MAHARERA to register Self Regulatory Organisations

Dated on: Tuesday 15th October 2019

The Maharashtra Real Estate Regulatory Authority has proposed to register realty developers and project promoters’ Self-Regulatory Organization (SROs) with the authority.According to the regulator, this will help to ensure greater professionalism among realty developers, bring a certain level of consistency in their practices, enforcement of code of conduct and discourage fraudulent promoters. The SRO is expected to encourage its members to comply with the provisions of the RERAAct, applicable rules, regulations, orders or circulars issued by the MahaRERA from time to time. The SRO will be responsible for carrying out awareness and education activities among its members. Any information or particulars furnished to MahaRERA by the applicant shall not be false or misleading in any material respect, the circular added.

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