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MAHA RERA TO ISSUE NOTICE FOR UNREGISTERED BROKERS.

THE MAHARASHTRA REAL ESTATE REGULATORY AUTHORITY (MAHA RERA) WILL ISSUE NOTICES TO OVER ONE LAKH BROKERS ACROSS THE STATE TO COMPLETE REGISTRATION UNDER THE REAL ESTATE REAL ESTATE (REGULATION AND DEVELOPMENT )ACT (RERA).

TILL NOW, ONLY 12 % OF THE TOTAL REAL ESTATE AGENTS IN THE STATE HAVE REGISTERED THEMSELVES WITH THE REGULATORY AUTHORITY.

OFFICIALS HAVE INFORMED THAT ABOUT 7000 AGENTS HAVE REGISTERED AS OF NOW.CONFEDERATION OF REAL ESTATE BROKERS ASSOCIATION OF INDIA (CREDAI) MAHARASHTRA URGES ALL BROKERS TO MAKE UNDER THE ACT.

IT HAS BEEN OBSERVED THAT NEARLY 80% OF THE TOTAL BROKERS DEALING WITH SECONDARY OR RESALE PROPERTIES ARE SKEPTICAL ABOUT THE REGISTRATION PROCESS. AS PER STATE RERA RULES, ONLY RERA CERTIFIED REALTY AGENTS CAN MARKET OR SELL HOUSING OR COMMERCIAL PROJECTS.

REAL ESTATE BROKERS HAVE SHARED THAT WE HAVE TO SUBMIT RS 10,000 FOR REGISTRATION UNDER THE ACT AS AN INDIVIDUAL.HOWEVER IF A BROKER IS A PART OF A FIRM, HE/SHE HAS TO SHELL RS 1 LAKH AS REGISTRATION FEE.

AS PER THE LATEST UPDATE AROUND 20,000 REAL ESTATE PROJECTS HAVE BEEN REGISTERED ACROSS INDIA UNDER THE NEW REAL ESTATE ACT. OUT OF ALL REGISTERED PROJECTS, MAHARASHTRA HAS A SHARE OF MORE THAN HALF OF THE COUNTRY’S REGISTERED PROJECTS.

 

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