MahaRERA suspends nearly 20,000 agents for lack of competency certificates

Important points:

Mandatory Certification: From January 1, it will be mandatory for all real estate agents to undergo training, pass a competency test and upload their certificates on the MahaRERA portal. Failure to comply will result in a one-year suspension.

Authority statement: Ajoy Mehta, Chairman, MahaRERA, stressed the importance of realtors being well versed with industry regulations, including the Real Estate (Regulation and Development) Act, 2016. He pointed out that realtors play a crucial role in providing basic project information to property buyers and they need to be well versed in various legal and regulatory aspects.

Enforcement and compliance: Mehta warned that developers working with unqualified agents will face cancellation of their registration. He stressed that developers should ensure that their agents are certified and comply with MahaRERA regulations.

Reinstatement and Penalties: Agents who complete the required training and upload their competency certificates within one year will receive a renewal of their license. Failure to do so within this period will result in their registration being permanently cancelled and a six-month ban on reapplying.

Historical context: Since MahaRERA was established on May 1, 2017, about 47,000 agents have registered. However, earlier this year, MahaRERA cancelled the registration of 13,785 agents for not renewing their licenses. Some agents have also voluntarily sought to cancel their registration.

De-registration Procedure: In response to requests from agents wishing to terminate their registration, MahaRERA has introduced a de-registration procedure to accommodate these requests.

MahaRERA has issued detailed guidelines in a circular stressing the need for compliance and the consequences of non-compliance with the new certification standards. The authority’s stringent measures are aimed at ensuring that real estate agents are adequately trained and knowledgeable, which ultimately benefits home buyers and maintains industry standards.