May 24, 2024: The MahaRERA registrations of over 20,000 real estate agents was cancelled by the Maharashtra Real Estate Regulatory Authority (RERA) on May 23, 2024 owing to the agents failing to get the competency certificates.
As per the MahaRERA, it is mandatory for all agents to complete their training, pass the RERA Maharashtra certification exam and finally register their certifications with the Maharashtra regulatory body. Failure to follow this process and get certification in the RERA specified time frame will result in the MahaRERA suspending the MahaRERA agent registration for one year. Effective January 1, 2023, the regulatory body had made it compulsory for all agents to undergo training and get the MahaRERA agent certification.
As per the MahaRERA website, around 43,888 agents are registered with the regulatory body since it was established in 2017. Of this, on May 23, the regulatory body suspended registrations of 20,000 agents results in only 23,888 agents with valid MahaRERA registrations.
According to MahaRERA, agents are the crucial link between homebuyers and promoters and they have a huge influence in people deciding a particular project for investment. Thus, with people trusting them with their hard earned life savings, it is the responsibility of the agents to have complete clarity about the project he deals with and the rules and regulations with property purchase in the state. This is where the agent competency certificate helps. On this matter, the MahaRERA on April 29, had issued a notice stating that promoters should work with only MahaRERA certified agents, non-compliance of which will result in action taken against the promoter and the project too.
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With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
Email: anuradha.ramamirtham@housing.com
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