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CS Executive · Economic, Commercial and Intellectual Property Laws · Real Estate Regulation and Development Law

Greenview Realty Ltd. has launched a housing project in Pune. Rohan, an agent, wants to market its flats but the project has not been registered with the Real Estate Regulatory Authority. Under the Act's rules on functions of real estate agents, what must a registered real estate agent do in this situation?

A registered real estate agent must not facilitate the sale or purchase of any plot, apartment or building in a project that is not registered with the Authority. The Act gives no exception for indemnities, grace periods or project value, so Rohan must refuse to market Greenview's flats until registration.

  1. AFacilitate sales only if the promoter gives a written indemnity
  2. BNot facilitate the sale of any plot, apartment or building in a project that is not registered with the AuthorityCorrect
  3. CFacilitate sales for the first 60 days while the promoter applies for registration
  4. DFacilitate sales if the project is below a prescribed value

Explanation

Section 10(a) says a registered real estate agent shall not facilitate sale or purchase of any plot, apartment or building in a project being sold by the promoter in a planning area that is not registered with the Authority. An indemnity, a grace period or a value limit are not exceptions provided in that clause.

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