project No promoter shall advertise, market, book, sell or offer for sale, or invite persons to purchase in any manner any plot, apartment or building, as the case may be, in any real estate project or part of it, in any planning area within Maharashtra, without registering the real estate project with the Real Estate Regulatory Authority. Promoter of ongoing real estate projects, in which all buildings as per sanctioned plan have not received Completion Certificate, shall also be required to be registered for such phase of the project which consists of buildings not having occupation or completion certificate. If any promoter fails to register as per Act, he shall be liable to a penalty which may extend up to ten per cent of the estimated cost of the real estate project. On continued violation, he shall be punishable with imprisonment for a term which may extend up to three years or with fine which may extend up to a further ten per cent of the estimated cost of the real estate project, or with both. Apart from Registration, the promoters shall be required to provide quarterly updates on the status of the project to the authority. 10 MahaRERA Real Estate Agent Handbook 3. Real Estate Agents Registration 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. If any real estate agent fails to register, he shall be liable to a penalty of ten thousand rupees for every day during which such default continues, which may cumulatively extend up to five per cent of the cost of plot, apartment or buildings, as the case may be, of the real estate project, for which the sale or purchase has been facilitated 4. Filing of complaints Any aggrieved person may file a complaint with the Authority or the adjudicating officer, as the case may be, with respect to any registered real estate project, for any violation or contravention of the provisions of this Act or the rules and regulations made there under. The Authority shall establish an adjudicating mechanism for speedy redressal of such complaints. Any person aggrieved by any direction or decision or order made by Authority or by an adjudicating officer may file an appeal before the Appellate Tribunal Any person aggrieved by any decision or order of the Appellate Tribunal, may file an appeal to the High Court 11 MahaRERA Real Estate Agent Handbook 3. Maharashtra Real Estate Regulatory Authority (MahaRERA) Government of Maharashtra established Maharashtra Real Estate Regulatory Authority (MahaRERA), vide Notification No. 23 dated 8 March 2017, for regulation and promotion of real estate sector in the State. Subsequently, MahaRERA was also made the regulatory authority for Daman & Diu and Dadra Nagar Haveli. Government of Maharashtra further promulgated the following rules detailing the functioning of Authority: Maharashtra Real Estate (Registration of Real Estate Projects, Registration of Real Estate Agents, Rates of Interest and Disclosures on Website) Rules, 2017 Maharashtra Real Estate Regulatory Authority, Chairperson, Members, Officers and Other Employees (Appointment and Service Conditions) Rules, 2017 Maharashtra Real Estate (Recovery of Interest, Penalty, Compensation, Fine payable, Forms of Complaints and Appeal, etc.) Rules, 2017 Maharashtra Real Estate Appellate Tribunal, (Members, Officers and Employees) (Appointment and Service Conditions) Rules, 2017 Maharashtra Real Estate Regulatory Authority (Form of Annual Statement of Accounts and Annual Report) Rules, 2017 Over the past years, Few Amendments have been notified for the aforementioned rules. All these rules with the concerned amendments are available on MahaRERA website. MahaRERA has notified the following regulations: Maharashtra Real Estate Regulatory Authority (General) Regulations 2017 Maharashtra Real Estate Regulatory Authority (Recruitment and Conditions of Service of Employees) Regulations, 2017 Maharashtra Real Estate Appellate Tribunal Regulations, 2019 Similarly, few amendments have been undertaken to the above mentioned regulations and they are available on MahaRERA website. 3.1. KEY PILLARS OF MAHARERA MahaRERA aims to transform the Real Estate Sector, leading it into an era of greater transparency and professionalism, wherein all stakeholders’ interests are protected and trust and confidence is established. MahaRERA endeavours to implement the MahaRERA Act in its letter and spirit, promoting transparency, accountability, financial discipline, customer centricity Accountability Transparency Compliance and compliance. Centricity Discipline Financial Citizen The above mentioned 5 traits of MahaRERA functioning, now form the pillars for completing MahaRERA registered projects and bridging the trust gap between the home buyers and the developers that had become the unfortunate legacy of the sector. Improve the perception of the sector among various stakeholders It lays thrust on following key pillars: Uniform Regulatory Environment 12 MahaRERA Real Estate Agent Handbook A. Transparency In order to transform Real Estate Sector, transparency in information and transactions is the first need that requires to be addressed. With this objective, MahaRERA ensures that maximum information is available for public view at its website including Information on Registered Projects, Registered Agents, Judgements, Orders etc. Details of all the Registered Projects are available online for citizens including: sanctioned plans, layout plans, along with specifications, approved by the competent authority Proposed Plan, Proposed Layout Plan of the whole project and Floor Space Index proposed to be consumed in the whole project, as proposed by the promoter Proposed Number of building(s) or wing(s) to be constructed and sanctioned number of the building(s) or wing(s). the stage wise time schedule of completion of the project, including the provisions for civic infrastructure like water, sanitation and electricity. quarterly update of the list of number and types of apartments or plots, as the case may be, booked quarterly update of the list of number of covered parking as well as list of number of garages for sale; quarterly update of the list of approvals taken and the approvals which are pending subsequent to commencement certificate, quarterly update of the status of the project; and such other information and documents as may be specified by the regulations made by MahaRERA. The advertisement or prospectus issued or published by the promoter shall mention prominently the website address of MahaRERA, wherein all details of the registered project have been entered and include the registration number obtained from the Authority The developer has to obtain consent of at least 2/3rd allottees for any major addition or alteration The developer cannot undertake cancellation of units in an arbitrary manner The developer has to deliver the project as per pre-defined time frame The developer cannot put out any advertisement of the project before registration with MahaRERA The developer has to obtain consent of at least 2/3rd allottees before transferring majority rights to any 3rd party The developer has to clearly define the number, type and carpet area of the apartment 13 MahaRERA Real Estate Agent Handbook B. Accountability Perhaps the greatest benefit that customers have is the reinforced trust in the real estate sector due to enforceability of accountability by the act. The act clearly details the roles of responsibilities of each of the stakeholders including promoters, allottees and agents and holds them accountable for contravention. In case of any unethical business practices by the developer: Every officer of the company, who was in charge or was responsible will be liable for the conduct of the company and deemed to be guilty Offence by an officer committed with the consent or connivance of any director, manager, secretary or other officer of the company, will also be guilty. C. Financial Discipline: The Act has introduced various pioneering initiatives for preventing funds diversion and ensuring audit of each Project. The Act strives to ensure greater financial discipline in the real estate sector. Some of its provisions are as follows: A promoter shall not accept more than ten per cent of the cost of the apartment, plot, or building as the case may be, as an advance payment or an application fee, from a person without first entering into a written agreement for sale with such person and register the said agreement for sale Seventy per cent of the amounts realized for the real estate project from the