RERA agent registration in Surat
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What is RERA Agent Registration?
Real Estate (Regulation and Development) Act (RERA) asks all real estate agents to register themselves with the concerned state RERA authority before broking deals in properties. This registration makes real estate business transparent and responsible. In the state of Gujarat, the agent needs to fill the online form, provide supporting documents, and pay the stipulated fee. The agent gets a registration number, which shall be quoted by the agent for all transactions.
Why is RERA Registration Important for Agents?
RERA registration is essential for real estate agents for the following reasons:
1. Legal Compliance:
Operating without registration is illegal and results can be in penalties.
2. Credibility & Trust:
A registered agent gains more trust from buyers and sellers.
3. Protection from Legal Issues:
Ensures that agents adhere to ethical business practices.
4. Access to More Opportunities:
Many clients prefer to deal with RERA registered agents.
What is CHG-1 Form?
Form CHG-1 is an official application for registering the creation or modification of a charge (excluding debentures). This form is very mandatory when a company secures a loan by pledging its assets.
How to become a RERA Agent in Gujarat?
Following are the easy steps to carry out your RERA registration:
Step 1: Create an Online Account
- Go to the RERA Gujarat official website.
- Enrol by creating a login ID and password.
Step 2: Upload the Required Documents
Prepare and present the following documents:
- PAN Card (For identification purpose)
- Aadhaar Card (For address verification)
- Passport-Size Photo
- Declaration Form (As per RERA regulations)
- Invoice Copies (For business verification)
- Income Tax Returns (ITR) of the Last 3 Years
- Other Documents Needed (As per Gujarat RERA requirements)
Step 3: Pay the Registration Fee After submitting the documents, opt for online payment of the registration fee via the RERA portal.
Role of RERA-Registered Agent: Key Responsibilities
After registration, agents have to follow these conditions:
- REGISTERED PROPERTIES ONLY: Property agents deal with registered properties only.
- Maintain Documentation, Accounts & Records – Compliance with record-keeping and documentation is required.
- Do not engage in unfair trade practices: agents cannot give false information or “one-sided promises”.
- Client Rights & Responsibilities: Vendors must assist buyers and promoters in understanding their rights and obligations.
- Agents should adhere to all rules of the authority—RERA rules.
5. The charge secures a specific financial amount.
The actual amount paid by shareholders for their subscribed shares.
If any shareholder fails to pay, it becomes a “call in arrears.”
When all dues are cleared, paid-up capital equals subscribed capital.
6. The fundamental elements and stipulations governing the charge
A portion of capital reserved for emergencies (e.g., company liquidation).
It cannot be used for regular business activities.
7. Rate of interest
The actual amount paid by shareholders for their subscribed shares.
If any shareholder fails to pay, it becomes a “call in arrears.”
When all dues are cleared, paid-up capital equals subscribed capital.
8. Detailed specifications of repayment conditions including monthly duration and installment particulars.
A portion of capital reserved for emergencies (e.g., company liquidation).
It cannot be used for regular business activities.
9. The loan facility nature encompasses categories like working capital loans, term loans, and overdraft options.
The actual amount paid by shareholders for their subscribed shares.
If any shareholder fails to pay, it becomes a “call in arrears.”
When all dues are cleared, paid-up capital equals subscribed capital.
10. Date of loan disbursement
A portion of capital reserved for emergencies (e.g., company liquidation).
It cannot be used for regular business activities.
What Happens When You Don't File the Forms on Time?
If you don’t submit the required forms by the deadline, you’ll face penalties:
Late Fee:
You’ll have to pay INR 100 for each day you delay filing.
On the Company:
INR 1,000 per day, subject to a maximum of INR 10 Lakhs.
On Every Officer in Default:
INR 1 Lakh, plus INR 100 per day of delay, subject to a maximum of INR 5 Lakhs.
Steps for Modifying a Company's Object Clause
The process to alter a company’s object clause requires adherence to several procedural steps including:
1. Holding a Board Meeting
The Board of Directors must convene a meeting to: (1) Execute a formal agreement to sanction the suggested modification of the object clause. (2) Empower a director to execute every necessary filing and formality. (3) Select the specific date along with time and location for an Extraordinary General Meeting (EOGM) to secure shareholders' approval.
2. Executing the Extraordinary General Meeting (EOGM)
To obtain shareholder consent for the alteration during the EOGM a special resolution needs to be passed.
3. Registrar of Companies (ROC) receives Form MGT-14 when it is filed by entities.
Upon passing the special resolution, the company must file Form MGT-14 with the ROC within a 30-day period. This document serves as the official resolution notification and must be submitted together with all required paperwork.
4. The generation of an entirely new incorporation certificate.
The ROC examines the application and upon finding all elements satisfactory proceeds to issue a revised Certificate of Incorporation which includes the modified object clause.
Timely filing of DPT-3 ensures compliance, prevents legal risks, and maintains your company’s credibility with financial institutions and stakeholders.
Government Fees for Filing CHG-1
The government fee for CHG-1 filing depends on the company’s authorized share capital. The fee structure is outlined under the Companies (Registration of Offices and Fees) Rules, 2014.
For the latest fee details, visit the Ministry of Corporate Affairs (MCA) website: http://MCA.GOV.IN