An Eye for the Pseudo

An Eye for the Pseudo

An Eye for the Pseudo

NEW RERA REGULATIONS

The year 2016 was marked by one of the most important regulations issued by the Real Estate Regulatory Agency (RERA) for Developers and Real Estate Brokers with regards to advertising properties in Dubai.

Under the New Regulations which came into effect since October 2016, Developers and Brokers are now required to go in for licensing permits before issuing any property advertisement in the media like radio, print, social media etc. The permits can be obtained online through the Trakheesi System on the official Dubai Land Department website. Violators of the rule will be fined
Dh50, 000.

Commenting on the announcement, Mr. Ali Abdulla Al Ali, Director of the Real Estate Licensing Department said: “This announcement reflects RERA’s commitment to protect investors and regulate the market by preventing the emergence of any irregularities. However, the investor should act carefully to protect himself by checking all documents and by requesting information from the broker about the property offered.”

Being a registered broker for RERA, Deja Vu Real Estate is playing its part to implement the New Rules and Regulations. As a Seller or Landlord, we request you to sign the RERA ‘Form A’ before listing the property. ‘Form A’ is an agreement between the Seller and the Agent that verifies the ownership of the listing. It is mandatory for the agents to submit the Seller’s passport copy and title deed along with a copy of the signed ‘Form A’ for acquiring the permit to market / list the property.

We request you to corporate with us in implementing the rules by RERA and play a part in making the Dubai Real Estate Market more regulated and safe.

 

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