An Act to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sector and to ensure sale of plot, apartment or building, as the case may be, or sale of real estate project, in an efficient and transparent manner and to protect the interest of consumers in the real estate sector and to establish an adjudicating mechanism for speedy dispute redressal and also to establish the Appellate Tribunal to hear appeals from the decisions, directions or orders of the Real Estate Regulatory Authority and the adjudicating officer and for matters connected therewith or incidental thereto.
Every real estate agent registered under section 9 shall:-
(a) not facilitate the sale or purchase of any plot, apartment or building, as the case may be, in a real estate project or part of it, being sold by the promoter in any planning area, which is not registered with the Authority
(b) maintain and preserve such books of account, records and documents as may prescribed
(c) not involve himself in any unfair trade practices, namely:-
i. the practice of making any statement, whether orally or in writing or by visible representation which:-
(A) falsely represents that the services are of a particular standard or grade
(B) represents that the promoter or himself has approval or affiliation which such promoter or himself does not have
(C) makes a false or misleading representation concerning the services
ii. permitting the publication of any advertisement whether in any newspaper or otherwise of services that are not intended to be offered
(d) Facilitate the possession of all the information and documents, as the allottee, is entitled to, at the time of booking of any plot, apartment or building, as the case may be.
(e) discharge such other functions as may be prescribed