allottees, from time to time, shall be deposited in a separate account to be maintained in a scheduled bank to cover the cost of construction and the land cost and shall be used only for that purpose Withdrawal from such accounts shall be in proportion to the percentage of completion of the project, which shall be certified by an engineer, an architect and a chartered accountant in practice. Promoter to compensate buyer for any false or incorrect statement with full refund of property cost with interest Project Accounts to be audited within six months after the end of every financial year. Copy to be submitted to MahaRERA Provision for MahaRERA to freeze project bank account upon non-compliance Provision for stronger financial penalties for MahaRERA non-compliances 14 MahaRERA Real Estate Agent Handbook D. Customer Centricity One of the key pillars of the new regime is protecting the interests of allottees. MahaRERA aims at protecting the interests as well as establishing trust and confidence between all stakeholders of real estate sector. MahaRERA has brought focus to the treatment of the allottees in a fair and timely manner. Citizens shall be able to view, on MahaRERA website, all disclosures pertaining to registered projects. This shall enable data driven informed decision making. Promoter cannot make any additions and alterations in the sanctioned plans, layout plans and specifications and the nature of fixtures, fittings and amenities etc. without the previous consent of at least two-thirds of the allottees, other than the promoter, who have agreed to take apartments in such building. If the promoter fails to complete or is unable to give possession of an apartment, plot or building, in accordance with the terms of the agreement for sale, he shall be liable to pay interest for every month of delay. Further, in case the allottee wishes to withdraw from the project, without prejudice to any other remedy available, to return the amount received by him with interest Promoter to enable formation of Legal Entity like Cooperative Society, Company, Association, Federation etc. within three months from the date on which 51 per cent of the total number of allottees in such a building or a wing, have booked their apartment. Promoter shall execute a registered conveyance deed in favour of the allottee within three months from date of issue of occupancy certificate. E. Compliance All Ba sic Approvals in place before RERA Registration and these approvals in public forum Registration of agents/brokers with RERA portal Project registration with RERA on portal One (1) year extension in case of delay in Real Estate projects Speedy Dispute resolution at RERA and Appellate Tribunal Developers to share details of projects launched in the last 5 years with status and reason for the delay with RERA Annual audit of project accounts by a Chartered Accountant Conveyance deed for common areas in favour of Association of allottees Separate registration of different phases of a single project Mandatory registration of new and existing projects with RERA Authenticated copy of all approvals, to be given when applying for project registration with RERA commencement certificate, sanctioned plan, layout plan, specification, Plan of development work, proposed facilities, proforma allotment letter, agreement for sale and conveyance deed 15 MahaRERA Real Estate Agent Handbook 4. Understanding of MahaRERA Portal Maharashtra Real Estate Regulatory Authority (MahaRERA) has operationalized a web-based online system for the entire operations of MahaRERA. Accordingly, a web-based online system is established and MahaRERA is completely digital. The portal of the MahaRERA is https:// maharera.mahaonline.gov,. in Here are some of the features of the RERA portal for every stakeholder 1. Key Services for Real Estate Agent on MahaRERA Portal Real Estate Agent Registration Real Estate Agent Renewal Corrections View Real Estate Project Details Make a Complaint Search Orders / Judgements of Authority Search Projects / Agents / Complaints And so on 2. Key Services for Allottees on MahaRERA Portal View Details of All Real estate Registered Projects Make a Complaint Search Orders / Judgements / Warrant Details Search Projects / Agents / Complaints View Cause list Complaints against Non-registered Project View Projects on GIS View all complaints project wise and promoter wise And so on 3. Key Services for Promoters on MahaRERA Portal Project Registration Project Updates Project Corrections Project Extension Major Modifications Make a Complaint Search Orders / Judgements Download Forms & Formats And so on 4.1. VIRTUAL TOUR OF THE PORTAL Let’s look at the web portal’s home page or the landing page. A landing page is any web page that a visitor can land on that serves a single and focused purpose to let someone, know more about the organization and understand its services. Here is the landing page of the MahaRERA web portal. By default, it’s in Marathi, by clicking on the English tab, you can jump to the English version of the portal: 16 MahaRERA Real Estate Agent Handbook Here is the English version: Landing pages could be read in the 2 pages by rolling down the scroll bar to show other parts of the landing page and its content. PART 1: First it shows the Menu and the dashboard. A dashboard is a type of graphical user interface that often provides at-a-glance views of key performance indicators (KPIs). In another usage, “dashboard” is another name for “progress report” or “report” and is considered a form of data visualization. This is the Menu bar showing various options to look for the desired information. We will be looking at each option thoroughly with all the submenu options under each Menu head. 17 MahaRERA Real Estate Agent Handbook Below the Menu bar, you have a dashboard to show the KPI (Key Performance Indicators) like the Number of Projects registered, the Number of Agents registered, the Number of Complaints and Order passed. PART 2: This has a Welcome message about the MahaRERA portal on Left Hand Side. “What’s News” on the right will show all the latest Circulars / Notifications uploaded by RERA. You will also see the Monthly Cause List, Search Rulings and Judgements, Warrants issued against the cases, and ProjectWise complaints: 18 MahaRERA Real Estate Agent Handbook MONTHLY CAUSE LIST Monthly Cause List will show monthly complaints with the Complaint No, Project Registration No., Complainant Name, Respondent Name, Next Hearing Date, Stage of the cases. There are various benches for hearings and all such benches could be seen with the above information. This will help any stakeholder to visit see and decide its further course of action. Now, this information is in the public domain. Allottees, Agents, and Promoters can see the rulings on case to case basis and its proceedings. Real Estate Agents need to know the disputes of the project they intend to involve themselves in for sales. And the public at large can view any kind of dispute in the project they intend to invest in. This brings transparency to the real estate sector. SEARCH RULINGS/JUDGEMENTS Once you click on the ‘Search ruling Option’, you will the various search options like Complaint Number, MahaRERA Project Registration and others. For Advance search you have Division, District and Coram to filter and narrow down your search. WARRANT DETAILS Section 40 of the RERA Act allows issuance of warrants orders for recovering the unpaid amount from Promoters for incomplete projects under the supervision of MahaRERA. Further, the case is carried forward to the collectors for properties attachment, and then the recovered amount is paid to the MahaRERA / Allotees etc as the case maybe. These warrants will help the buyers to get their money back and the developers also from now onwards will emphasize completing the projects with proper funding. Warrant details show recovery warrants and the amount of dispute on the Project. It also has a summary and the project-wise or District wise details as shown below 19 MahaRERA Real Estate Agent Handbook TOTAL COMPLAINTS PROJECT WISE DIVISION / DISTRICT 20 MahaRERA Real Estate Agent Handbook TOTAL COMPLAINTS PROMOTER WISE DIVISION / DISTRICT The next detail on the landing page is total complaints promoter-wise. You can click on the district to check on the district-wise promoter’s list and the number of complaints against a particular promoter. TENDERS All the tenders issued by MahaRERA for procurement and hiring any services are listed in the Tenders list. Users can view these periodically to offer their services. 