MahaRERA new Guidelines/Directive for Real Estate Agents

MahaRERA new Guidelines/Directive for Real Estate Agents

New Guidelines for Real Estate Agents

In Recent days MahaRERA has released many guidelines or directives which one needs to be follow
as Real Estate Agent. RERA enacted with the aim to bring transparency in the dealing of buying and
selling of real estate. Even today many transactions in Real Estate happened with the help of Real
Estate Agent. They share major chunk of transaction in Real Estate Sector even today.

The most important guidelines relating to Real estate training and certification which have causes
several buzz among many Real estate agents are explained below:

Roadmap for Implementation as per MahaRERA order

Commencement of real estate agent trainingFebruary 2023 onwards
Commencement of online examinationsApril 2023 onwards
Mandatory requirement of valid real estate
agent certification for new registration /
renewal
With effect from 01.05.2023
Existing registered real estate agents to obtain
MahaRERA real estate agent certificate of
competency
With effect from 01.09.2023

Real Estate Agent Training Details

a) Eligibility of training

The Training shall be applicable for:

  • All individual real estate agents in case of individuals and authorized signatory
    (authorized for making application for MahaRERA real estate agent registration) in
    case of firms / companies / organizations (Other than Individuals).
  • All employees / staff / officers by whatever designation called working in firms /
    Companies /organizations of real estate agents, who interact with homebuyers /
    allottees for effecting transactions in real estate projects
  • AII real estate agents registered with MahaRERA.

 

b) Training mode, duration & other details

All modes of training shall be made available by the empaneled training providers which shall be as
follows:

  • ¬†Online
  • Offline (Physical)
  • Hybrid (Online + Physical)

c) Examination

  • The examination registration process shall commence from March 2023 and examinations
    shall commence from April 2023 onwards.
  • The examination pattern will be Multiple Choice Questions with four options for each
    question. There shall be tentatively 50 questions (2 marks each) amounting to 100 marks.
    The passing marks shall be 40 marks.
  • Examinations shall be held in English and Marathi
  • Examination fees: Maximum fees to be levied for registration of examination shall not
    exceed Rs. 1500/- (excluding GST)

d) Certification

  • On successful passing of examination, the candidates shall be provided certification i.e. a
    Certificate of Competency shall be issued with unique certification number.
  • The certification number shall be required to be mentioned for registration / renewal or
    continuation of registration of real estate agents with the Authority.

Submission of Half yearly reports by MahaRERA registered Real estate agents:

  1. MahaRERA registered real estate agent shall upload on their respective web page half-yearly
    progress report in the Format as prescribed in Form- 6 annexed hereto as Annexure ‘A’.
  2. The half yearly progress report shall be uploaded by ever), registered real estate agent on
    their respective web page as per financial calendar half year period which shall be (a) April
    to September and (b) October to March.
  3. MahaRERA registered real estate agent shall upload on their respective web page the half
    yearly progress report for the financial calendar half year period “April to September” on or
    before 20th October and for the financial calendar half year period “October to March” on
    or before 20th of April.
  4. In the event the half yearly progress report in the manner and as per the timelines
    mentioned above is not submitted, action as deemed fit shall be initiated by the Authority.
  5. The half yearly progress reports except the portion marked ‘*’ in Form 6 shall be made
    available for public viewing to enable greater transparency and citizen empowerment.
  6. This order shall come into force with effect from 01.04,2023 and in view thereof the first half
    yearly progress report for the period April 2023 to September 2023 shall be uploaded by
    every registered real estate agent on their respective web page on or before 20.10.2023.

(For formats of Half Yearly reports kindly connect to us through various available medium).

Author Bio:

Name: CA Karan Singh
Qualification: CA in Practice
Contact info: 8087397644
Company: Bashmakh & Co
Location: Shill, Thane.

Disclaimer: This is meant purely for general education purposes. While the information is believed to be
accurate to the best of my knowledge, I do not make any representations or warranties, express or implied, as
to the accuracy or completeness of this information. Readers should conduct and rely upon their own
examination and analysis. This note is not an offer, invitation, advice or solicitation of any kind. I accept no
responsibility for any errors it may contain, whether caused by negligence or otherwise or for any loss,
however caused or sustained, by the person who relies upon it. This information provided is for the intended
recipient for knowledge and guidance purpose only.

Comments

No comments yet. Why don’t you start the discussion?

    Leave a Reply

    Your email address will not be published. Required fields are marked *