 "Registration of over 20,000 Maha real estate agents suspended by MahaRERA")
The Maharashtra Real Estate Regulatory Authority (MahaRERA) on May 23 stated that it has suspended registration of approximately 20,000 agents for a time of one year after they failed to get the MahaRERA Real Estate Agent Certificate of Competency from the body.
The MahaRERA said it has restricted these realtors from taking part in any transaction. This basically means that more than 42% of all registered real estate agents in Maharashtra do not currently have the legal registration to practise their profession. Since its inception in May 2017, 47,000 real estate agents in Maharashtra have registered with MahaRERA.
What is a Certificate of Competency?
In an order dated January 2023, the MahaRERA had made it essential for agents to go through training and acquire the prescribed certificate of registration. As per MahaRERA, if the 20,000 real estate agents complete the training, get the Certificate of Competency, and upload such documents on the portal in the span of a year, their licence will be restored.
MahaRERA mentioned in a statement that “those who do not follow the procedure within the stipulated time frame, their registration will stand cancelled after a year".
MahaRERA chairman gave a warning to real estate agents
Ajoy Mehta, chairman of MahaRERA said that "MahaRERA has made it mandatory for agents to undergo training, clear the examination, and obtain certification. This decision was taken on January 10, 2023, and was extended multiple times before finally becoming binding for all agents on January 1, 2024. Despite this, around 20,000 agents operating are still unqualified and their approval was revoked".
Mehta further added, "MahaRERA will not hesitate to cancel the registration of developers who will continue to engage with the unqualified agents. Developers must not overlook this warning".
What is MahaRERA?
The Maharashtra Real Estate Regulatory Authority (referred to as RERA Maharashtra or MahaRERA) is a governing and regulatory authority directing real estate trading in the state of Maharashtra. To put it another way, MahaRERA ensures that buyers and developers alike benefit from fair and transparent real estate transactions.
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MahaRERA 2024: Cancellation process
A few groups who were recently registered have made an appeal with MahaRERA that they wish to end their registration as agents on various grounds. MahaRERA has declared a de-registration procedure to facilitate the exit of such real estate agents from the system.
For this, the individual must apply to the Director (Registration), MahaRERA on dereg.agent@gmail.com in a recommended format. Certain terms should be satisfied to get themselves de-registered.
If an individual files a complaint against a real estate agent, whose de-registration application is in process, the aggrieved individual can move toward MahaRERA and the authority will take action which will be binding on the concerned agent.