Section 24 in Punjab Apartment and Property Regulation Rules, 1995
24. Qualifications for registration as promoter and estate agent.
(a)In case the application is for registration as a promoter, the applicant himself, if he is an individual, or one of his employees or one of the partners in case of a firm, or one of the directors in the case of a company, or one of the members of the managing committee in the case of a co-operative society, as the case may be, should be Matriculate or should possess its equivalent qualifications and should not be less than eighteen years of age.(b)In case the application is for registration as an estate agent, the applicant should be Matriculate or should possess its equivalent qualifications and should not be less than eighteen years of age and should not be in the employment of the Government or a State under-taking or a local authority and should not have been dismissed from the service of a Government or a State Undertaking or a local authority.(c)In case the application is for registration as a promoter, the applicant, himself, or one of his employees or one of the partners, in case of a firm, or one of the directors, in the case of a company, or one of the members of the managing committee in the case of a co-operative society, as the case may be should have atleast five years experience in the field of development of colonies or construction of buildings whether as a construction engineer, an architect, a town planner or as a contractor and in the case of an estate agent, the applicant should have atleast five years' experience as an estate agent.(d)The applicant shall furnish to the competent authority a bank guarantee or security of fifty thousand rupees for registration as a promoter and ten thousand rupees for registration as an estate agent. [Sections 22 and 45(2)(p)].
