Homebuyers In Maharashtra : At the deadline’s expiration, less than 10% of Maharashtra’s real estate agents have registered for the MahaRERA competence examinations. Buyers of real estate must search for agents who abide by MahaRERA’s regulations.

Since May 2017, all real estate agents must register with the regulating body under the MahaRERA.

In order for the state’s more than 44,000 registered real estate agents to obtain a MahaRERA Real Estate Agent Certificate of Competency before September 1, 2023, the Maharashtra Real Estate Regulatory Authority (MahaRERA) became the first real estate regulatory authority in the nation to mandate an online examination.

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However, fewer than 10%, or around 3,400 real estate agents in Maharashtra, have taken and passed this test to far. As a result, the MahaRERA is attempting to extend the deadline.

When a real estate agent passes the MahaRERA competence test, it confirms that they are qualified to practise as real estate agents. During the written examination, they are given multiple questions regarding consumer rights, the RERA Act, and other topics related to the real estate industry.

Homebuyers should bear the following considerations in mind while selecting a real estate agent as the holiday season. which will start with Ganesh Chaturthi, approaches.

Verify your MahaRERA registration:

As of May 2017, it is a requirement that all real estate agents register with the relevant regulating body. Real estate agents are required by MahaRERA to include their RERA registration number and QR code on all of their advertising materials.

Verify the agent’s participation in the competency test:

• All registered real estate agents were require to take a competency test by September 1, 2023. Under a MahaRERA rule that went into effect in January 2023. Only around 10% of the agents have applied for and passed the test, as was previously reported.
• Therefore, prospective homeowners should confirm that the real estate agent they are working with has passed the competency test.
• Homebuyers can ask real estate agents to provide this certificate if they pass the test; the MahaRERA will provide a certificate to each agent who passes.

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Homebuyers In Maharashtra : Check if agent has progress reports on projects

In February 2023, the MahaRERA issued a directive requiring real estate brokers to publish half-yearly progress reports starting with the 2023–24 fiscal years. MahaRERA required real estate agents to provide information on developer projects they are representing as well as other facts. Including transactions done in a specific real estate project. Except the individual financial gains, in the progress report.

All of these facts were to be uploaded on the individual websites maintain by the real estate agents. Therefore, prospective homeowners should confirm that the real estate brokers they are working with are abiding by the aforementioned MahaRERA rules.

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Verify the developer’s upload for the registered real estate agent’s contact information.

Buyers of real estate should be aware that MahaRERA laws require all real estate developers to work exclusively with registered and compliant real estate brokers.

On the MahaRERA website. The developers are also require to provide the contact information for the real estate brokers they want to work with on specific projects. Homebuyers may thus locate the names and contact information of real estate agents who comply with MahaRERA on these online pages.

Homebuyers In Maharashtra : Cross-check the details:

Before investing in a certain project, homebuyers should double-check all the information provided by real estate brokers with the MahaRERA website and the developers. The MahaRERA portal should also provide information on the developer and a number of other facts. Such as the carpet area, project completion date, amenities. And the status of any pending legal actions or requests for approval.

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