3.1 Maharashtra RERA Rules 2017 & Regulatory Notifications

3.1 Maharashtra RERA Rules 2017 & Regulatory Notifications

Following the enactment of the central Real Estate (Regulation and Development) Act, 2016 (RERA), the State Government of Maharashtra exercised its powers under Section 84 of the Act to frame state-specific rules. On 20 April 2017 (Notification No. REA 2016/CR No.79/DVP-2), the Housing Department of Maharashtra formally notified the Maharashtra Real Estate (Regulation and Development) (Registration of Real Estate Projects, Registration of Real Estate Agents, Rates of Interest and Disclosures on Website) Rules, 2017 (commonly referred to as the Maharashtra RERA Rules 2017). These rules, along with binding circulars and orders issued by MahaRERA, establish the operational, legal, and compliance framework for real estate agents operating within Maharashtra.

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Key Statutory Provisions for Real Estate Agents

The Maharashtra RERA Rules 2017 govern every phase of a real estate agent's professional lifecycle—from initial registration and fee payment to mandatory account keeping, interest rate determination, and renewal procedures.

1. Application for Registration (Rule 11)

Every real estate agent required to be registered under Section 9 of the Act must submit an online application to MahaRERA in Form G, accompanied by the prescribed registration fee and statutory documents:

• Individual / Sole Proprietorship Fee: ₹10,000
• Non-Individual Entity Fee: ₹100,000 (applies to Partnership Firms, Limited Liability Partnerships [LLPs], Private Limited Companies, Public Limited Companies, and Societies)
• Required Attachments: PAN card copy, business address proof, details of enterprise registration, photographs, income tax returns for the preceding 3 financial years, and declarations affirming no criminal background or pending insolvency proceedings under Section 9(2).

2. Grant of Registration & Validity (Rule 12)

Upon verifying the application details within 30 days, MahaRERA issues a registration certificate in Form H.

• Validity Period: The registration remains valid for a period of 5 years from the date of issuance across the entire State of Maharashtra.
• Registration Certificate Details: Contains a unique MahaRERA Registration Number (e.g., A518000XXXXX), which must be quoted in every property transaction, sale agreement, advertisement, and marketing brochure.

3. Renewal of Registration (Rule 13)

An agent's registration must be renewed prior to its expiration to ensure uninterrupted legal status:

• Application Form: Renewal applications are filed online in Form J.
• Mandatory Lead Time: Must be submitted at least 60 days prior to the expiration date of the existing 5-year registration.
• Renewal Fees: Rule 13(1) requires the renewal application to be accompanied with the same fees as are applicable in case of new registration — that is, ₹10,000 for individuals/proprietorships and ₹1,00,000 for non-individual entities. There is no discounted renewal fee.
• Extension Period: A granted renewal extends registration for an additional 5-year term.

4. Standing Obligations of a Registered Agent (Rule 14)

Rule 14 is the obligations rule, not the revocation rule. It requires every registered agent to (i) prominently display the registration certificate number at the principal place of business and at every branch office, and (ii) quote that registration number, together with the project's registration number, on every document relating to advertisement, marketing, sale or purchase issued by the agent.

5. Revocation and Suspension (Rule 15)

Revocation sits in Rule 15, read with Section 9(7) of the Act. Where an agent breaches any term or condition specified under the rules or regulations, or where the Authority is satisfied that registration was secured through misrepresentation or fraud, MahaRERA may — suo motu or on a complaint from a promoter or allottee — revoke or suspend the registration and inform all promoters.

• Natural justice: No revocation or suspension may be made unless the agent has been given an opportunity of being heard. The rule prescribes a hearing, not a fixed notice period.
• Intimation: Revocation is intimated to the agent in Form 'I'.
• Six-month cooling-off: Once registration is revoked, the agent cannot make a fresh application for registration for six months.

6. Maintenance and Preservation of Books of Accounts (Rule 16)

Rule 16 does not state its own retention period. It requires every registered agent to maintain and preserve such books of accounts, records and documents as required under the Income Tax Act, 1961, the Companies Act, 2013, or any other law for the time being in force, and to produce them for inspection when needed for the grant or renewal of registration. Practical effect: the retention period is whatever the applicable tax or company law prescribes — six years from the end of the relevant assessment year under Income-tax Rule 6F, and eight years under Section 128 of the Companies Act, 2013.

7. Other Functions of a Real Estate Agent (Rule 17)

Rule 17 requires the agent to assist both the allottee and the promoter in exercising their rights and discharging their obligations, and expressly bars the agent from unfair trade practices — falsely representing the standard or grade of services, representing an approval or affiliation that the promoter or the agent does not hold, making false or misleading representations about services, or permitting publication of advertisements for services the promoter does not intend to offer.

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Rate of Interest Calculation (Rule 18)

One of the most critical financial provisions in the Maharashtra RERA Rules 2017 is Rule 18, which standardizes the rate of interest payable in case of defaults or delays by either party. (Rule 19, immediately after it, fixes the refund timeline at 30 days.)

