Mumbai:

Maharashtra’s realty regulator at the moment stated it has suspended the registration of 20,000 actual property brokers, leaving solely 13,000 such registered brokers within the state.

There have been a complete of 47,000 brokers registered with the regulator, which started the registration of the middlemen for property transactions in 2017.

Earlier this yr, it cancelled the registration of 13,785 brokers for not renewing their licenses.

The registrations of a further 20,000 brokers have been suspended for one yr for not acquiring MahaRERA’s actual property agent certificates of competency or not importing the certificates on the watchdog’s web site, an official assertion stated.

Licenses of those 20,000 brokers will be renewed in the event that they full coaching, receive the certificates of competency, and add the identical on the portal inside a yr, it added.

In line with an official, about 5,500 new candidates are more likely to seem for the examination to get registered as brokers subsequent month.

The physique’s chairman Ajoy Mehta stated an agent performs an necessary position and it’s important for them to be well-versed with the Actual Property (Regulation and Growth) Act, 2016 regulation.

“MahaRERA has made it necessary for brokers to endure coaching, clear the examination, and acquire certification. This choice was taken on January 10, 2023, and was prolonged a number of occasions earlier than lastly changing into binding for all brokers on January 1, 2024,” he stated.

Regardless of this, round 20,000 brokers working are nonetheless unqualified and their approval was suspended, he stated, warning that the regulator won’t hesitate to cancel the registration of builders who will proceed to interact with the unqualified brokers.
 

(Apart from the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)