MahaRERA's Exam Clears 87% of Real Estate Agents in Maharashtra
A significant majority of real estate agents in Maharashtra have cleared the mandatory exam conducted by MahaRERA, paving the way for a more professional and informed industry.
Real EstateMahareraExamAgentsMaharashtraReal EstateAug 05, 2024
Of the 4,165 candidates who cleared the exam, 3,553 are men and 612 are women. Interestingly, 196 of the qualified agents are senior citizens. This development comes after MahaRERA issued an order in January last year, making it mandatory for real estate agents to undergo training and get certified.
According to MahaRERA, real estate agents play a crucial role in the homebuying process, serving as a link between homebuyers and developers. As such, it is essential for agents to be well-versed in the provisions of the RERA Act, including aspects such as the developer's credibility, land titles, RERA-compliant carpet area, and approvals from local authorities.
A real estate agent's knowledge and expertise can significantly impact a homebuyer's decision to make a purchase. Therefore, MahaRERA has emphasized the importance of agents being trained and certified to provide accurate and reliable information to potential homebuyers.
In a related development, MahaRERA has cancelled the registration of 13,785 agents due to non-renewal, including some who cancelled their own registration. Additionally, the regulatory body suspended the registration of over 20,000 agents who failed to meet the mandatory requirements of training and certification by December 31.
The real estate industry in Maharashtra is expected to benefit from this development, with more professional and informed agents providing better services to homebuyers.
Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken a significant step towards regulating the real estate industry in the state. With the majority of agents clearing the mandatory exam, homebuyers can expect to receive more accurate and reliable information about projects.
Frequently Asked Questions
What is the significance of the exam conducted by MahaRERA for real estate agents?
The exam is mandatory for real estate agents in Maharashtra, and its significance lies in ensuring that agents are well-versed in the provisions of the RERA Act and can provide accurate and reliable information to homebuyers.
How many agents have cleared the exam so far?
A total of 13,370 agents have cleared the exam, with 4,165 clearing the fifth exam conducted by MahaRERA.
What happens to agents who fail to meet the mandatory requirements of training and certification?
Agents who fail to meet the mandatory requirements will have their registration suspended or cancelled by MahaRERA.
Why is it important for real estate agents to be trained and certified?
Trained and certified agents can provide accurate and reliable information to homebuyers, which is crucial in the homebuying process.
How will the real estate industry in Maharashtra benefit from this development?
The industry is expected to benefit from more professional and informed agents providing better services to homebuyers.
Related News Articles
Affordable Housing Revolution in Mumbai: Green City Neral Leads the Way
Discover how Green City Neral is transforming affordable housing in Mumbai, offering 1 BHK flats at ₹14.99 lakh with PMAY subsidy and zero-stamp duty.
Dubai Rental Market Sees Significant Surge in 2024
The real estate market in Dubai is experiencing a significant surge in 2024, driven by high demand and a growing professional population. This organic growth is further fueled by rising property values and new developments, with a projected 6.2% increase
Israeli Stock Market Declines as Biomed Real Estate and Tech Sectors Struggle
On Sunday, the Israeli stock market took a downturn, primarily due to losses in the Biomed Real Estate and Technology sectors. The overall decline reflects growing concerns in these key industries.
BDA Plans to Develop Six New Layouts in PRR-2 Project
The Bangalore Development Authority (BDA) is set to unveil six new layouts as part of the PRR-2 project, aiming to enhance urban infrastructure and create more residential and commercial spaces in the city.
CREDAI-MCHI to Launch India's First Quick Real Estate Mall at 32nd Property Show
Mumbai (Maharashtra) [India], December 30: CREDAI-MCHI, the leading association of real estate developers in the Mumbai Metropolitan Region (MMR), is set to unveil India's first-ever Quick Real Estate Mall at their 32nd Property Show. This innovative init
Priyanka Chopra Sells Four Luxury Apartments in Mumbai for Rs 16.17 Crore
Priyanka Chopra Jonas has made headlines with a significant real estate deal in Mumbai, selling four luxury apartments in Andheri West for Rs 16.17 crore.