MahaRERA Limits SRO Appointee Tenure to Two Years to Prevent Conflict

15 Jan 2025 CW Team

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has set a two-year tenure limit for representatives appointed by Self-Regulatory Organisations (SROs) assisting with housing project registrations. This decision aims to prevent potential conflicts of interest. In a directive to SROs, MahaRERA has instructed the immediate replacement of representatives who have completed two years. Additionally, the authority emphasised that appointees must be subject matter experts in legal, financial, or technical fields, which are critical for the housing project registration process. “The registration process involves rigorous scrutiny of legal, financial, and technical aspects, and this requires domain expertise from SRO representatives. Therefore, appointing specialists and setting a maximum tenure of two years is essential,” stated Manoj Saunik, chairman of MahaRERA. Currently, seven SROs are recognised by MahaRERA, including NAREDCO West Foundation, CREDAI-MCHI, CREDAI Maharashtra, Builders Association of India, Marathi Bandhkam Vyavsayik Association, Brihanmumbai Developer Association, and CREDAI-Pune. As per the Real Estate (Regulation and Development) Act, 2016, all housing projects must obtain a MahaRERA registration number before being advertised, promoted, or sold. The authority meticulously scrutinises each proposal based on legal, financial, and technical criteria before granting registration. SRO representatives play a key role in assisting member developers through the registration process by addressing observations raised by MahaRERA. To ensure seamless support, the authority mandates that SROs appoint representatives with expertise in at least one of the three critical domains and rotate appointees as required. MahaRERA has clarified that only one representative per SRO is permitted and emphasised the need for their presence on a rotational basis to meet the requirements of member developers.

(ET)

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..