Guide to become top Real Estate Developer in Noida

 Top real estate developer in Noida play a crucial role in finalizing many successful property deals. Indian real estate is a diverse and competitive industry, particularly for top developers in Noida. To be successful in this market, it is important for all property agents to understand consumer behavior and what kind of marketing innovation will help them to get more leads, to keep one’s business afloat.

We share tips on how to become a top real estate developer in Noida and useful information pertaining to RERA registration and guidelines.

How to become a top real estate developer in Noida?

Here’s how to become a top real estate developer in Noida:

·         Research and explore

It is essential that you gain adequate knowledge of the profession before starting to become a top real-estate developer in Noida.

·         Get the necessary licenses and registration

Know about all the criteria that need to be met before starting your journey to become top real estate developer in Noida. This includes:

1.       Registering your company

2.       Obtaining real estate agent license

3.       Getting Professional Tax Registration (PTR)

4.       GST registration, etc.

All trades and professions in India are subject to the professional tax. In exchange for a cost that varies from state to state, the state tax department grants a PTR to the agent. The registration certificate must be renewed every year.

According to the Real Estate (Regulation and Development) Act of 2016, all real estate agents must register with the state-level Real Estate Regulatory Authority and get an RERA registration number or license. The permit is valid for five years. The licensing and registration requirements in India may differ from state to state.

RERA Guidelines on Registration of top real estate developer in Noida

The Real Estate (Regulation and Development Act), 2016 (RERA) was established with the aim of regulating the Indian real estate industry, organizing it, and ensuring transparency. The top real estate developer in Noida needs to register with RERA.

The RERA Act intends to regulate real estate transactions that were previously heavily in favor of the builders and make buying a home easier for home buyers. It assures that property sellers and buyers engage in fair transactions by using verified and trustworthy agents.

Top real estate developer in Noida is required to comply with the various guidelines such as:

·        Not facilitating the buying or selling of unregistered properties.

·        Adhere to the various provisions of the act.

·     Not involve in unfair commercial practices such as making a false and misleading statements, orally or in writing, or supporting advertisement of services that may be unlikely to be delivered.

·   Facilitating the possession of various documents and information to which a homebuyer is entitled when booking a home, land, or building.

What are the disadvantages of non-registration as per RERA?

A top real estate developer in Noida won't be able to function without RERA registration. In the event of any defaults, operating a business without RERA registration carries a fine of Rs 10,000 per day. Moreover, the penalty price may be raised by up to 5% of the selling price of the property.

The top real estate developer in Noida would not be permitted to engage in the sale of properties or any other real estate transaction in the absence of RERA registration. If the RERA orders are not followed, there might be a penalty of up to 5%. In addition, engaging in any unfair trading practices is punishable by a year in prison.

RERA Registration: Documents required

Top real estate developer in Noida must submit the following documents when applying for RERA registration:

·        A duly filled application form

·       PAN card copy

·       Name, contact information, photographs, and address of the real estate agent and the directors or partners

·      Copy of address proof, email id, and phone number of the area from where the agent will operate the business

·       Recent three years’ Income Tax Returns

·       Name, type of enterprise (for example, company, societies, proprietorship, partnership, etc.), and registered address of the enterprise

·  For real estate agency, particulars of the agency must be provided including the MoA (Memorandum of Association), byelaws, and AoA (Articles of Association)

·       Registration details in any other state, if applicable

·       Information related to any criminal/civil cases pending against the agent or the company

·   Information about real estate projects, promoters, and advertisers with whom the agent has association with for business in the past five years

·       Copies of acknowledgment receipts, letterheads, and rubber stamp images

RERA enrolment duration: Top real estate developer in Noida

The real estate authority (RERA) license of a developer is valid as of the issue date. After completing a form 60 days prior to the permit's expiration date, it may be extended for an additional five years.

RERA Certification Process for top real estate developer in Noida

Top real estate developers in Noida must be aware of the certification process that involves the following steps:

·         Documentation: Complete the RERA enrolment form and provide the requisite documents.

·         Verification: The details and documents submitted will be verified.

·         Filling registration forms: The next step involves form-filling depending on all the facts provided.

·         Work completion: The registration number is issued once the Real estate regulatory authority (RERA) account has been created.

How to become a top real estate developer in Noida: Eligibility Criteria

Top real estate developer in Noida can be attained by those with the necessary real estate understanding. Although there are no specific requirements to work in this industry, having strong networking and negotiating skills might be helpful. In accordance with the state's applicable regulations, the person's age must be at least 18. He or she must have passed the real estate license test and finish the necessary coursework.

 

Source Link : https://addindiagroup.com/guide-to-become-top-real-estate-developer-in-noida/

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