In order to get property brokers on board, the Maharashtra Real Estate Regulatory Authority (MahaRERA) is planning to issue a notification, asking over 1lakh property brokers across the state to get themselves registered at the earliest.
As of now, just about 12% of the brokers have registered themselves with the authority. Statistics available with the Confederation of Real Estate Brokers Association of India’s (Crebai) Maharashtra chapter reveal that 7,000 property brokers have registered with MahaRERA and it now wants to make registration of the brokers compulsory.
Crebai members, however, said with nearly 80% of the brokers dealing with secondary or re-sale property, there is a hesitation among them for the registration. Rules state that only a Maha-RERA-registered broker can market newly registered projects.
Crebai-Maharashtra president Milind Kamdar said that most real estate brokers were hesitant to get registered, a few of them are involved in new or the ongoing projects. He said, “If there’s a notification, it will become mandatory for them to get registered.”
During the national conference that concluded in Mumbai on January 9, MahaRERA chairman Gautam Chatterjee had expressed concern over the dismal registration of the brokers.
Rajan Anthony, a real estate broker registered with MahaRERA in the Bavdhan area, said real estate brokers have to pay Rs 10,000 each for registration in their individual capacity. But they are expected to pay Rs 1 lakh when they are part of a firm or a partner in it. Kamdar said they have raised the issue with MahaRERA.
The Real Estate (Regulation and Development) Act, 2016 came into effect in Maharashtra from May 1last year. Real estate brokers marketing new projects are under its purview.
Homebuyer Madhav Mishra said many brokers often make lofty promises to attract consumers. He said, “The market is unregulated. The consumers will be benefited if they get registered.”