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
Rohan Builders Achieves Unparalleled Excellence with 14 Consecutive Years of CRISIL DA2+ Grading
Rohan Builders continues to maintain its prestigious DA2+ Developer Grading from CRISIL, demonstrating its commitment to excellence in financial and operational parameters.
Sebi Chief Remains Tight-Lipped on Real Estate Investment Trusts
REITs comprise a portfolio of commercial real estate assets, most of which are already leased out.
PGA of America Launches State-of-the-Art Golf Courses in Mumbai, Navi Mumbai, and Hyderabad
AIVOT Golf & Sports Management collaborates with Shapoorji Pallonji Real Estate, Stonecraft Group, and Tvastar Golf to introduce PGA of America-branded golf courses in Mumbai, Navi Mumbai, and Hyderabad, setting a new standard for golf excellence in India
Raymond Expands Real Estate Footprint with Mahim Project Deal
Raymond, in a strategic move, has signed a Joint Development Agreement for a prestigious residential project in the prime location of Mahim West, Mumbai.
Amrita Singh, Zaheer Khan Among Celebrities Investing in Mumbai's Luxury Real Estate
Amrita Singh and Zaheer Khan are among the latest celebrities making significant investments in Mumbai's luxury real estate market. Discover the trends and insights of these high-profile investments.
SP Group Raises $3.3 Billion from Five Funds to Boost Real Estate and Construction Projects
SP Group secures a significant $3.3 billion investment from five prominent funds, aimed at refinancing and expanding its real estate and construction projects. This strategic move will help the company solidify its position in the market and drive sustain