APRERA Issues 30-Day Deadline for Real Estate Agents to Register or Face Action

Quick Summary

• Action by APRERA: The Andhra Pradesh Real Estate Regulatory Authority (APRERA) has launched a crackdown on unregistered real estate agents, directing them to register within 30 days or face penalties under the Real Estate (Regulation and Development) Act, 2016.
• Chairperson’s Statement: APRERA Chairperson S. Suresh Kumar emphasized that registration is mandatory and essential for consumer protection and market transparency.
• Current Scenario:

– Only 248 agents are registered in Andhra Pradesh; thousands operate informally.
– Statutory notices have been issued to unregistered agents.

• project Delays Addressed: Of the pending project approval applications, 682 remain delayed due to incomplete details submitted by promoters. Hearings have been initiated to resolve these issues quickly.
• Compliance Measures:

– Non-compliance may result in fines, business restrictions, or legal action.
– NAREDCO and CREDAI asked to ensure their members complete registration.

Indian Opinion Analysis

APRERA’s move seeks to bolster consumer trust and accountability in the rapidly expanding real estate sector of Andhra Pradesh. By mandating compliance wiht registration rules under law, government agencies aim to create a more organized habitat that benefits buyers while curbing informal activity among agents prone to bypass regulations.

this enforcement push highlights two key challenges: lacking formal adherence among thousands of agents who operate outside regulatory purview and delays attributed not only to promoters but also inefficiencies within project approval processes. While these strict measures carry important implications for non-compliant businesses – including legal penalties – they could promote long-term economic benefits through enhanced investor confidence.The active involvement of industry groups such as NAREDCO and CREDAI further underscores their vital role as intermediaries between regulators and developers/agents in ensuring broader compliance while fostering transparency within the sector.

Read more at The Hindu.