Indore (Madhya Pradesh): In the backdrop of reports of large-scale deals of real estate done just on the basis of diary entries, the district administration has warned property brokers that they must get registration of the Real Estate Regulatory Authority (RERA). Otherwise, they will not be spared and strict action, including FIRs and the NSA, will be slapped on them.
The district administration called a meeting of office-bearers of organisations of the real estate sector, including CREDAI, Indore Property Brokers’ Association and Indore Realtors’ Welfare Association at the collector’s office on Thursday. At the meeting, collector Manish Singh informed people about the rules and instructions regarding the business of properties and expected that they would follow them explicitly. He said that property brokers should work in the interests of the public and not get involved in any work that might spoil the rights of the public.
Collector Singh said that no coloniser should give out misleading advertisements. The actual position, facilities and registration of RERA should be clearly given in the advertisement.
All the members agreed and said that they would work in the public interest according to the rules and regulations of RERA and those of the government. Representatives of CREDAI, the Indore Property Brokers’ Association and Indore Realtors’ Welfare Association, including additional collector Pawan Jain, Dr Abhay Bedekar, Ajaydev Sharma and Rajesh Rathor, were present at the meeting.
The meeting was informed that both the Property Brokers’ Association and CREDAI would jointly conduct training at their respective levels to make property brokers aware of the rules and regulations.
What’s expected of property brokers:
§ Property brokers need to act according to the rules and regulations
§ Property brokers should get themselves registered under the RERA; action will be taken against those who do not register
§ Property brokers who work honestly, well and within the limits of law will be extended full cooperation
§ Property brokers doing wrong and illegal acts will not be spared; action will be taken against them
§ Property brokers have been asked not to transact properties in the diary.