Maharashtra RERA Limits SRO Appointee Tenure to Two Years for Better Governance

Dated on: Tuesday 14th January 2025

Maharashtra’s Real Estate Regulatory Authority (RERA) has announced a new rule limiting the tenure of appointees to Self-Regulatory Organizations (SROs) to two years. The decision is part of ongoing efforts to strengthen the real estate sector’s regulatory framework and improve governance within industry bodies. SROs play a critical role in ensuring compliance with RERA’s guidelines and addressing grievances, but the move seeks to prevent stagnation within these organizations. By enforcing a two-year limit, RERA aims to bring in fresh leadership and ideas, fostering a dynamic environment that can better serve the interests of consumers and developers alike. This change is expected to improve transparency, efficiency, and accountability in the real estate market. The rule reflects RERA’s commitment to ensuring that industry bodies remain effective and responsive to evolving challenges in the real estate sector.