In the Final Order, it is mentioned that it would be incomprehensible to regard a Real Estate Individual and Real Estate proprietary as separate as they draw the work through each other hence their liabilities and Legal Fiction as regarded as one.
(One of the Delhi NCR Chapters of NAR India)
In a momentous judgement passed by the Punjab and Haryana High Court that will impact Realtors on a national Level, where it was made clear that Haryana Real Estate Regulatory Authority has to charge equivalent Registration fee to an Individual or a Sole Proprietorship Firm for Real Estate Agent registration and renewal.
This development came through when Association of Property Professionals Delhi NCR (One of the Delhi NCR Chapters of NAR India) lodged a case against the Haryana Real Estate Regulatory Authority’s stance of charging Rs. 25,000
From Individuals registering as a real estate agent and Rs. 2,50,000 from others who registered themselves as Proprietary firms. Like the discrepancy, there was a difference in renewal charges too of Rs. 5,000 to individuals and Rs. 50,000 to Proprietary firms.
According to the Judgement passed by High Court Justice Vinod S Bharadwaj, HRERA or any such association under authority would have to keep a standard charge across for Agents who are registering themselves as individuals or ‘Other than individuals’ like proprietary firms. This judgement has been received very positively nationally by the members of the Real Estate community.
In the Final Order, it is mentioned that it would be incomprehensible to regard a Real Estate Individual and Real Estate proprietary as separate as they draw the work through each other hence their liabilities and Legal Fiction as regarded as one.
“It has been a long-drawn case between the realtor fraternity and the government. I believe it is yet another strong step in the right direction proving that realtor community’s unity and perseverance can help in getting justice and consideration in the eyes of law as needed.”, says Abhishek Jain, Chairman Association of Property Professionals Delhi NCR.
According to Tarun Bhatia, Immediate Past President, NAR-India, “A High Court judgment generally operates to settle finally and authoritatively matters in dispute before any court or authority. Normally such judgements are quoted and followed across the country.
It is a rarity that such judgements will not be adhered to or be overturned. Therefore, real estate agents across the country facing similar issue in their respective states can now quote this judgement to the concerned authorities.”
“We welcome this judgement wholeheartedly. The RERA ACT was brought 6 years ago to rationalize the activities of all stake holders in our industry. This judgement will go a long way in standardizing license fees. We would still want them to be reasonable and affordable across the country. It will help in creating more self-employed Realtors.”, says Ravi Varma, Chairman NAR-India.
“This Hon. High Court judgement delivers justice and meets our long pending demand of Fee Rationalisation especially for an Individual and a Sole Proprietorship Firm under RERA. At NAR India we will continue to work towards One Nation One License for Realtors & Brokers in India.”, says Samir Arora, President NAR-India.
About NAR- India:
NAR-India is the top representative body and advocacy group for those in the Real Estate Transaction Advisory. NAR-INDIA was formed in the year 2008 to establish the highest standards and accreditation in the real estate industry and facilitate professional development for its members. NAR-INDIA is a Non-Profit Organisation created to be the collective voice of the Realtors in India.
NAR-INDIA encourages members to follow the highest professional and ethical standards in
the industry. Organisation provides support and education for over 50000 Realtors all over the country through its Member Associations. It also offers comprehensive resources to realtors to provide world class services & create value for all the stake holders in the industry.
This article was shared with Prittle Prattle News as a Press Release.
