The Maharashtra Real Estate Regulatory Authority (MahaRERA) has de-registered a significant number of property brokers, totaling 18,693, as part of its ongoing efforts to enforce greater transparency and professionalism within the real estate sector. The de-registration primarily stems from failures to renew licenses and non-completion of mandatory training and certification.
Of the de-registered agents, approximately 2,463 are from Mumbai city, 5,538 from Mumbai suburban areas, 4,303 from Thane, and 3,476 from Pune. The move reflects a robust regulatory push to ensure that property agents meet the required standards of professionalism, particularly in an industry that plays a critical role in real estate transactions across the state.
Since the inception of MahaRERA in May 2017, over 50,000 agents have registered with the authority. As of now, more than 31,000 registrations remain active. The deregistrations come as part of efforts to bring discipline to the intermediary segment, with agents required to undergo training and certification on key aspects of the Real Estate (Regulation and Development) Act, 2016. These include the model sale agreement, carpet area, allotment letters, and defect liability periods, crucial information that agents must communicate to homebuyers.
MahaRERA’s latest regulatory measures have also mandated that all agents hold a valid certificate from the authority to operate, a rule that was implemented in January 2024. This certification is now a prerequisite for both new registrations and renewals, with stringent actions promised for non-compliance. This is a significant step, as MahaRERA is the first state-specific real estate regulator to require such certification for property brokers.
In addition to Maharashtra’s active property market, the state also leads in the number of registered agents, with the Konkan region, including the Mumbai Metropolitan Region, having the highest concentration at 21,050. Agents from over 150 cities outside Maharashtra have also registered with MahaRERA, highlighting the state's critical role in the real estate landscape.
The de-registration of non-compliant brokers signals that MahaRERA is serious about its regulatory framework, ensuring that all real estate agents are not only registered but also adequately trained and certified, fostering trust and transparency in the industry.