4.1.1. MAHARERA MENU BAR AND SUB MENUS Now let’s explore the Menu bar. We have seen the home page and now we will start seeing what is under each menu and sub-menu of the MahaRERA Portal: 21 MahaRERA Real Estate Agent Handbook Introduction Submenu provides brief background on MahaRERA, its establishment and key responsibilities. Organisation Structure: This submenu provides the organisation structure of MahaRERA as follows: Contact us provides the contact details of MahaRERA offices including helpdesk numbers and , email ids. Facilities : This submenu details various services being provided by MahaRERA to Promoters, Agents and Citizens Our Leadership: This lists the people governing the MahaRERA including leadership from the Government Leadership like Cabinet Minister for Housing, State Legislative Council & Minister of State(Housing), & Principal Secretary, Housing. It also includes MahaRERA Leadership like Chairman, MahaRERA, Members MahaRERA and Secretary, MahaRERA for smooth execution and implementation of RERA in Maharashtra. Media Gallery: This sub-menu provides photos and images of various important milestones of MahaRERA Right to Information: The details of Public Information Officers (PIOs) and Appellate Authorities (AAs) at MahaRERA are mentioned in a downloadable file in this option. It also lists the RTI published from time to time. Refer to the image below to see the RTI published. 22 MahaRERA Real Estate Agent Handbook This section also contains the MahaRERA Citizen Charter. B. DOWNLOADS Downloads is another important menu of the portal listing all the documents for Maharashtra, Daman & Diu & Dadar and Nagar Haveli available for downloads. The Maharashtra Submenu has nine sections as detailed below: 1. Act The 5 documents under Act submenu are listed on the above image and they are downloadable pdfs for detailed viewing of these acts. 1. The Real Estate (Regulation and Development) Act, 2016 2. Notification of Government of India regarding the commencement of Act dated 26th April 2016 3. GOI’s Real Estate Removal of Difficulties of Act Order dated 28th October 2016 4. GoM Notification for the establishment of Maharashtra Real Estate Regulatory Authority under section 20 of the Act dated 8th March 2017 5. Notification of Government of India regarding the commencement of Act dated 19.4.2017 23 MahaRERA Real Estate Agent Handbook 2. Rules, GRs and Circulars Government of Maharashtra Rules, GRs and Circulars issued w.r.t Real Estate ( Regulation and Development) Act 2016 are listed in this section. 3. Regulations: Regulations issued by Maharashtra Real Estate Regulatory Authority (MahaRERA) along with its amendments are listed in this section. 4. Rulings of MahaRERA: Rulings of MahaRERA are the same as shown in Portal Part 2. You will see all Rulings / Judgements with various search options like Complaint Number, MahaRERA Project Registration, and others. For Advance search, you have Division, District, and Coram to filter to narrow down your search. There are 3 options to look under this section i.e., Rulings of MahaRERA, Judgements by Adjudicating Officers and Non-Registration Rulings 24 MahaRERA Real Estate Agent Handbook 5. FAQs MahaRERA has listed down Frequently Asked Questions (FAQs) for various stakeholders in this section. 6. Suo motu orders by MahaRERA MahaRERA has often taken up cases ‘suo moto’. This means they take up cases by their notice, without any petition being filed, or a matter being brought before them by any complainant. ‘Suo Motu’ is used where a government agency especially courts acts on its cognizance. Judiciary takes up a matter on its own on grounds of violation of law, to maintain public order, to prevent the gross constitutional violation, and to remedy grave injustice. This section contains orders of various Suo-moto cases taken by authority. 7. Annual Report As RERA is for transparency, all its Annual Reports are available for download. 8. Compendium of Best Practices This Section contains compendium of Best Practices at MahaRERA. It is a downloadable pdf. 9. Daman & Diu Similarly, Daman & Diu and Dadra Nagar Haveli Sub Menus have Acts, Rulings, and Circulars downloadable documents as shown below in the images: 25 MahaRERA Real Estate Agent Handbook 10. New Forms New Forms: Last option under download has the latest Forms 1 to 5 and 2A for the promoters: C. SKILLING INITIATIVE To ensure registered projects get completed, free from all structural defects or any other defects in workmanship, MahaRERA took the initiative of skilling the workforce and facilitating the growth and promotion of a healthy, transparent, efficient, and competitive real estate sector. All details and progress of the skilling initiative is provided in this section. D. REGISTRATION The next important Menu is Registration: 26 MahaRERA Real Estate Agent Handbook 1. Registered Projects Real Estate Agents should be in the know of various facts of the project, whose sale they are facilitating, including whether its registration is valid or revoked of lapsed, etc. Under this sub-menu, Real Estate Agents and General Public can view all the details of MahaRERA Registered Projects. Apart from this, we can also view the list of Real estate agents listed by Promoter for facilitating sale in their projects. Let’s explore more on Registered Projects. Here we have taken an example of Rustomjee Developer. This will list all the projects under the promotor name Rustomjee or Project name starting Rustomjee. Other information to see is the Last Modified Date, View Documents, View Applications, and the certificates issued for the projects: 27 MahaRERA Real Estate Agent Handbook Let’s see the View Detail Option for one of the Projects. The page will show the Organization name, Type of Organization, Address and Contact Details. Other information on the page is the experience of the promoter, promotors’ details, Project status, and the proposed date of completion. Member information is about the Managing Director, Directors, Partner, or the Authorised Signatory involved in the development of the Project. You can also view their photos in this option. Further on the page, you will see the Project details like Project addresses, CTS numbers, and others. This has quite detailed information about the boundaries and litigation information, Development works, Building Details, Apartment Types and tasks involved in the projects and their completion status or work in progress. Other information like Car Parks, Development Work Progress, Building Details, number of Apartments and their sizes. 28 MahaRERA Real Estate Agent Handbook 29 MahaRERA Real Estate Agent Handbook This section will entail the professionals involved in the Project like the Engineers, architects, Contractors, and Agents involved in selling the project. Here Allotee is ensured about the people involved in the projects and Agents appointed by the Promotors to deal with. Past Litigation details and documents to view are also available for Agents ad Allotees to understand the outcomes and judgments on these litigations. As you roll down this page, you can also see all the documents uploaded for the projects with the Architect’s name, Title Details, Building Plan, Encumbrances and Declarations and Certificates. 30 MahaRERA Real Estate Agent Handbook 2. Registered Agents - Now let’s look at the Registered Agents and their information on the MahaRERA portal by the name Rohan. It will show all the agents with the name Rohan or their Organizational name starting with Rohan. You can view details, their applications and the certificates from this page. Apart from the contact details it also entails some documents like letterhead, Rubber Stamp, Receipt copy to use for his services and any criminal data. 3. Revoked Projects - Now let’s look at the Revoked Projects i.e., Projects where their registration has been withdrawn. If you just click the search option with the given project or promotor details, it will list all such projects where revocation has been done. 31 MahaRERA Real Estate Agent Handbook You can view the details, applications, revocation certificates and the Directors’ details by clicking on the icons above. Here is the example of one of the revocation certificates and the same could be downloaded. 