The Haryana legislative assembly passed the Haryana Regulation of Property Dealers and Consultants Bill to safeguard the interests of the people using services of property dealers, property consultants and real estate agents
The Bill, which was tabled in the assembly on September 2 by Savitri Jindal, minister of state for revenue, was passed after amendments in Clause 17(1) and 17(2).
After this Act is enforced, no property dealer or his representative without obtaining licence can enter into transactions of sale, purchase, exchange, letting or taking on lease between the buyer and seller, lessor and lessee, landlord and tenant, including the collection of rent in respect of the immovable property with anybody in any manner.
The Bill further mentions that an application shall be made to the collector for the grant or renewal of a licence in the prescribed form accompanied by fee.
The provision of Bill specifies that no property dealer or his representative, directly or indirectly could purchase any immovable property for which he had received or likely to receive commission from the owner of such property except with the prior permission of the collector.
Furthermore the Bill clarifies that any dispute arising between the property dealer and any of the parties to the deal under this Act or the rules framed there under shall be decided by the collector on an application made by the aggrieved person in such form and manner, as may be prescribed.
According to other provisions of the Bill, any person who contravenes any provisions of this Act or any rule made there under, will be punishable on first conviction with imprisonment and with fine which may be extended to Rs 50,000 in the first conviction and from Rs 1 lakh to Rs1.50 lakh in the event of second and subsequent conviction. The property dealers in Haryana have welcomed this move as the Bill aims at curbing the unrestricted mushrooming of property dealers in Haryana.
Kamal Jindal, general manager, Berkley Realtech, welcoming the Bill adds that it would not only help in keeping a check on the unrestrained growth of property dealers in Haryana but also contribute towards state revenue in a big way as property dealers would now have to get licence after paying certain amount of fees.
Mangat Rai from Subash Mangat Property Consultants adds it would help both the buyer and seller as transparency would be maintained in the sale deeds. Meanwhile the Haryana assembly has also passed the Indian Stamp Bill 2008 (Haryana Amendment Bill).
According to the Bill, the rate of stamp duty will be decreased from six per cent to five per cent on conveyance deeds and sale deeds.