$\text{Applicable Rate of Interest} = \text{SBI Highest MCLR} + 2\% \text{ per annum}$

• Benchmark Rate: The Marginal Cost of Funds Based Lending Rate (MCLR) of the State Bank of India (SBI) having the highest tenure (typically the 1-year MCLR rate).
• Uniform Application: This interest rate applies symmetrically. If a developer delays project completion or refund payout under Section 18, they must pay interest to the buyer at SBI MCLR + 2%. Conversely, if a buyer delays installment payments to the developer, the interest charged by the developer cannot exceed SBI MCLR + 2%.

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Landmark MahaRERA Circulars & Regulatory Notifications

To address practical industry challenges and raise standards of consumer protection, MahaRERA regularly issues binding circulars and regulatory orders under Section 37 of the Act.

Section 9(5), Rule 14 & the Order 46 Series: Display of Registration Number and QR Code

• Registration Number Mandate: Section 9(5) of the Act requires the agent's registration number to be quoted in every sale facilitated, and Rule 14 requires it to be displayed at the principal place of business and every branch office and quoted on every advertisement, marketing, sale or purchase document — hoardings, social media posts, website listings, print ads and brochures alike.
• QR Code Mandate (Order No. 46/2023 dated 29.05.2023; Order No. 46A/2023 dated 25.07.2023; Order No. 46B/2023): MahaRERA introduced a project-specific QR Code for every registered project, made its display in project promotions and advertisements compulsory from 1 August 2023, and extended the same obligation to registered real estate agents. Scanning the QR code takes a prospective buyer straight to the project's official disclosure page on the MahaRERA portal.
• Display Norms (Order No. 46C/2025): MahaRERA has since prescribed how the QR code and registration number must appear — placed in the top-right quadrant of the advertisement, in a font at least as large as the largest font used for contact details or address, in a high-contrast colour, with the QR code kept scannable and in correct aspect ratio.
• Penal Consequences: Non-display of registration numbers or QR codes attracts penalty under Section 62 of RERA, which can extend up to ₹10,000 per day for each day of continuing default, or up to 5% of the estimated cost of the property plot/building facilitated.

Guidelines dated 15.02.2023, Order No. 41B/2023 & Order No. 52/2024: Mandatory Certificate of Competency

To professionalise real estate brokerage in Maharashtra, MahaRERA issued the Guidelines for Real Estate Agent Training and Certification dated 15 February 2023, followed by Order No. 41B/2023 dated 13 December 2023 and Order No. 52/2024 dated 29 April 2024:

• Mandatory Training: Every individual agent, and every designated partner, director or authorised representative of an agent entity, must complete a compulsory 20-hour training course through a MahaRERA-empanelled training institute. The current empanelled list is published on the MahaRERA portal under Real Estate Agent → Agent Training → List of Training Institutes; NAREDCO-REMI, RAGC and AIILSG are among the long-standing partners. Minimum 60% attendance is required before the training completion certificate is issued.
• Certification Examination: Agents must then clear the MahaRERA Real Estate Agent Certificate of Competency Examination, a computer-based test held in phases at designated centres. MahaRERA conducts the examination through an appointed examination agency and has changed that agency between phases — early cohorts were assessed with Maharashtra State Skills University (MSSU), whose Director of Assessment and Evaluation co-signs the certificate with the MahaRERA Secretary, while the current exam-registration link published on the MahaRERA portal's Agent Exam Registration page routes to TCS. Always confirm the agency and window for the current phase on maharera.maharashtra.gov.in before registering.
• Certificate Requirement: New registration, renewal of registration, and the lawful claiming of brokerage all depend on holding a valid Certificate of Competency; promoters may not appoint, list on project pages, or pay commission to an agent who does not hold one.

Order No. 43/2023: Half-Yearly Progress Reports in Form 6

MahaRERA Order No. 43/2023 requires every registered real estate agent to publish a half-yearly progress report in the prescribed Form 6 on the agent's own web page, following the financial half-year calendar:

• Period 1 (April to September): Upload on or before 20 October.
• Period 2 (October to March): Upload on or before 20 April.
• Report Contents (Form 6): The agent's name, MahaRERA registration number and Certificate of Competency number; projects in which the agent is designated by the promoter under Section 4(2)(j); transactions facilitated during the period; and the related particulars prescribed in the form.
• Public Disclosure: Everything in Form 6 except the portions marked '\' must be available for public viewing, so buyers can see an agent's actual track record.
• Non-Compliance: The order provides that where the report is not filed in the prescribed manner and within these timelines, "action as deemed fit shall be initiated by the Authority." It does not prescribe automatic suspension. Separately, MahaRERA requires the Form 6 half-yearly progress report to be uploaded with the documents when an agent applies for renewal of registration — so a missing report directly stalls renewal.

Summary of Regulatory Parameters for MahaRERA Agents

The table below summarizes the core statutory requirements, timelines, fee structures, and legal references under the Maharashtra RERA Rules 2017 and official circulars.