32 MahaRERA Real Estate Agent Handbook 5. Change of Promoter list the projects where there is a change of Promoters with the consent of 2/3rd of allottees and others will have as per the statutory orders/operation of law. 6. Revoked projects are listed where registered projects have been cancelled and orders have been revoked 7. Lapsed Projects: The Validity of MahaRERA Registration for the following Projects has expired. The promoter shall not advertise, market, book, sell or offer for sale, or invite persons to purchase in any manner any plot, apartment, or building, as the case may be, in any of these projects. 8. Complaints - Under Complaints, you have two options to choose either Project wise or Promoter Wise and you will see this information updated about the complaints. E. INFORM NON-REGISTRATION MahaRERA welcomes you to file source complaint (SC) about a Real Estate Project, under construction but not registered with MahaRERA. Anyone who feels, a particular real estate project, ought to have been registered under MahaRERA, but is not registered, can give MahaRERA information in this section. MahaRERA shall accordingly take necessary action on this complaint. You will be able to view the status of the MahaRERA investigation and its progress and the rulings for such Non-Registered Projects 33 MahaRERA Real Estate Agent Handbook F. ONLINE APPLICATION If you are a new user and wish to create an account in the MahaRERA portal, using the New Registration option you can do it here. You have to register using any one of the three options Select User Type: * Promoter, Real Estate Agent, or Complainant. Registration as a Promoter or Real Estate Agent will be seen in detail in the modules of Promoters & Real Estate Agent Registration Modules respectively. This section also has detailed user manuals and guidelines for navigating through the online application. It’s better to go through all the FAQs and download the user manual before proceeding. G. APPELLATE TRIBUNAL Maharashtra Real Estate Appellate Tribunal has been established under section 43 of the Act. Any person aggrieved by any decision or order of the Authority, may, file an appeal to the Appellate Tribunal. In this section, appellant may file online appeal, view causelist, view orders, circulars and so on. 34 MahaRERA Real Estate Agent Handbook H. CONCILIATION FORUM As per Section 32 (g) of the Real Estate (Regulation and Development) Act 2016, Maharashtra Real Estate Regulatory Authority must take measures to facilitate amicable conciliation of disputes between the promoters and the allottees through dispute settlement forums set up by the consumer or promoter associations. With this objective, MahaRERA established MahaRERA Conciliation and Dispute Resolution Forum that shall facilitate resolution of disputes amicably, thereby saving cost and time of litigation to parties and State, promoting greater public satisfaction with legal system and dispute resolution. This forum acts as a mediator between two parties and as an alternative dispute resolution mechanism. Maharashtra is the first state to implement such a conciliation forum for dispute resolution. This section details the Procedure for applying for conciliation, list of conciliators, cause list and so on. I. STATISTICS The last menu is Statistics that shows the analytical figures on the MahaRERA Portal like the number of projects registered, the number of agents registered, and other details of MahaRERA. 35 MahaRERA Real Estate Agent Handbook You can view more such details under Statistics and they are updated on real time basis. 36 MahaRERA Real Estate Agent Handbook 5. Real Estate Agent Registration and Responsibilities 5.1. Who is Real Estate Agent as per RERA? As per the Section 2 (zm) of the Act, “real estate agent” means any person, who negotiates or acts on behalf of one person in a transaction of transfer of his plot, apartment or building, as the case may be, in a real estate project, by way of sale, with another person or transfer of plot, apartment or building, as the case may be, of any other person to him and receives remuneration or fees or any other charges for his services whether as a commission or otherwise and includes a person who introduces, through any medium, prospective buyers and sellers to each other for negotiation for sale or purchase of plot, apartment or building, as the case may be, and includes property dealers, brokers, middlemen by whatever name called. Therefore, any person or organisation who fits in above definition is considered to be a Real Estate Agent under RERA and accordingly has to be registered with the authority. 5.2. Registration of Real Estate Agents as per Section 9 of the Act Section 9 of the Act, details registration requirements and process for Real Estate Agent. The provisions under Section 9 are: “9(1) 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, being the part of the real estate project registered under section 3, being sold by the promoter in any planning area, without obtaining registration under this section.” This is a strict stipulation that an agent should not be involved in any sale or purchase either directly or indirectly with any project (plot or building or apartment) unless the agent has been registered with concerned RERA. “9(2) Every real estate agent shall make an application to the Authority for registration in such form, manner, within such time and accompanied by such fee and documents as may be prescribed.” In order to register with RERA, Real Estate Agents should apply as per the form, submit all required documents and pay fees as prescribed. “9(3) The Authority shall, within such period, in such manner and upon satisfying itself of the fulfilment of such conditions, as may be prescribed: a. grant a single registration to the real estate agent for the entire State of Union territory, as the case may be; b. reject the application for reasons to be recorded in writing, if such application does not conform to the provisions of the Act or the rules or regulations made thereunder:” Once the application is received, the Authority will verify and confirm that the agent is bonafide and then issue a registration number as applicable. This registration will enable the agent to transact within 37 MahaRERA Real Estate Agent Handbook the entire State of Maharashtra. In case the application is rejected, the reason for rejecting will be provided in writing to the agent by the Authority. The applications can be rejected only if they do not meet the criteria laid out under the Act. “Provided that no application shall be rejected unless the applicant has been given an opportunity of being heard in the matter.” Before the application is rejected, the agent will be given a chance to explain any non -conformance. Only if the agent is unable to provide the required explanations will the application be rejected. “9(4) Whereon the completion of the period specified under sub-section (3), if the applicant does not receive any communication about the deficiencies in his application or the rejection of his application, he shall be deemed to have been registered.” In case the agent does not get any rejection intimation within the time period for approval, then it may be understood that the agent’s application is deemed to have been registered. “9(5) Every real estate agent who is registered as per the provisions of this Act or the rules and regulations made thereunder, shall be granted a registration number by the Authority, which shall be quoted by the real estate agent in every sale facilitated by him under this Act.” Every successful application is given a unique registration number. The agent has to quote this registration number in every transaction. “9(6) Every registration shall be valid for such period as may be prescribed and shall be renewable for a period in such manner and on payment of such fee as may be prescribed.” The agent registrations have a time validity of five years and should be renewed. “9(7) Where any real estate agent who has been granted registration under this Act commits breach of any of the conditions thereof or any other terms and conditions specified under this Act or any rules or regulations made thereunder, or where the Authority is satisfied that such registration has been secured by the real estate agent through misrepresentation or fraud, the Authority may, without prejudice to any other provisions under this Act, revoke the registration or suspend the same for such period as it thinks fit: Provided that no such revocation or suspension shall be made by the Authority unless an opportunity of being heard has been given to the real estate agent.” Post the successful agent registration and in case it has been discovered that the agent had given false information like false documents etc. or if there has been any violation of the provisions of the Act by the agent, then the agent’s registration can be revoked or suspended by the authority. However, the agent will be given an opportunity to clarify before the registration is revoked or suspended. 