Only 12 per cent property brokers registered under RERA

Despite extending deadlines, barely 12 per cent property brokers in Maharashtra have registered under the MahaRERA, the state real estate regulatory authority. "RERA registration comes with a status for brokers in the industry. There are above one lakh brokers in Maharashtra but only 12,000 are registered," MahaRERA Chairman Gautam Chatterjee said at the National Convention for Brokers organised by SAI Estate Consultants and the Confederation of Real Estate Brokers Association of India here. Appealing to the broker community to get registered, he said, "By registering, you will have that status, and it will help you to generate more revenue in future. RERA registration is the license symbol for all brokers, projects and developers." The Real Estate (Regulation and Development) Act, 2016 came into effect in Maharashtra from May 1 last year.