A bitter situation will arise for Realty Sector brokers from Maharashtra because MahaRERA has decided to jump down censurable broker’s throat by issuing notice for property brokers’ registration soon. Some facts and statistics have been disclosed by Confederation of Real Estate Brokers Association of India’s (CREBAI) Maharashtra which stated that; until now, 7,000 property brokers have already registered with MahaRERA. Hence, it can be drawn from above-mentioned facts that as of now, the registration process of 12% Real Estate brokers has been done with the authority.  

The chairman of MahaRERA, Gautam Chatterjee has expressed concern over this bleak registration statistics of the brokers. These figures showcase very poor registration numbers thus MahaRERA will be going to do broker’s registration mandatory. This obligatory process of registration comes in the wake of flout brokers’ wrongdoings. It has seen that many brokers make sky-high promises to lure more homebuyers without even registering themselves under RERA Act. To curb such malpractices they need to compel for doing registration formalities. There are almost 1 lakh and odd property brokers which are yet to register. In spite of that Confederation of Real Estate Brokers Association of India’s (CREBAI) is aware of broker’s limitations and problems. In a statement, which is given by CREBAI, it said that there are approx 80% of the brokers who are dealing with re-sale and secondary property and they are hesitant to register themselves under this act; however, RERA rules stipulate that only a certified (Maha-RERA-registered) broker can market newly registered projects. Since the issuance of notification of mandatory broker’s registration is on its way, they will be liable to register to persist in Realty Sector.  There are certain numbers for real estate brokers marketing new projects which are under the Real Estate (Regulation and Development) Act, 2016 purview and this act was introduced in Maharashtra on 1 May 2017.

On the contrary, brokers have their certain requests to MahaRERA. Brokers are not settled with the disparity in registration fees. A certified real estate broker, Rajan Anthony stated that why is the huge difference in registration fees structure in the same state moreover in the same sector (Realty Sector)? For individual registration, real estate brokers need to pay Rs. 10,000 each but in “other than individual” case they shall pay a lofty amount of Rs. 1 lakh. In the era of RERA only authentic brokers and builders will be able to luxuriate in the Realty sector.

tags MahaRERA      CREBAI   Maha-RERA-registered      Realty Sector