Gurugram: The Real Estate Regulatory Authority (RERA), Gurugram, has issued a strong advisory urging the general public to invest in real estate projects only through RERA-registered real estate agents, warning that dealing with unregistered agents can lead to serious financial and legal risks.
In its advisory, RERA stated that unregistered property dealers often make false or misleading promises to attract buyers, which frequently results in disputes, fraud, and loss of hard-earned money for homebuyers.
According to the Authority, the Real Estate (Regulation and Development) Act, 2016, clearly mandates that no real estate agent is permitted to facilitate the sale or purchase of any property in a real estate project without obtaining mandatory registration from RERA.
“No real estate agent can legally assist in the sale or purchase of any property without being registered under RERA,” the advisory noted.
Buyers Advised to Verify Agent Credentials Online
RERA Gurugram has advised prospective homebuyers to carefully read the guidelines and instructions related to real estate agents, which are available on the official RERA Gurugram website, before investing in any real estate project.
The Authority emphasized that buyers must verify the registration status of agents by checking the official list of registered real estate agents published on the RERA portal.
Who Comes Under the Definition of a Real Estate Agent?
For clarity, RERA explained that the term real estate agent includes any individual who negotiates, introduces, or acts on behalf of buyers or sellers for the sale or purchase of plots, apartments, or buildings in a real estate project in exchange for commission, fees, or any other form of remuneration.
This definition practically covers property dealers, brokers, consultants, and middlemen, irrespective of the name they operate under. Any person acting as a real estate agent without RERA registration is legally prohibited from selling, advertising, or promoting any property.
Registration Mandatory Under Section 9 of RERA Act
The Authority further highlighted that Section 9 of the RERA Act, 2016, makes it compulsory for all real estate agents to register with the respective Regulatory Authority. Engaging with unregistered agents is a violation of the Act and exposes buyers to fraudulent practices.
RERA’s Message to Homebuyers
Cautioning homebuyers, RERA Gurugram stated: “To avoid becoming victims of fraud and false assurances by unregistered agents, the public is strongly advised to deal only with RERA-registered real estate agents and verify their credentials before making any property investment.”