5.3. Type of Real Estate Agents MahaRERA has identified two categories of Real Estate Agents, mainly for Registration perspective: Individuals Other than Individuals (Company, Partnership, Proprietorship, Society, Others) Who is an individual real estate agent? 1. A person carrying out the business of Real Estate Agent in his own name and having no employee. 2. This individual is responsible for the real estate transaction right from sourcing leads, prospecting, viewing, closing deals and finally obtaining the 38 MahaRERA Real Estate Agent Handbook brokerage. 3. This individual has registered with his name appearing on his legal documentation 4. Certificate of Registration issued by MahaRERA will be on his personal name, as shown in the documents Who is a non-Individual real estate agent? 1. Person/s carrying out business in his/her organisation name be it any kind - Proprietorship, Partnership, Company, Society, Others. 2. The business is registered under the name of the organisation. 3. There may be one employee or more working in different roles taking care of the marketing, sales, viewing, legal documentation, accounts etc. 4. Certificate of Registration issued by MahaRERA will be on the name of the organisation. Why is this differentiation important? The organisation is liable for all consequences of each employees’ actions, representation etc. The organisation is liable for the code of conduct of each of his employee. All communication from the organisation’s employees to any clients have to carry the MahaRERA Registration number clearly. 5.4. Registration Application and Process Rule 11 and 12 of Maharashtra Real Estate (Regulation and Development) (Registration of real estate projects, Registration of real estate agents, rates of interest and disclosures on website) Rules, 2017 detail out the process for Application for Registration by the real estate agent and Grant of Registration to the real estate agent. It is as follows: “11(1) Every real estate agent required to be registered as per sub-section (2) of section 9 shall make an application in writing, - in case of registered real estate projects, forthwith and in any case prior to engaging in any activity relating to marketing, advertising sale or purchase of any apartments.” Real Estate Agents have to mandatorily register themselves before engaging in any activity relating to marketing, advertising or sale of any apartments. “11(2) The application shall be in Form ‘G’. The following documents shall also be submitted along with the application, namely: - a. brief details of his enterprise including its name, registered address of place of business, type of enterprise (proprietorship firm, societies, partnership, company etc.); Registration numbers, PAN, Aadhar Card No, DIN, as the case may be, under which returns are required to be filed with statutory authority; b. particulars of registration obtained under other laws, and rules and regulations, as the case may be, along with the authenticated copy of partnership deeds, memorandum of association, articles of association, etc.; c. recent colour photographs of the real estate agent, if an individual and of all the partners, directors, trustees, etc. including persons in service or assigned work expected on a real estate agent, in case of other entities; d. income-tax returns for last three financial years preceding the application or in case the applicant was exempted from filing returns in any of the three-year preceding the application, a declaration to such effect; e. authenticated copy of the proof of address of the principal place of business, number of branch offices if any along with contact details including Telephone Numbers, Fax Numbers and email 39 MahaRERA Real Estate Agent Handbook address; and f. details (if any) of all real estate projects and their promoters on whose behalf he has acted as real estate agent in preceding five years; g. details of all civil or criminal cases pending against him if an individual or any of the partners, directors, trustees etc. in case of other entities; h. authenticated copies of all letter heads; rubber stamp images, acknowledgement receipts proposed to be used by the real estate agent; i. such other information and documents, as may be specified by regulations.” This Rule details the various information to be provided by the Real Estate Agent in the application along with supporting documents. “11(3) (i) sum of rupees ten thousand, in case of applicant being an individual; and (ii) rupees one lakh, in case of the applicant being other than an individual.” 11(4) The fees for registration of real estate project shall be paid through NEFT or RTGS System or any other digital transaction mode.” This section details the application fees to be paid for real estate agent registration and mode of payment. “11(5) The real estate agent upon being engaged by the promoter under clause (f ) of sub-section (2) of section 4 for a real estate project shall maintain and preserve books of accounts, records and documents separately for each such real estate project.” When promoters engage real estate agents for marketing and sale of projects, they are required to maintain separate records of all financial transactions for each project. “12 (1) The Authority, may, within 30 days of receipt of application, satisfying itself of the fulfilment of such conditions, a. accept the application and grant registration certificate to the real estate agent; b. upon the registration of a real estate agent as per section 9 read with sub-rule (1) of Rule 11, the Authority shall issue a registration certificate with a registration number in Form ‘H’.” On scrutiny and acceptance of the Registration application by authority, Registration Certificate shall be issued by the Authority. Each Registration certificate shall contain unique registration number. “12 (2) In case of rejection of the application as per section 9 or the rules or regulations made there under, the Authority shall, after recording the reasons in writing in form the applicant in Form ‘I’: Provided that, no application for registration of a real estate agent shall be rejected unless the applicant has been given an opportunity of being heard in the matter by the Authority.” In case of rejection of Registration Application by the Authority, the reasons for the same shall be provided in writing by the authority. Further, no application shall be rejected without giving an 40 MahaRERA Real Estate Agent Handbook opportunity of being heard to the Real Estate Agent. “12 (3) (a) On completion of period as indicated in sub-rule (1) above, the Authority shall, if the application is not rejected, provide registration number to the applicant within seven days; (b) if the authority fails to issue any communication about the deficiencies in his application, the application shall be deemed to have been granted and the applicant shall be deemed to have been registered and the authority shall issue a registration number to such applicant accordingly”. This section enables deemed registration for Real Estate Agents across Maharashtra. “12 (4) The registration granted under this rule shall be valid for a period of five years:” The validity of Registration for Real Estate Agents is five years. Agents are required to renew their registration on completion of this period. “Explanation. - The public authorities established under Special Local Laws which may sell Apartments or Buildings or Plot under any real estate project through Public Lottery as per their Rules or Regulations shall not be required to be registered as real estate agent, under these rules.” This clause exempts public authorities from registration as real estate agent. 