MahaRERA to Conduct Fifth Exam for Real Estate Agents in Maharashtra to Ensure Compliance
Over 5,000 real estate agents to appear for the competency examination, with 9,295 agents already cleared in previous batches
MahareraRera ActReal Estate AgentsMaharashtraHomebuyersReal EstateJul 24, 2024
MahaRERA has made it mandatory for real estate agents to undergo training and obtain the prescribed certificate of registration. This is in line with the RERA Act, which aims to protect the interests of homebuyers.
Of the 5,260 candidates, 3,081 are from the Mumbai Metropolitan Region (MMR), 1,533 from Pune, and 518 from Nagpur. The examination is being conducted to ensure that real estate agents are knowledgeable about the RERA Act and its provisions.
In January 2023, MahaRERA had made it mandatory for real estate agents to undergo training and obtain the prescribed certificate of registration. A failure to do so will lead to MahaRERA suspending registrations of such real estate agents.
According to MahaRERA, till now four batches have appeared for the examination and 9,295 real estate agents have cleared the test. There are around 47,000 agents registered across Maharashtra. Of these, registrations of 13,785 agents have been cancelled due to non-renewal.
In April, MahaRERA had suspended registration of over 20,000 agents who failed to comply with the training and certification requirements. This action has led to an increase in the number of candidates appearing for the upcoming test to over 5,000 from around 1,700 in the previous edition.
Ajoy Mehta, Chairman of MahaRERA, emphasized the importance of agents being well-versed in the provisions of RERA Act. He stated that failure to comply within the stipulated time frame to obtain certification will result in tough decisions.
In addition to the mandatory examination, MahaRERA has also directed real estate agents to make half-yearly progress reports public. This mandates furnishing information on projects where they have been designated by developers to handle sales.
Information
The Maharashtra Real Estate Regulatory Authority (MahaRERA) is a regulatory body established under the Real Estate (Regulation and Development) Act, 2016 (RERA) to regulate and promote the real estate sector in Maharashtra.
MahaRERA is committed to protecting the interests of homebuyers and promoting transparency and accountability in the real estate sector.
Frequently Asked Questions
What is the purpose of the competency examination conducted by MahaRERA?
The purpose of the examination is to ensure that real estate agents are knowledgeable about the RERA Act and its provisions, and to protect the interests of homebuyers.
How many real estate agents have cleared the examination so far?
According to MahaRERA, till now four batches have appeared for the examination and 9,295 real estate agents have cleared the test.
What is the consequence of not obtaining the prescribed certificate of registration?
A failure to obtain the prescribed certificate of registration will lead to MahaRERA suspending registrations of such real estate agents.
How many real estate agents are registered across Maharashtra?
There are around 47,000 agents registered across Maharashtra.
What is the role of real estate agents in the real estate sector?
Real estate agents play a crucial role in the real estate sector, and it is imperative for them to be well-versed in the provisions of RERA Act.
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