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REGISTRATION AND FUNCTIONS OF REAL ESTATE AGENT & RIGHTS AND DUTIES OF ALLOTTEES UNDER THE REAL ESTATE (REGULATION AND DEVELOPMENT) ACT 2016

Other Topics - By: - Mr. M. GOVINDARAJAN - Dated:- 28-7-2016 - In this article the procedure for registration of real estate agent and his functions will be elaborated. Likewise the rights and duties of allottees are also discussed. The provisions relating to both real estate agent and allottees have not yet been notified. Real Estate Agent Section 2(zm) defines the term real estate agent as any person, who negotiates or acts on behalf of one person in a transaction of transfer o s his plot, apa .....

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des property dealers, brokers, middlemen by whatever name called. Registration of Real estate agents Section 9 provides the procedure for registration of real estate agents. Section 9(1) provides that a real agent shall facilitate the sale or purchase of or action 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 .....

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tion to the real estate agent for the entire State of Union territory, as the case may be; 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 made there under. No application shall be rejected unless the applicant has been given an opportunity of being heard in the matter. Deemed registration Section 9(4) provides that whereon the completion of the period, if the applicant does not receive any communication .....

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ides that every registration shall be valid for such period as may be prescribed. Revocation of registration Section 9 (7) provides that 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 there under, or where the Authority is satisfied that such registration has been secured by the real estate agent through misrepresentation or fra .....

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al estate project or part of it, being sold by the promoter in any planning area, which is not registered with the Authority; maintain and preserve such books of account, records and documents as may be prescribed; not involve himself in any unfair trade practices, namely- falsely represents that the services are 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 represen .....

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he term allottee in relation to the real estate project, as the person to whom a plot, apartment or building, has been allotted, sold, whether as freehold or leasehold or otherwise transferred by the promoter and includes the person subsequently acquires the said allotment through sale, transfer or otherwise but does not include a person to whom such plot, apartment or building, as the case may be, is given on rent. Rights of allottees Section 19(1) provides that the allottees shall be entitled .....

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s agreed to between the promoter and the allottee in accordance with the terms and conditions of the agreement for sale. Section 19(3) provides that the allottee shall be entitled to claim the possession of the apartment, plot or building and the association of allottees shall be entitled to claim the possession of the common area as per declaration given by the promoter. Section 19(4) provides that the allottee shall be entitled to claim the refund of amount paid along with interest at such rat .....

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