5.5. Renewal of Registration of Real Estate Agents The Rules referred above stipulates that the validity of registration of Real Estate Agents is five years. The agents are required to renew their registration on completion of this period. The process for renewal of Registration of Real Estate Agent is detailed in Rule 13 of Maharashtra Real Estate (Regulation and Development) (Registration of real estate projects, Registration of real estate agents, rates of interest and disclosures on website) Rules, 2017. “13 (1) A real estate agent to whom registration has been granted under section 9 may, make an application for renewal of his registration, at least sixty days prior to the expiry of the registration. The application shall be in Form ‘J’ and shall be accompanied with the same fees as are applicable in case of new registration, under these rules.” This section highlights that the process for renewal of real estate agent registration may commence, atleast sixty days prior to expiry of registration. The renewal application and fees shall be as prescribed. “13 (2) The real estate agent shall also submit all the updated documents set out in clauses (a) to (i) of sub-rule (2) of rule 11 at the time of application for renewal. In case of renewal of registration, the authority shall inform the real estate agent about the same in Form ‘K’ and in case of rejection of the application for renewal of registration the authority, shall inform the real estate agent in Form ‘I’: 41 MahaRERA Real Estate Agent Handbook Provided that, no application for renewal of registration shall be rejected unless the applicant has been given an opportunity of being heard in the matter.” This section details the required documents to be submitted for renewal. On successful scrutiny, Renewal certificate shall be issued by authority to Real Estate Agent. In case of rejection, Agent shall be given an opportunity to be heard before final rejection. “13 (3) The renewal of registration of the real estate agent shall be granted provided that the real estate agent continues to comply with the provisions and the rules and regulations made there under.” The agent’s registration will be renewed only if the agent continues to follow all the provisions, rules and regulations under the Act.. “13 (4) The renewal granted of registrations to a real estate agent under this rule shall also be valid for a period of five years from the date of its renewal.” The agent registration once renewed will be valid for 5 years from the date of renewal. 5.6. Functions of Real Estate Agents As Real Estate Agents are important stakeholders, the Act and the rules list important functions and obligations of Real Estate Agents, which every agent has to comply with. (i) Functions of the Real Estate Agents as per Section 10 of the Act: “10 Every real estate agent registered under section 9 shall— (a) not 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, being sold by the promoter in any planning area, which is not registered with the Authority;” Every Real Estate Agent has to ensure that they facilitate sale / marketing / advertisement of only those projects that are registered with MahaRERA. (b) maintain and preserve such books of account, records and documents as may prescribed;” Every Real Estate agent has to maintain books of account and record of all transaction facilitated for individual projects separately. (c) not involve himself in any unfair trade practices, namely:— (i) the practice of making any statement, whether orally or in writing or by visible representation which— (A) falsely represents that the services are of a particular standard or grade; (B) represents that the promoter or himself has approval or affiliation which such promoter or himself does not have; (C) makes a false or misleading representation concerning the services; (ii) permitting the publication of any advertisement whether in any newspaper or otherwise of services that are not intended to be offered.” Every Real Estate Agent should ensure that they are not involved in unfair trade practices including any kind of misrepresentation in oral or written form. They shouldn’t falsely represent or advertise services that are not offered by the promoter. (d) facilitate the possession of all the information and documents, as the allottee, is entitled to, at the time of booking of any plot, apartment or building, as the case may be;” Real Estate Agent should ensure that Allottee has all the concerned information and documents, for informed decision making, at the time of booking. 42 MahaRERA Real Estate Agent Handbook (e) discharge such other functions as may be prescribed.” Real Estate Agents should discharge all such functions and obligations as prescribed by the Authority. (ii) Obligations of registered real estate agents as per Rule 14 Rule 14 of Maharashtra Real Estate (Regulation and Development) (Registration of real estate projects, Registration of real estate agents, rates of interest and disclosures on website) Rules, 2017 prescribe few obligations for the registered real estate agents as follows: “14 (1) Every registered real estate agent shall prominently display number of his Registration Certificate at the principal place of business and at its branch offices.” Every agent must prominently display its registration number at its principal office and all branches. “14 (2) Every registered real estate agent shall quote his number of their registration all the documents relating to advertisement, marketing, selling or purchase issued by the real estate agent along with the number of registration certificate of the real estate project.” Further, it is important for every real estate agent to clearly display his/her registration number in any marketing collateral he/she develops. (iii) Maintenance and preservation and production of books of accounts, records and documents as per Rule 16 Rule 16 of Maharashtra Real Estate (Regulation and Development) (Registration of real estate projects, Registration of real estate agents, rates of interest and disclosures on website) Rules, 2017 states that: “16. Every registered real estate agent shall maintain and preserve such books of accounts, records and documents as he may be required in accordance with the provisions of the Income Tax Act, 1961 or the Companies Act, 2013 or under any other law applicable for the time being in force or rules and regulations framed there under and will be required to produce them for inspection if so needed for grant or renewal of the registration.” It is important for the agents to keep all financial and legal records of transactions diligently. These records may be called for inspection by Authority during renewal on enquiry. (iv) Other functions of a real estate agent as per Rule 17 Rule 17 of Maharashtra Real Estate (Regulation and Development) (Registration of real estate projects, Registration of real estate agents, rates of interest and disclosures on website) Rules, 2017 states that: “17. The real estate agent shall provide assistance to enable the allottee and promoter of each real estate project, to exercise their respective rights and fulfil their respective obligations at the time of marketing and selling, purchase and sale of any plot, apartment or building, as the case may be and not involve himself in any unfair trade practices, namely: - 43 MahaRERA Real Estate Agent Handbook (i) making any statement, whether orally or in writing or by visible representation which- a. falsely or knowingly represents that services or amenities are of a particular standard or grade. b. represents that the Promoter or himself has approval or affiliation which such promoter or himself does not have; c. makes a false or misleading representation concerning the services which the promoter does not have (ii) permitting the publication of any advertisement whether in any newspaper or other media, of services that are not intended to be offered by the promoter. (iii) facilitate the possession of all the information and documents, as the allottee, is entitled to, at the time of booking of any plot, apartment or building or as the case may be; (iv) discharge such other functions as prescribed by the regulations of the Authority.” This Rule clearly emphasizes the importance of Real Estate Agent in any transaction. Firstly, Agent assists the allottees by empowering them with all necessary information and knowledge to make informed decisions. Secondly, they also assist the developers in fulfilling their respective obligations. In order to implement its obligations, agent must ensure that it doesn’t indulge in any unfair trade practices. 