In a significant move, the Maharashtra Real Estate Regulatory Authority (MahaRERA) announced the suspension of registration for approximately 20,000 real estate agents across the state for failing to obtain the MahaRERA Real Estate Agent Certificate of Competency.
This suspension, effective for one year, bars these agents from participating in any real estate transactions, marking a substantial setback for nearly 42% of the total registered agents in Maharashtra.
The Certificate of Competency, mandated by MahaRERA since January 2023, requires agents to undergo training and pass an examination to ensure compliance with industry standards. Despite repeated extensions, a large number of agents failed to fulfill this requirement, prompting MahaRERA’s decisive action.
Chairman of MahaRERA, Ajoy Mehta, reiterated the authority’s commitment to enforcing these regulations, warning developers against engaging with unqualified agents. With stringent consequences for non-compliance, MahaRERA aims to uphold transparency and professionalism in Maharashtra’s real estate sector.
