News Room

  Mumbai, 5th August 2024: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has released the results for the 5th edition of its Real Estate Agents examination. Out of 4,769 candidates who took the test, 4,165 have passed, achieving a pass rate of 87%. In comparison, the pass percentages for previous examinations were 96% for the 1st edition, 93% for the 2nd, 89% for the 3rd, and 86% for the 4th. Among the successful candidates in the latest examination, there are 3,553 males and 612 females. Notably, 196 of the passed candidates are senior citizens, with 12 of these being women. Sharad Mota from Mumbai and Divyesh Maheshwari from Pune both achieved perfect scores, sharing the top rank in this examination. Since the inception of the exams, a total of 13,370 candidates have qualified as real estate agents across five editions. This includes the 4,165 from the latest exam, 405 from the first edition, 2,812 from the second, 4,461 from the third, and 1,527 from the fourth. As part of its ongoing efforts to professionalize the sector, MahaRERA has mandated training and certification for both new agents and those seeking renewals. As of January 10, 2023, MahaRERA’s order requires all agents to undergo this training. Currently, there are approximately 47,000 registered agents with MahaRERA. Of these, 13,785 had their registrations canceled due to non-renewal. Additionally, by the end of April, MahaRERA suspended the registrations of over 20,000 agents who did not meet the mandatory training and certification requirements by December 31. These agents are now barred from conducting transactions until they fulfill the necessary conditions. Real estate agents play a critical role in connecting homebuyers with developers, often serving as the initial point of contact and providing essential information about projects. Given their pivotal role, it is crucial for agents to be knowledgeable about the RERA Act and provide accurate, clear, and reliable information regarding developers, projects, sale agreements, allotment letters, carpet area, and defect liability periods. MahaRERA’s training and certification requirements are designed to ensure that agents are well-equipped to serve the interests of homebuyers effectively.  

  Mumbai, June 8, 2024 – Renowned actress Tripti Dimri, acclaimed for her role in the film “Animal,” has made headlines with the purchase of a prestigious ground-plus-two-storey bungalow off Carter Road in the Bandra West district of Mumbai. The property acquisition, valued at ₹14 crore, was registered on June 3, 2024, as revealed by property registration data obtained from IndexTap.com.   The bungalow, featuring a total area of 2,226 square feet of land and 2,194 square feet of built-up space, marks a significant investment for Dimri. The transaction included a stamp duty payment of ₹70 lakh and registration fees of ₹30,000. The property’s previous owners, Cedric Peter Fernandes and Margaret Annie Marie Fernandes, facilitated the sale.

  Bollywood actor Shahid Kapoor and his wife Mira have bought a luxury sea-view apartment in Mumbai’s prestigious Oberoi 360 West project in Worli. The apartment, measuring 5,395 square feet, was purchased for ₹58.66 crore and registered on May 24, 2024. This is their second property in the high-rise developed by Oberoi Realty. The apartment includes three parking spaces and offers stunning views. It was acquired from Chandak Realtors Pvt Ltd, who bought it in a bulk deal in 2023. The Kapoors’ purchase highlights the strong demand for high-end residences in Mumbai.

Bollywood actor Shahid Kapoor and his wife Mira have bought a luxury sea-view apartment in Mumbai’s prestigious Oberoi 360 West project in Worli. The apartment, measuring 5,395 square feet, was purchased for ₹58.66 crore and registered on May 24, 2024. This is their second property in the high-rise developed by Oberoi Realty. The apartment includes three parking spaces and offers stunning views. It was acquired from Chandak Realtors Pvt Ltd, who bought it in a bulk deal in 2023. The Kapoors’ purchase highlights the strong demand for high-end residences in Mumbai.

Mumbai, 31st July 2024: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken a significant step towards enhancing transparency and accountability in the real estate sector by mandating that developers specify deadlines for the delivery of facilities and amenities in housing projects. This directive, announced today, aims to address long-standing concerns about the availability of promised amenities and ensure that homebuyers receive what they were promised. According to the new regulation, developers must include a detailed schedule of facilities and amenities in Annexure-I of the Agreement for Sale. This annexure, part of the official sales document registered with the government, will now outline the delivery dates for various amenities such as swimming pools, tennis courts, gymnasiums, clubhouses, and more. The directive is designed to prevent developers from delaying or neglecting the promised features of a project. “In the past, developers often advertised attractive amenities but failed to deliver them in a timely manner,” said Ajoy Mehta, Chairman of MahaRERA. “Our new regulation requires developers to specify when these facilities will be available. This change will provide homebuyers with clarity and ensure that developers are held accountable for their commitments.” The new rule also addresses projects that are developed in multiple phases. Developers are now required to provide phase-wise timelines for the completion of amenities, ensuring that residents of earlier phases are informed about the availability of facilities. This provision is intended to prevent frustration among residents who might otherwise be left waiting for promised amenities until the final phase of construction. Furthermore, any major changes to the location or number of facilities will require approval from MahaRERA. If the changes affect the amenities significantly, developers must obtain consent from two-thirds of the affected residents. This measure is designed to prevent unilateral alterations that could impact the quality of life for residents. The new regulations will be applicable to all registered housing projects with immediate effect. Existing Agreements for Sale will remain in force as per their original terms, but the new provisions will apply to all future transactions. MahaRERA has also introduced a model format for Annexure-I to assist developers in complying with the new requirements. Previously, the Agreement for Sale focused primarily on the cost of the apartment, payment plans, and penalties for defaults. It did not include specific details about the timing of amenities, often leading to discrepancies between what was promised and what was delivered. “This measure will eliminate the uncertainty surrounding the availability of amenities,” Mehta added. “Just as developers are obligated to deliver apartments on time, they will now be required to meet deadlines for amenities. This will enhance transparency and protect the interests of homebuyers.”

Mumbai, July 25, 2024 – Renowned actor-director R Madhavan has made a significant investment in Mumbai’s real estate market by purchasing a luxurious residential property in the prestigious Bandra Kurla Complex (BKC). The apartment, valued at Rs 17.5 crore, reflects Madhavan’s continued success and growing portfolio. The property, located in the upscale Signia Pearl complex, spans approximately 389 square meters (4,182 square feet) and includes two dedicated parking spaces. The high-rise residence is situated in a prime corporate neighborhood and offers high-end amenities for an exclusive lifestyle. The sale deed for the apartment was finalized on July 22, 2024. The purchase incurred a stamp duty of Rs 1.05 crore and a registration fee of Rs 30,000. The apartment is ready for immediate occupancy, providing Madhavan with a new Mumbai address in one of the city’s most sought-after locales. Madhavan, who is currently enjoying the success of his film Shaitaan with Ajay Devgn, continues to expand his horizons in the entertainment industry. Following his acclaimed directorial debut with Rocketry: The Nambi Effect, he is set to appear in S. Sashikanth’s debut film Test, a sports drama also featuring Nayanthara and Siddharth. Additionally, Madhavan has several other projects lined up, including Mithran R. Jawahar’s family drama, biopics of Gopalswamy Doraiswamy Naidu, Chempakaraman Pillai, C. Sankaran Nair, and Swati Singha’s science-fiction film G. About R Madhavan: R Madhavan is a celebrated Indian actor and director known for his versatile roles in both Bollywood and Tamil cinema. He has received several accolades for his performances and continues to be a prominent figure in the film industry.