20,000 real estate agents’ registrations are suspended by MahaRERA.

MUMBAI: Only 13,000 real estate brokers remain in the state of Maharashtra after the real estate authority in the state announced on Thursday that it has suspended the registration of 20,000 brokers.

The regulator, which started registering middlemen for real estate transactions in 2017, has 47,000 agents registered in total.13,785 agents had their registrations canceled earlier this year for failing to renew their licenses.

An official estimates that approximately 5,500 new applicants will probably show up for the test in order to register as agents the following month.

It further said that the licenses of these 20,000 agents may be renewed if they completed their training, obtained their certificates of competency, and uploaded them to the internet within a year.

About 5,500 new applicants are anticipated to show up for the exam in order to register as agents next month, according to an official.

Ajoy Mehta, the chairman of the organization, stated that agents must be familiar with the Real Estate (Regulation and Development) Act, 2016 regulations because they have a significant role to play.

MahaRERA has mandated that agents complete the required training, pass the test, and become certified. This decision was made on January 10, 2023, and it was postponed several times until going into effect on January 1, 2024, for all agents, the spokesperson stated.

He warned that if developers continue to work with untrained agents, the regulator will not hesitate to remove their registration. Approximately 20,000 agents are currently functioning without proper qualifications, and their approval has been stopped.