Real estate web portals must register themselves under Maharashtra Real Real Estate Regulatory Authority as per the demand raised by the apex consumer forum of the city, Mumbai Grahak Panchayat (MGP). MGP has reportedly approached MahaRERA to seek compliance by requiring all real estate web portals to register themselves as Real Estate Agents.
According to the recent reports, MGP has approached MahaRERA quoting the definition of Real Estate Agent under RERA and has demanded that all the real estate web portals should get themselves registered. The move, if approved by Maha RERA, will definitely set precedent for the nation, as all other states will follow the same.
“The letter has been written to the Chairman, web portals who carry out business as an agent, will have to register with us, as an agent they are accountable as per the act,” DNA quoted Vasant Prabhu, secretary, MahaRERA, as saying.
The demand letter, reportedly signed by MGP Chairman Adv Shirish Deshpande, quotes the last part of the definition that specifically includes a person who introduces, through any medium, prospective buyers and sellers to each other for negotiation for sale or purchase of plot, apartment or building. The term “any medium” used in this definition certainly includes real estate web portals, as per the MGP’s letter.
The letter reportedly demands that web portals such as magicbricks.com, ma-kaan.com, and 99acres.com be considered under Maha RERA. The letter has raised the question whether such real estate web portals be considered as are real estate agents as defined under RERA, 2016 or not.
The letter said to further state that several unregistered projects are being widely advertised by these portals, which could adversely impact homebuyers. It is noteworthy here that Section 9 (1) of the RERA Act allows no individual to facilitate the sale or purchase of a flat without registration with the authority.