MahaRERA Sees Surge in Out-of-State Real Estate Agents
Mumbai: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has seen a significant surge in the number of registered real estate agents, now surpassing 50,000. Interestingly, a considerable number of these agents are from outside Maharashtra, including major cities like New Delhi, Gurgaon, Prayagraj, Hyderabad, Bengaluru, Goa, Ahmedabad, Patna, and Jammu.
The highest number of agents registered with MahaRERA are from the Mumbai Suburban district, with 8,365 agents, followed by Pune district with 7,931 agents and Thane district with 6,760 agents. According to the regulator, the real estate sector in the Mumbai Metropolitan Region (MMR) and Pune is a major draw, attracting agents from across India. Cities such as New Delhi, Hyderabad, Bengaluru, and even smaller towns like Kanchipuram, Nainital, and Indore, have agents registered with MahaRERA.
As many as 14 agents registered with MahaRERA are from Gautam Buddha Nagar in Uttar Pradesh. Similarly, 14 agents are from Bengaluru, while there are 9 agents from Gurgaon, 5 from Kolkata, 3 from New Delhi, and 3 from Kanchipuram among various cities outside Maharashtra.
It makes sense for a realtor firm operating pan India to register with MahaRERA if they intend to do business here. Besides, a large number of people are investing pan India, said Pramod Vyas of Jayant Associates, a realtor. The younger generation keeps moving to different cities and ends up investing in properties in those cities. Besides, people who are into various businesses in other cities across the country find the real estate market in Mumbai lucrative and want to invest in the real estate market here. For both these categories, they seek trusted realtors or realtors in the cities they hail from with knowledge of the real estate market here, added another realtor.
According to the regulatory authority, though 50,673 agents registered with MahaRERA, only 31,980 of these agents are active, while 18,693 agents were de-registered by MahaRERA for various reasons. A real estate agent plays the role of a consultant and is a link between the homebuyer and the developer. This underscores the importance of having a robust and transparent regulatory framework to ensure the integrity of the real estate market in Maharashtra.