5.7. Revocation of Registration of Real Estate Agents Rule 15 of Maharashtra Real Estate (Regulation and Development) (Registration of real estate projects, Registration of real estate agents, rates of interest and disclosures on website) Rules, 2017 details the process for revocation of registration of real estate agent and consequence of it thereafter. “15 (1) Where any real estate agent who has been granted registration certificate number commits breach of any terms and conditions specified under these rules or regulations made there under, or where the Authority is satisfied that such registration has been secured by the real estate agent through misrepresentation or fraud, the Authority may, without prejudice to any other provisions under the Act, either suo-motu or on an application or complaint from the promoter or allottee or revoke the registration or suspend the same for such period as the Authority thinks fit and inform all the promoters: Provided that, no such revocation or suspension of registration shall be made by the Authority unless an opportunity of being heard has been given to the real estate agent. (2) Where the Authority revokes the registration it shall intimate about the same to the concerned real estate agent in Form ‘I’: Provided that, on the revocation of the registration by the Authority of any real estate agent; fresh application for grant of registration cannot be made again within a period of six months by such real estate agent” As per Rule 15, if the Authority comes to know that the agent has acted in contravention to any provision of Act, Rules or Regulations or provided false information, then the Authority, either acting on a complaint or on its own, can revoke the agent’s registration and disallow him/her from transacting. Once the registration has been revoked, the agent cannot make any application for registration for atleast six months. 44 MahaRERA Real Estate Agent Handbook 5.8. Step – by- Step Guidance for Agent Registration on MahaRERA Web Portal 5.8.1. Individual Agents 1. Open MAHARERA Web portal from below link and Click On Online Application Tab:- https:// maharera.mahaonline.gov.in/ This is the landing (Main) page where we begin the registration process 2. Click on New Registration Button. In this page we enter our login and password 3. Create New Account by following the steps below:- a. Select Real Estate Agent in User Type. 45 MahaRERA Real Estate Agent Handbook b. Select State as Maharashtra c. Give User Name, Password, Confirm Password, Mobile Number and Email ID. d. Finally fill up the Captcha asked on Login Page and click on Create User Button. In this page we complete the main details to create our user account 4.Once User is created it will ask you to verify it by sending you the activation link to your email. a. Please Click on Activation link and Confirmation message will pop up. Click OK on Message Box. This is an email we receive to confirm registration. The email id is the same you use when creating the account. 46 MahaRERA Real Estate Agent Handbook This is the message you receive that confirms you have created an account successfully. 5.Now Login into the Account by giving your credentials and Captcha provided on page. This is the login screen where you input the user name and password to enter and begin the registration. 47 MahaRERA Real Estate Agent Handbook 6.Once you Login, you will be taken to the MAHARERA Home page, wherein from side menu further details are required. Once you login in, you will be directed to this page. Here you see the different fields on the left side, which you need to fill in order to complete the registration. 7. From Side Menu, Click on Accounts and My Profile link to give General Information about Individual type Real Estate Agent. Fill in the Personal Information along with the Identity proof. a. Select other details such as Past experience ,if any, b. Criminal /Police case pending, if any, c. Registration as an agent with any other states, if any, needs to be provided. 8.Give also the Address and other Contact details along with Photograph on My Profile Page as shown below. The “My Profile” tab is the place where you enter your information. 48 MahaRERA Real Estate Agent Handbook In this section you fill in your address details. In this section you fill in your contact details 9.Once done, please click on the Save Profile button to save all your personal Information as an Individual Real Estate Agent. A Message Box with “Profile Saved Successfully” will pop up. Click OK on Message Box. 10. If on “My Profile” Page past experience is selected as ‘YES’ then, select side menu “Past Experience Details” section. You will be taken to “Agent Past Experience Details” page. please fill in the required Past Project Details for work experience details as a Real Estate Agent. Save the details. 49 MahaRERA Real Estate Agent Handbook In this section you fill in, those previous projects where you have been an agent. 11. You can also edit and add another project details if needed. Once you fill in and click save, you can see the project added. 12. “Agents Details Added Successfully” Message pops up. Click OK to proceed further. 50 MahaRERA Real Estate Agent Handbook This is the confirmation window that pops up to confirm the past experience details have been added. 13. Next, please provide your branch office details by click on side Menu “Add Branch Details”. In this section you need to fill in the branch offices. 14. Click OK on Message Box “Data saved successfully”. If needed you can also edit and add additional by clicking “Add Branch” button. This pop up box confirms that your data is added. 51 MahaRERA Real Estate Agent Handbook 15. If any criminal or Police case is pending, then please add necessary information as shown below by going to side menu “Add Litigation”. In this section you need to give details of any legal cases registered against you. 16. Click OK on Message Box “Data saved successfully”. If needed please edit the information and save again. This pop up informs you that the legal case details are added 52 MahaRERA Real Estate Agent Handbook 17. Now under Registration Details Side Menu-Add registration details, if you have Real Estate Registration in any other state apart from Maharashtra then please fill up the details along with registration number and documents. Click OK on Message Box to add the details. This section allows you to fill in details of past work experience in States other than Maharashtra Here you click the save button to successfully add these details 18. Click Save Registration. In this window you can see the details of registration in other states added. 53 MahaRERA Real Estate Agent Handbook 19. You can edit the information and also add additional state details if needed and save. Click OK on Message Box “Agent Details Added Successfully”. This pop up is a confirmation message that the details have been successfully added. 20. Next From Side Menu, Click on Registration Details and from “Document Upload“ Menu, upload Mandatory documents marked as (*) from choose file option. Click on Upload to save your documents with MahaRERA web portal. This section deals with uploading the mandatory documents. You must pay attention and carefully upload the correct documents. 54 MahaRERA Real Estate Agent Handbook 21. Once uploaded, click OK on Message Box “File uploaded successfully”. This pop up will confirm that the document has been successfully added. 22. Repeat this step for all documents to be uploaded. One by one you must upload all the required documents here. 55 MahaRERA Real Estate Agent Handbook 23. Please click on payment side Menu; it will generate your profile summary webpage with all details given by you for verification. Once you click on the payment tab all the information you have previously entered will be shown and you need to read and confirm that there is no mistake. Check the address and contact details here 56 MahaRERA Real Estate Agent Handbook Check that all necessary documents have been uploaded. 24. Select Checkbox for Terms and Condition agreement and click on “Confirm and Proceed to Payment “Button. Check if all legal case details which you have entered are showing here. 57 MahaRERA Real Estate Agent Handbook 25. For Payment of Registration Fees, after clicking “Payment” Side Menu, the Payment description page would appear with payment process and details for the real estate agent to make payment. Click on Make payment or Generate Challan as per convenience. In this page you will see the fee payable. On this page you can now proceed to pay by clicking the make payment button. 