89% of Candidates triumph in MahaRERA Real Estate Agents Examination

The Maharashtra Real Estate Regulatory Authority (MahaRERA) announced on January 27 that 6,755 candidates, or 89% of the total 7,624 who appeared, passed the real estate agent competency exam. The sixth phase of the examination was conducted on January 4, with Pune’s Praveen Kamble securing the highest score of 98%.

Of the successful candidates, 5,637 are male, and 1,118 are female. Additionally, 264 senior citizens cleared the exam, including 13 women. The eldest among them is 84-year-old Daulatsinh Gadhvi from Mumbai. Over 20,000 real estate agents have passed the exam since it began more than a year ago.

MahaRERA made training and certification mandatory for real estate agents in January 2023, requiring them to obtain a registration certificate. Failure to comply results in suspension of their registration. With approximately 47,000 registered agents across Maharashtra, MahaRERA suspended over 20,000 registrations in May 2024 for non-compliance.

The authority has also mandated real estate agents to submit half-yearly progress reports, detailing projects they are assigned to by developers. This measure aims to improve transparency and ensure accountability in the sector.

On January 18, MahaRERA issued guidelines for homebuyers, advising them to conduct due diligence before purchasing a property. Developers are obligated to submit quarterly progress reports to MahaRERA, which homebuyers can monitor via its website. Buyers are encouraged to raise complaints with MahaRERA if developers fail to meet their obligations.

These measures, including competency exams and guidelines, aim to professionalize the real estate sector and safeguard the interests of homebuyers while promoting transparency and accountability among real estate agents and developers.