May 23 (Punjab Khabarnama) : Maharashtra’s real estate regulator (Maharera) on Thursday suspended the registration of 20,000 real estate brokers. Due to this, the number of registered agents in the state has come down to only 13,000. The regulator had started registration of intermediaries for property transactions in 2017. It had a total of 47,000 agents registered. Earlier this year, it had canceled the registration of 13,785 agents for not renewing their licenses.
According to the official statement, registration of an additional 20,000 agents has been suspended for one year for not obtaining MahaRERA’s Real Estate Agent Eligibility Certificate or not sharing (uploading) the certificate on the monitoring body’s website. The licenses of these 20,000 agents can be renewed if they complete the training, obtain the eligibility certificate and share the same on the platform within a year.
An official said that around 5,500 new candidates are likely to apply next month to be registered as agents. The body’s chairman Ajay Mehta said that an agent plays an important role. It is important for them to be well versed with the Real Estate (Regulation and Development) Act 2016. He said, ‘Maharera has made it mandatory for agents to undergo training, pass exams and obtain certification. This decision was taken on January 10, 2023, which was made mandatory for all agents on January 1, 2024.
He said that despite this, about 20,000 agents working are still not eligible. His approval has been suspended. Mehta cautioned that the regulator will not hesitate to cancel the registration of developers who continue to associate with ineligible agents.
