MahaRERA mandates developers to get approved SRO-registered
Real Estate

MahaRERA mandates developers to get approved SRO-registered

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued a circular stating that developers have to get registered with its approved Self Regulatory Organisations (SRO) before applying for the MahaRERA registration for residential projects. The decision will be enforced from December 1, 2019. The decision will be enforced from December 1, 2019.

Being the SRO, CREDAI-Maharashtra has reportedly urged builders to register with it, stating that the entire registration process has been made online and easy for the developers.

As per the MahaRERA decision, while registering a new project or updating an existing one, it is mandatory for the builder to register with recognised SRO bodies such as CREDAI-Maharashtra or other bodies mentioned on the MahaRERA website.

Commenting on the announcement, says Rohit Poddar, Managing Director, Poddar Housing and Development, and Joint Secretary, NAREDCO Maharashtra, “Accredited developer associations play a pivotal role in not only being an enabler in inducing government in framing the progressive policies but also helping developers in addressing challenges they might be facing. Despite meaningful interventions by the policy-makers, slow inventory offtake is still a concern at large. This announcement is a perfect formulation of ecosystem to bring all the stakeholders together and bring the change in the industry.”

Says Parth Mehta, Managing Director, Paradigm Realty, “The Government of India, in view to protect the interests of home buyers, have passed many reformatory changes in the last few years. This is another wise move to bring parity and professional code of conduct in the real estate practices across the state. The SROs will encourage its members to comply with the provisions of RERA Act and apply rules and regulations issued by MahaRERA. Unfair activities practiced by few developers, have shaken the confidence of homebuyers impacting entire sector at large. This move will help to restore trust deficit between the homebuyer and the developer which will simultaneously boost investments in the real estate industry.”

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued a circular stating that developers have to get registered with its approved Self Regulatory Organisations (SRO) before applying for the MahaRERA registration for residential projects. The decision will be enforced from December 1, 2019. The decision will be enforced from December 1, 2019. Being the SRO, CREDAI-Maharashtra has reportedly urged builders to register with it, stating that the entire registration process has been made online and easy for the developers. As per the MahaRERA decision, while registering a new project or updating an existing one, it is mandatory for the builder to register with recognised SRO bodies such as CREDAI-Maharashtra or other bodies mentioned on the MahaRERA website. Commenting on the announcement, says Rohit Poddar, Managing Director, Poddar Housing and Development, and Joint Secretary, NAREDCO Maharashtra, “Accredited developer associations play a pivotal role in not only being an enabler in inducing government in framing the progressive policies but also helping developers in addressing challenges they might be facing. Despite meaningful interventions by the policy-makers, slow inventory offtake is still a concern at large. This announcement is a perfect formulation of ecosystem to bring all the stakeholders together and bring the change in the industry.” Says Parth Mehta, Managing Director, Paradigm Realty, “The Government of India, in view to protect the interests of home buyers, have passed many reformatory changes in the last few years. This is another wise move to bring parity and professional code of conduct in the real estate practices across the state. The SROs will encourage its members to comply with the provisions of RERA Act and apply rules and regulations issued by MahaRERA. Unfair activities practiced by few developers, have shaken the confidence of homebuyers impacting entire sector at large. This move will help to restore trust deficit between the homebuyer and the developer which will simultaneously boost investments in the real estate industry.”

Next Story
Infrastructure Energy

GAIL to Set Up Bengaluru CBG Plant Under New Concession Pact

GAIL (India) Limited has signed a 20-year concession agreement with the Bengaluru City Municipal Corporation (BBMP) to set up a compressed biogas (CBG) plant in the city. The project, expected to produce around 10 tonnes of CBG daily, will utilise municipal solid waste as feedstock, contributing to clean energy generation and efficient waste management. The CBG produced will be used in GAIL’s City Gas Distribution network to promote cleaner fuel usage. The initiative aligns with the government’s Sustainable Alternative Towards Affordable Transportation (SATAT) scheme and GAIL’s broader ..

Next Story
Infrastructure Energy

Uttarakhand HC Lifts 31-Year Ban on ONGC’s Contractual Hiring

The Uttarakhand High Court has lifted a 31-year-old ban on the Oil and Natural Gas Corporation (ONGC) from hiring contractual workers, a restriction imposed in 1993. The decision enables ONGC’s Dehradun establishment to employ personnel on a contractual basis to meet operational requirements. The long-standing prohibition had limited ONGC’s ability to fill vacancies in its technical and administrative departments, often leading to project delays and higher dependence on outsourcing. With the court’s directive, the public sector enterprise can now proceed with temporary recruitments whil..

Next Story
Infrastructure Energy

JSW Energy’s Utkal Unit Bags 400 MW, 25-Year Power Supply Deal

JSW Energy Limited announced that its subsidiary, JSW Energy (Utkal) Limited, has secured a Letter of Award (LoA) from Karnataka’s Power Company of Karnataka Limited (PCKL) for the supply of 400 MW of electricity for 25 years. The agreement is part of a competitive bidding process for long-term procurement of power to meet the state’s growing energy demand. The 400 MW capacity will be supplied from JSW Energy’s upcoming thermal power project in Odisha. This development strengthens JSW Energy’s presence in the southern market and aligns with its strategy to enhance long-term contracte..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?