58 MahaRERA Real Estate Agent Handbook 26. Once you click on the Make Payment button, it will take you to MahaOnline site showing the payment summary and then you need to proceed with the payment. Once again, you get to see a summary of fees payable. You should confirm that it is correct and then click proceed for payment tab. 27. Click on the payment method you wish to opt for to make the registration fees payment. This screen gives you many payment options. You can choose any. 59 MahaRERA Real Estate Agent Handbook 28. Once Payment is done successfully. After scrutiny and verifications MahaRERA would issue Real Estate Registration Certificate that can be view from the side Menu under “Registration Details” section. 5.8.2. Non – Individual Agents 1.Open MahaRERA Web portal from below link and Click on Online Application Tab:-https://maharera.mahaonline.gov.in/ This is the landing (Main) page where we begin the registration process Click on New Registration Button. On this page you have to start the registration process by clicking New Registration 60 MahaRERA Real Estate Agent Handbook 2.Create New Account by giving the following information:- a. Select Real Estate Agent in User Type. b. Select State Maharashtra c. Give User Name, password, Confirm password, Mobile Number and Email ID. d. Finally fill up the Captcha asked on Login Page and click on “Create User” Button. Here you enter all the details and the captcha 3.Once User is created it will ask you to verify it by sending you the activation link to your email. 61 MahaRERA Real Estate Agent Handbook 4.Please Click on Activation link and Confirmation message will pop up. Click OK on Message Box. Check your email (the same email id you entered) and search for the account activation link This pop- up confirms the activation is complete 62 MahaRERA Real Estate Agent Handbook 5.Now Login into the Account by giving your credentials and Captcha provided on page. This page is where you can login after you create the account 6.Once you Login, you will be taken to the MahaRERA Home page, wherein from side menu further details are required. This is the page where you need to select and proceed with the registration. 63 MahaRERA Real Estate Agent Handbook 7. From Side Menu, Click on Account and My Profile link to give Information about Organization Details by selecting “Information Type” as “Other Than Individual”. Fill in the Organizational Information along with the Identity proof with Photograph. a. Select other details such as Past experience ,if any, b. Criminal /Police case pending, if any, c. Registration as an agent with any other states, if any, needs to be provided. 8.Give Organization details by selecting type of an organization from dropdown list, with name and PAN Number. Select and fill in the relevant details PAN details will be that of Real Estate Agent Organisation. 64 MahaRERA Real Estate Agent Handbook Enter the business address and contact details here Here the names of the owners/ directors, their contact details should be filled in 65 MahaRERA Real Estate Agent Handbook Upload Photo and if needed add other Member details by clicking “Add New Member “and finally save Profile. Complete all required details here A Message Box with “Profile Saved Successfully” will pop up. Click OK on Message Box. This pop up shows as a confirmation 66 MahaRERA Real Estate Agent Handbook 9.If on “My Profile” Page past experience is selected as ‘YES’ then, select side menu “Past Experience Details” section. You will be taken to “Agent Past Experience Details” page. Please fill in the required Past Project Details for work experience details as a Real Estate Agent. Save the details. Here you can enter all past experiences of projects This pop up shows confirmation of details being added 67 MahaRERA Real Estate Agent Handbook Add Branch Details from Accounts Side Menu. Here, enter the communication details of the branch offices. 10. Once Data is added successfully, Message Box pops up. Select Ok This pop up shows as a confirmation. 68 MahaRERA Real Estate Agent Handbook 11. If needed other branch details can also be added. In case you have more than one branch office, enter details by adding branch. You can see the list of branches here. 12. If any criminal or Police case is pending, then please add necessary information as shown below by going to side menu “Add Litigation”. In this page you need to enter existing court case details 69 MahaRERA Real Estate Agent Handbook 13. Click OK on Message Box “Data saved successfully”. If needed please edit the information and save again. This pop up shows as a confirmation 14. Now under Registration Details side menu-Add registration details, if you have real estate registration in other states apart from Maharashtra, then please fill up the details along with registration number and documents. Click OK on Message Box to add the details. Here, enter the details of the States where the organisation has been registered as a real estate agent 70 MahaRERA Real Estate Agent Handbook 15. Click OK. Once Agent details have been added successfully, message box appears. This pop up shows as a confirmation 16. You can edit or delete any registration details if required. This page lists the entered details 71 MahaRERA Real Estate Agent Handbook 17. Next From Side Menu, Click on Registration Details and from “Document Upload “Menu, upload Mandatory documents marked as (*). Click on Upload to save your documents in MahaRERA web portal. In this page you are required to upload all required documents 18. File Uploaded Message Box will appear after your chosen file in.PDF format is uploaded successfully. This pop up shows as a confirmation 72 MahaRERA Real Estate Agent Handbook Continue uploading all documents one by one. 19. Once all files are uploaded, you can click on payment from side menu as shown in image and summary web page will open On this page you need to select payment and the details entered will be shown 73 MahaRERA Real Estate Agent Handbook Check if all details are correct Check organisation contact details 74 MahaRERA Real Estate Agent Handbook Check if all required documents have been uploaded 20. Select Checkbox for Terms and Condition agreement and click on “Confirm and Proceed to Payment“ Button. Check litigation details 75 MahaRERA Real Estate Agent Handbook 21. Next, For Payment of Registration Fees, after clicking “Payment” Side Menu, the Payment description page would appear with payment process and details for the real estate agent to make payment. Click on Make payment or Generate Challan button as per convenience. This page shows the amount of fees to be paid Check the fee details and click Make payment 76 MahaRERA Real Estate Agent Handbook 22. Once you click on the Make Payment button, it will take you to MahaOnline site showing the payment summary and then you need to proceed with the mode of payment as per your choice. Now select the mode of payment and proceed in the same manner as for the individual registration payment process to complete the non-individual registration After Submission of Application, Real Estate Agent can view the status of their application on their homepage. 77 MahaRERA Real Estate Agent Handbook 6. Real Estate Project Registration and Promoter Responsibilities A real estate agent is responsible for facilitating transaction between promoter and allottee, hence must be aware of various functions and duties of Promoter including Project Registration, Project Updates, Project Extensions and so on. Hence, this chapter is included in this handbook for Agents, in order to give them brief information about real estate project registration and promoter responsibilities Promoter is defined as per Section 2 (zk) of the Act as follows: “(zk) “promoter” means,— (i) a person who constructs or causes to be constructed an independent building or a building consisting of apartments, or converts an existing building or a part thereof into apartments, for the purpose of selling all or some of the apartments to other persons and includes his assignees; or (ii) a person who develops land into a project, whether or not the person also constructs structures on any of the plots, for the purpose of selling to other persons all or some of the plots in the said project, whether with or without structures thereon; or (iii) any development authority or any other public body in respect of allottees of— (a) buildings or apartments, as the case may be, constructed by such authority or body on lands owned by them or placed at their disposal by the Government; or (b) plots owned by such authority or body or placed at their disposal by the Government, fo

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