(1) The registration granted under section 9 of the Act may be renewed as provided in section 6 of the Act, on an application made by the real estate agent in Form „J‟ which shall be minimum one month prior to expiry of the registration granted. The Authority may condone the delay for filing the renewal application after the date of expiry upon collection of late fee of Rs.500/- and 8 Rs.5000/- (10 per cent of renewal fee) in case of individual and other than individual respectively.
(2) The application for renewal of registration shall be accompanied with a demand draft drawn on any scheduled bank, for a sum of rupees five thousand in case of the real estate agent being an individual or rupees fifty thousand in case of the real estate agent being anyone other than an individual.
(3) The real estate agent shall also submit all the updated documents set out in clauses (a) to (g) of rule 11 at the time of application for renewal.
(4) In case of renewal of registration, the Authority shall inform the real estate agent about the same in Form „K‟ and in case of rejection of the application for renewal of registration, the Authority shall inform the real estate agent in Form „I‟:
Provided that no application for renewal of registration shall be rejected unless the applicant has been given an opportunity of being heard.
(5) The renewal of registration of the real estate agent shall be granted provided that the real estate agent remains in compliance with the provisions of the Act and the rules and regulations made thereunder.
(6) The renewal granted under this rule shall be valid for a period of five years.