MahaRERA Witnesses a High Pass Percentage of 87% in the 5th Edition of Real Estate Agents Examination
Maharashtra Real Estate Regulatory Authority declares results of the 5th edition of Real Estate Agents examination with 4,165 candidates clearing the test
Real Estate Agents ExaminationMahareraRera ActReal Estate Regulatory AuthorityAgents Training And CertificationReal Estate MumbaiAug 05, 2024
Of the 4,165 candidates who cleared the fifth edition of the exam, 3,553 were males, 612 were females, 196 were senior citizens, and 12 were senior citizen women. The top rank was jointly shared by Sharad Mota from Mumbai and Divyesh Maheshwari from Pune, both of whom scored 100% marks.
Since the inception of the exams, a total of 13,370 candidates have qualified to become real estate agents. This number includes 4,165 from the latest batch, 405 from the maiden examination, 2,812 from the 2nd round, 4,461 from the 3rd lot, and 1,527 from the 4th edition.
MahaRERA has made it compulsory for new real estate agents as well as for renewals to undergo training and get certified, as per its January 10, 2023 order. Currently, there are approximately 47,000 agents registered with MahaRERA in Maharashtra. However, the registrations of 13,785 agents were cancelled due to non-renewal.
By the end of April, MahaRERA suspended the registration of over 20,000 agents who failed to meet the mandatory requirements of training and certification up to December 31, 2023. These agents are now prohibited from transacting in the sector until they meet the specified conditions.
In the real estate sector, an agent plays a vital role in bridging the gap between homebuyers and developers. They are often the first point of contact for flat purchasers and provide initial information about projects. Considering the importance of agents in the real estate sector, it is crucial for them to be well-versed in the provisions of the RERA Act.
Agents are expected to have uniform, clear, and credible preliminary information about the developer, project, Agreement for Sale, allotment letter issued after purchase transaction's registration, carpet area, defect liability period, etc. Based on this information, a purchaser makes a decision to buy a certain residence or not. Therefore, keeping homebuyers' interests at the core, MahaRERA has made this training and certification mandatory.
The high pass percentage of 87% in the fifth edition of the Real Estate Agents examination is a testament to the growing awareness and importance of RERA certification among agents in Maharashtra.
Frequently Asked Questions
What is the pass percentage of the 5th edition of Real Estate Agents examination?
87%
How many candidates cleared the 5th edition of the exam?
4,165
What is the total number of candidates who have qualified to become real estate agents so far?
13,370
Why has MahaRERA made training and certification mandatory for real estate agents?
To keep homebuyers' interests at the core and to ensure that agents are well-versed in the provisions of the RERA Act
What is the consequence for agents who failed to meet the mandatory requirements of training and certification?
Their registration will be suspended, and they will be prohibited from transacting in the sector until they meet the specified conditions
Tags:
Related News Articles
India's Real GDP Growth Projected at 7% for FY25
The Reserve Bank of India (RBI) has projected India's real GDP growth at 7% for FY25
Budget 2024: A Boost to Sustainable Growth in Real Estate
The Union Budget 2024 focuses on MSMEs, employment, skilling, youth, and middle-class, with indirect benefits to the real estate sector through job creation, infrastructure, and urban redevelopment.
Mumbai's Light Vehicle Toll Waiver to Boost Real Estate in Key Suburbs
This decision is expected to benefit over 600,000 vehicles that pass through Mumbai daily, with 80% being light motor vehicles like cars, vans, and small trucks. The toll waiver will make travel more convenient and affordable, enhancing the real estate ap
Godrej Properties Acquires 53-Acre Land in Kolkata for ₹500 Crore Revenue Potential
Godrej Properties Ltd., a leading real estate developer based in Mumbai, has announced the acquisition of a 53-acre land parcel in Joka, Kolkata. This strategic move is expected to generate a revenue potential of ₹500 crore for the company.
Elon Musk Eyeing Luxury Mansion Near Trump's Mar-a-Lago in Palm Beach
Elon Musk, the tech billionaire, is rumored to be considering the purchase of a luxurious mansion in Palm Beach, close to Donald Trump's famed Mar-a-Lago club. This potential acquisition would put him in the heart of one of the most exclusive and prestigi
Birla Acquires 71-Acre Land Plot Near Mumbai for Over Rs 1.04 Billion
The land will be used for future real estate development projects.