Dear Real Estate Agent,
Warm greetings and congratulations on registering with the Kerala Real Estate Regulatory Authority (K-RERA). We are delighted to have you on board and excited to assist you in achieving compliance with the Central Law, - ‘Real Estate (Regulation and Development) Act 2016’. At K-RERA, our mission is to promote greater accountability and value through regulatory compliance. We strive to create a healthy, competitive real estate sector by fostering good conduct from all stakeholders, promoters, allottees, and real estate agents. By registering with the Authority, you have completed the initial legal compliance with the Act 2016. Your registration is valid for a period of five years from the date of registration and can be renewed further as per Section 9(6), of the Act 2016( read with Rule 13).The registration presents you with a unique opportunity to be a Registered Real Estate Agent and your details will be made available through the K-RERA website for ensuring transparency and authenticity. To become a successful Real Estate Agent, we request you to follow the guidelines below prepared based on the Real Estate (Regulation and Development ) Act 2016’, Kerala Real Estate (Regulation & Development) Rules 2018, and Kerala Real Estate Regulatory Authority (General) Regulations 2020.
Instruction for Do’s
- You can now facilitate sale/purchase in a K-RERA registered real estate project. Facilitate means to make the sale/purchase possible or easier by means of advertisement, telephone calls, or any other communication.(Section 9)
- You should ensure that you are facilitating sale/purchase only in a K-RERA registered real estate project; registered under Section 3 of the Act 2016. (Section 9(1), 10(a)). If you come across any unregistered project, kindly inform the K-RERA Authority, of the details of the unregistered project to firstname.lastname@example.org.
- The Authority advises you to enter into a formal agreement with the promoter of the registered project(s) to act as an Agent, facilitating sale/purchase, either project-wise or for the entire projects of the promoter as the case may be.
- Agent Registration Number shall be quoted in every sale facilitated by you and in all advertisements in any media. (Section 9(5))
- You are advised to browse the K-RERA website regularly for the latest updates, Public Notices, and Orders. www.rera.kerala.gov.in
- Any advertisement issued or published by you on a registered project shall mention prominently the website address of the Authority and the registration number of the project.
- You shall Maintain and preserve books of account, records, and documents in accordance with the provisions of the Act,2016, in accordance with the provisions of the Income Tax, 1961 Central Act. (Section 10(b) read with Rule 15).
- 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. (Section 10(d)).
- Whenever you notice any promotion/sale/development in any unregistered project you, shall bring that to the notice of the Authority.
Instruction for Don’ts
Registered Real Estate Agent shall not commit a breach, of any of the terms and conditions of the Act 2016 / Rules 2018 / Regulations 2020. If the Authority notices that you have obtained the registration through fraud or misrepresentation, the registration may be revoked or suspended. (Section 9(7) read with Rule 14)
You shall not be involved in any unfair practices namely: -
(i) the practice of making any statement whether orally or in writing or by visible representation which -
- Falsely representing that the services or of a particular standard or grade.
- Represents that the promoter or himself has approval or affiliation which such promoter or himself does not have.
- 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. (Section 9(7),10(c)).
The points indicated are not exhaustive. You are advised to be familiar with the Law. We look forward, working with you to ensure your service on each registered project a great success. We request you to browse our website which contains the Act, Rules, Regulations, Public Notice, and Orders. The Authority, directs you, to brings in to the notice of the Authority, about the Agents who are actively engaged in the Real estate sector without having K-RERA registration via email at email@example.com. The Authority directs you to adhere to the various notices being issued by the Director General of Audit Indirect Taxes & Customs, New Delhi, and the Guidelines for Reporting Entities (Real Estate Agents) under the Prevention of Money Laundering Act, 2002 dated 17.02.2023.