News : Gurgaon Implements Haryana Regulation of Property Dealers and Consultancy Act - Indian Real Estate Forum

vikramwix · 26-01-10

Date: 06/01/2010
Gurgaon District two property dealers have given licenses under Haryana Regulation of Property Dealers and Consultancy Act on Wednesday.
Information to this effect was made by Deputy Commissioner, Rajender Kataria that Himgiri Properties of Rajendra Park near Palam Vihar Gurgaon and M/s Ankur Properties of Sector 46 of Gurgaon got themselves registered with appropriate authority for taking up property consulting business.
According to the Deputy Commissioner, who is also designated as Collector under the Act, an individual found indulging in property consultancy business without having a valid licence will be liable to pay a fine of Rs. 50000 and in case of society, company or organization the fine is Rs. One lakh.
According to Mr Kataria, for registration an individual have to pay a license fee of Rs 25000 while the organization, company or society will have to pay a fee of Rs 50,000. The license would be valid for a period of 5 years and thereafter the licensee will have to get it renewed.
For individuals, the renewal fee is Rs 5000 while for the organization, company and society it is Rs 10,000. He said that if the license is not renewed in time then, in case of individual, a late fee of Rs 500 per month would be charged while the organization or society will be charged late fee of Rs 1000 per month.

The application for obtaining property dealer license shall be accompanied by proof of residence, four photographs, thumb impression, undertaking of solvency certificate, character certificate, two guarantors about his genuineness and address of the premises of his business accompanied by the treasury challan of the payment of the prescribed fees.
The license of the licensee shall stand automatically cancelled on bankruptcy or insolvency or lunacy or unsoundness of mind. The property dealer shall display at all times the signage board bearing registered license number in the office.
If the license is lost, destroyed, defaced, torn or becomes illegible, the property dealer shall forthwith apply to the licensing authority for grant of a duplicate license with court fee stamp of Rs 10 and treasury challan of Rs 50.
The license holder shall get only one percent commission on the agreed consideration value paid by the seller and purchaser of the property that is half percent by each of them on finalization of the deal. In case of deal of lease or rent of immovable property, rate of commission shall be paid by the lesser and lesee at the rate of one month rent of the property to the license holder.

26-01-10	#1
vikramwix Member Join Date: Jan 2010 Location: Gurgaon Posts: 185 My Mood: Thanks: 0 Thanked 1 Time in 1 Post Rep Power: 1	News : Gurgaon Implements Haryana Regulation of Property Dealers and Consultancy Act Date: 06/01/2010 Gurgaon District two property dealers have given licenses under Haryana Regulation of Property Dealers and Consultancy Act on Wednesday. Information to this effect was made by Deputy Commissioner, Rajender Kataria that Himgiri Properties of Rajendra Park near Palam Vihar Gurgaon and M/s Ankur Properties of Sector 46 of Gurgaon got themselves registered with appropriate authority for taking up property consulting business. According to the Deputy Commissioner, who is also designated as Collector under the Act, an individual found indulging in property consultancy business without having a valid licence will be liable to pay a fine of Rs. 50000 and in case of society, company or organization the fine is Rs. One lakh. According to Mr Kataria, for registration an individual have to pay a license fee of Rs 25000 while the organization, company or society will have to pay a fee of Rs 50,000. The license would be valid for a period of 5 years and thereafter the licensee will have to get it renewed. For individuals, the renewal fee is Rs 5000 while for the organization, company and society it is Rs 10,000. He said that if the license is not renewed in time then, in case of individual, a late fee of Rs 500 per month would be charged while the organization or society will be charged late fee of Rs 1000 per month. The application for obtaining property dealer license shall be accompanied by proof of residence, four photographs, thumb impression, undertaking of solvency certificate, character certificate, two guarantors about his genuineness and address of the premises of his business accompanied by the treasury challan of the payment of the prescribed fees. The license of the licensee shall stand automatically cancelled on bankruptcy or insolvency or lunacy or unsoundness of mind. The property dealer shall display at all times the signage board bearing registered license number in the office. If the license is lost, destroyed, defaced, torn or becomes illegible, the property dealer shall forthwith apply to the licensing authority for grant of a duplicate license with court fee stamp of Rs 10 and treasury challan of Rs 50. The license holder shall get only one percent commission on the agreed consideration value paid by the seller and purchaser of the property that is half percent by each of them on finalization of the deal. In case of deal of lease or rent of immovable property, rate of commission shall be paid by the lesser and lesee at the rate of one month rent of the property to the license holder.

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