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MahaRERA cancel registration of 20,000 real estate agents
Updated On: 23 May, 2024 11:20 AM IST | Mumbai | A Correspondent
One of the factors being non-uploading of Certificate of Competency on the regulatory authority’s website
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Starting January 1, 2024, real estate agents are mandated to undergo training, clear the examination and register their certificate as detailed out by the Maharashtra Real Estate Regulatory Authority (MahaRERA), failing which they will not be able to continue doing business.
So far, approximately 20,000 real estate agents have failed to fulfil the conditions as laid down by MahaRERA. One of the factors being non-uploading of Certificate of Competency on the regulatory authority’s website. Hence, registration in such cases has been suspended for a period of a year. If they complete the training, obtain the Certificate of Competency, and upload the same on the portal within a year, their license will be renewed. Those who do not follow the procedure within the stipulated time frame, their registration will stand cancelled after a year. Thereafter, for the next six months, they will not be able to apply for a fresh registration, which translates into being unable to deal in real estate transactions. Those found violating the rules will be subject to appropriate action.
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