NEW DELHI: The Haryana Real Estate Regulatory Authority (RERA), Gurugram bench, has cautioned homebuyers and property investors to conduct transactions solely through agents registered with the Authority. They warned that engaging with unregistered intermediaries could pose legal and financial risks.
In a recent advisory, Gurugram RERA mentioned that unregistered real estate agents frequently make misleading promises to entice buyers, leading to disputes and complications later on. According to the Real Estate (Regulation and Development) Act, 2016, no real estate agent is allowed to facilitate the sale or purchase of property in a registered project without the proper registration from the regulatory authority.
The authority elaborated that the definition of a real estate agent under the act is comprehensive, encompassing any individual who negotiates or represents another party in property transactions, or introduces buyers and sellers for the sale or purchase of plots, apartments, or buildings, in exchange for any form of commission or remuneration. This includes property dealers, brokers, and middlemen, irrespective of their title.
Gurugram RERA further emphasized that Section 9 of the RERA Act mandates the compulsory registration of real estate agents with the relevant state authority. Anyone acting as a real estate agent without such registration is legally barred from selling, advertising, or facilitating property transactions in a registered real estate project.
Homebuyers are encouraged to verify the credentials of real estate agents before proceeding with transactions by consulting the list of registered agents available on the official Gurugram RERA website. The authority stated that following these guidelines would promote transparency, protect buyer interests, and mitigate the risk of fraudulent activities in property transactions.
