HRERA Warns Homebuyers: Only Deal with Registered Real Estate Agents

Gurgaon: The Haryana Real Estate Regulatory Authority (HRERA) has issued a critical warning to homebuyers, emphasizing the importance of dealing only with RERA-registered real estate agents. This advisory comes as part of the authority's ongoing efforts to protect homebuyers from unscrupulous practices and ensure transparency in the real estate market.

In its advisory, HRERA cautions that unregistered brokers often lure buyers with false assurances, leading to significant financial losses and legal disputes. According to the Real Estate (Regulation and Development) Act, 2016, real estate agents are legally required to be registered before they can sell, advertise, or facilitate transactions in real estate projects. The term 'real estate agent' is broadly defined under the Act and includes property dealers, brokers, consultants, and middlemen operating under any name.

"Practically, anyone who negotiates deals, introduces buyers and sellers, or acts on behalf of another person in return for commission, fees, or any form of remuneration falls within the definition of a real estate agent," the authority stated. HRERA Chief Arun Kumar emphasized that homebuyers dealing with unregistered agents may face serious legal and financial problems, including invalid agreements, delayed projects, and difficulties in seeking legal relief.

In many cases, buyers later discover that the assurances given by unregistered agents have no legal basis, leading to significant challenges. The regulator advised buyers to carefully read the guidelines related to real estate agents available on the official HRERA website and to verify agents' credentials by checking the updated list of registered agents on the authority's portal.

"Proper checks at the initial stage can help buyers avoid fraud and safeguard their interests," HRERA said. The authority reiterated that agent registration under the RERA framework is essential to ensure accountability and transparency in property transactions. This advisory is part of increased regulatory monitoring of the real estate sector in the city, as HRERA continues its efforts to protect homebuyers and promote fair practices.

By adhering to these guidelines, homebuyers can make more informed decisions and protect themselves from potential fraudulent activities in the real estate market.