Revolutionizing Real Estate: MahaRERA’s Bold Mandates for Real Estate Agents

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By Keval Valambhia,

Chief Operating Officer @ Maharashtra Chambers of Housing Industry

In a monumental move to reshape the real estate landscape, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has wielded its authority to introduce a slew of groundbreaking directives that are set to transform how real estate agents operate. With the real estate sector often plagued by opacity and uncertainty, MahaRERA’s latest mandates are like a breath of fresh air, ushering in an era of transparency, accountability, and consumer empowerment.

The corridors of the real estate world resonated with a powerful shift as MahaRERA unveiled a series of directives that every registered real estate agent must heed. These directives, aimed at safeguarding the interests of home buyers and streamlining the sector, underscore the authority’s unwavering commitment to redefining the rules of the game.

The clarion call from MahaRERA comes with a resounding echo: “No unregistered properties shall pass through the gates of facilitation.” In a resolute stand, MahaRERA’s directive mandates that registered real estate agents are prohibited from brokering the sale or purchase of any plot, apartment, or building that is not duly registered with the MahaRERA authority. This shift injects a potent dose of legitimacy into the sector, eradicating room for ambiguity and unscrupulous dealings.

Building on this foundation of transparency, real estate agents are now bound to inscribe the registration number on all documents pertaining to advertisements, marketing, selling, or purchasing. This move transforms every piece of information into a testament of authenticity, providing buyers with a compass of confidence in their real estate journey.

And it doesn’t end there. MahaRERA’s visionary stance on technology integration has given birth to a real estate revolution. A Quick Response Code (QR Code) now stands as a gateway to comprehensive project information for home buyers and allottees. In a world driven by instant access to information, MahaRERA’s introduction of QR codes for each registered project embodies a bold step towards enhanced consumer empowerment. Starting August 1, 2023, these QR codes will adorn every registered project promotion and advertisement, illuminating the path for seekers of their dream homes.

A consequence awaits those who neglect to embrace this revolution. MahaRERA’s order stands unwavering: failure to display the QR code on promotional materials will incur penalties, as defined in the presciently detailed order no. 46A/2023. With fines potentially extending up to Rs. 50,000 under section 65 of the Act, MahaRERA’s message to agents is clear – compliance is not an option, but an imperative.

In this era of visual communication, the QR codes will not just be symbols; they will be lifelines. Each QR code, meticulously designed for legibility, readability, and software detection, will stand proudly beside the MahaRERA project registration number, guiding home seekers towards the path of authenticity and clarity.

But MahaRERA’s mandates transcend fines and codes. With a palpable determination, the authority has declared that non-compliance will not be tolerated. Agents who fail to rectify their transgressions within ten days of being penalized will find themselves in a vortex of repercussions. MahaRERA has made it unequivocally clear that continuous violations will be met with actions as deemed necessary under the relevant provisions of the Act.

The MahaRERA on 21/08/2023 vide Order no. MahaRERA/Secy/27/1125/2023 has mandated the following directions for all the registered real estate agents :

1) As per section 10(A) of the Act, a registered real estate agent can not facilitate the sale of purchase of any plot, apartment of building which is not registered with the MahaRERA authority.

2) Real Estate agents to quote the registration number in all the documents relating to advertisement, marketing, selling or purchase issued by the real estate agent along with the number of registration certificates of the said real estate project.

3) MahaRERA has introduced Quick Response Code (QR Code) for each registered real estate project to assist home buyers / allottees to get real estate project information. MahaRERA order no. 46/2023 informed all the concerned on 29/05/2023 about the introduction of the QR code for each and every registered project. It further said from 01/08/2023, promoters of all real estate projects to prominently display the QR codes on each and every registered real estate project promotions / advertisements in a visible manner.

4) MahaRERA, vide order no. 46A/2023 dated 25/07/2023 has prescribed the penalty that would be imposed upon the promoters for non display of QR code on real estate project promotions / advertising materials.

5) From today, i.e. 21/08/2023 MahaRERA has mandated all real estate agents to prominently display the QR codes on each and every real estate project promotion / advert published in the mediums as more specifically listed in MahaRERA Order No. 46/2023, dated 29.05.2023.

6) The QR code published shall be legible, readable and detectable with software application and shall be published besides MahaRERA project registration number.

7) Failure to comply with (5) and (6) above, shall be construed as violation of the directions issued by the MahaRERA and penalty which may extend upto Rs. 50000/- under section 65 of the Act shall be imposed upon the real estate agents for each such violations.

8) Upon imposition of the penalty if the real estate agent fails or neglects to rectify and remedy the violation wihin 10 days, shall be construed as a continuous violation of the directions issued by the MahaRERA and appropriate actions as deemed fit shall be taken against such real estate agents under the relavant provisions of the Act.

In a sector known for its labyrinthine complexities, MahaRERA’s directives shine like beacons of hope, simplifying processes, amplifying transparency, and underlining a commitment to consumer welfare. As real estate agents navigate this new terrain, MahaRERA’s bold mandates remind us that the winds of change are sweeping across the industry, heralding an era of accountable, responsive, and transparent real estate dealings.

As posted by him on his LinkedIn in page.  : read here

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