Tuesday 12 March 2024

Maharashtra RERA Cracks Down on Uncertified Agents, Cancels Registrations of 13,785

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken a firm stance on ensuring qualified professionals operate in the state's real estate sector. In a significant move, MahaRERA has cancelled the registrations of a staggering 13,785 real estate agents who failed to renew their licenses issued back in 2017.

These delisted agents will not be able to operate as property brokers until they complete mandatory training and obtain the necessary certification from MahaRERA. This action underscores the regulator's commitment to promoting professionalism and compliance within the industry.

To ensure transparency, MahaRERA has made the list of these delisted agents publicly available on its website. The data reveals a regional distribution, with the highest number of affected agents concentrated in major cities. Mumbai and its suburbs saw the most cancellations at 6,291, followed by Thane at 3,075 and Pune at 2,349.

While the cancellation figures are substantial, it's important to note that new agents are continuously entering the market. However, the overall number of registered real estate agents has dwindled due to the lack of license renewal by a significant portion of the existing workforce.

This crackdown coincides with MahaRERA recently conducting the fourth round of examinations for aspiring real estate agents. The exam witnessed participation from 1,767 candidates, of which 1,527 successfully cleared it. This signifies a continued influx of fresh talent seeking to become certified professionals in the state's real estate sector.

MahaRERA's actions serve a dual purpose. Firstly, it ensures that property buyers and sellers have access to qualified and trained agents who can provide them with informed guidance throughout the real estate transaction process. Secondly, it elevates the professional standards within the industry, promoting ethical practices and fostering trust among stakeholders.

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