The imposition of Haryana Regulation of Property Dealer and Consultancy Act, 2008, on property dealers in Haryana has evoked a mixed response after two years of its implementation.
Even as the government officials maintain that the Act is gaining some traction, property dealers or direct sales agents feel otherwise.
Vishal Kaushal, the CEO of Wealth Doctor, which is into real estate consultancy business, believes the Act will not be able to serve its purpose.
With no regulation for the builders and developers, any regulation made for channel partners seems obnoxious.
Broker Officer Sanjeev Sharma of RE/MAX, a real estate franchising network, also believes if regulation has to come, it has to come from top. In the absence of any regulators for developers and builders, it would be difficult to have any Act function successfully for their channel partners, he said.
The Haryana Regulation of Property Dealer and Consultancy Act, 2008, is aimed at safeguarding the interests of the people using services of property dealers, property consultants and real estate agents.
According to the Act, no property dealer or his representative without obtaining licence could 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.
Besides fixing the commission charges for the agents, the Act also aims at checking ‘fly by night’ operators, those not indulging in healthy real estate practices.
The state Revenue Department Financial Commissioner Naresh Gulati maintained, the Act was gaining some momentum. Till December 2010, about 1,507 property dealers had been registered under the Act.
Gulati said, the focus till now was on persuading the dealers to abide by the law. However, according to the provisions in the Act, punitive action could also be taken against the erring dealers. Adding: “The deputy commissioner in respective districts could take action against the erring dealers”.
