The Real Estate regulation and Development Act 2016 is taken action on the real estate agent for the noncompliance. Because of provision, agents and other real estate broker worried a lot in their business due to the major reason such as delays in the submitting the possession of houses , flats , apartments and much more. Here the small broker is highly affected because, they need to go registration by themselves and obey all term and condition by the moth of July1.
It fails to go with the regulatory body due the lack of the clarity on the major execution of fresh rule. Hence, it may affect the property sale of next 2 months, which mentioned in the national new portal. Here the real estate association said to the News portal, that brokers is commonly earn property value of between 1 to 2 percentages in the give deals.
However, they have around 5% of penalty in hefty revenues losses, especially for the small-scale brokers. It is impossible to cope with penalty of reason, which never deliberates on the major part of the Real Estate Agents.
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