UP and MP Real Estate Agents has to pay Rs2,50,000/- license fees
By Accommodation Times Bureau
Every state government will impose license fees on Real Estate Agents and Brokers. Every broker or agent needs to procure license from state authority in which he will practice. Uttar Pradesh and Madhya Paradesh RERA Rules have asked License fees from Real Estate Agents Rs25,000/- fro individual Brokers and Rs 2,50,000/- from people other than individuals like LLP, Partnership firms, Companies incorporated under Companies Act.
The License fees will have to be paid on renewal also. Every five years, the license has to be renewed. License also needs to file relevant documents such as Service Tax numbers, PAN, Balance Sheet or Income Tax Returns, Place of Business, People employed etc. The license process will be online.