Industry & Economy
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Real Estate & Construction
Delhi realtors for licensing of agents
Our Bureau
New Delhi
,
Aug. 27
IN a bid to streamline property investment business, the Delhi Real Estate Development Council on Friday asked the Delhi Government to bring about a legislation that would authorise the council to issue licences to real estate brokers.
"After studying the details of real estate brokerage business in India we felt that there should be a regulation for real estate brokers. We have, therefore, proposed to Delhi Government to draft a legislation that would authorise us to give licences to real estate brokers after screening," Mr Sumit Jha, Assistant Director of National Real Estate Development Council (NAREDCO) said.
NAREDCO on Friday announced the launch of its Delhi chapter - Delhi Real Estate Development Council.
Mr Jha said that specific criteria like educational qualification and experience should be fulfilled by a person to work as a real estate agent.
"The brokers should be responsible to customers and get licence from the Delhi Real Estate Development Council. Once there is a compliant, we will verify if he is guilty and accordingly take action varying from a show cause notice to delisting from Delhi Real Estate Development Council," Mr Jha said adding that the brokers should also undergo training on a mandatory basis.
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