MahaRERA Limits Tenure Of Self-Regulatory Representatives To Curb Monopolies

MahaRERA to Conduct Monthly Open Houses for Developers in Nagpur and Pune

MahaRERA to Conduct Monthly Open Houses for Developers in Nagpur and Pune

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Pune: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has decided to restrict the tenure of representatives from self-regulatory organizations assisting in the registration of new housing projects to a maximum of two years. This decision, announced on Monday, aims to prevent monopolies and conflicts of interest.

These representatives, tasked with assisting developers in navigating legal, financial, and technical aspects of registration, must be experts in at least one of these domains. MahaRERA has also instructed self-regulatory organizations to promptly replace representatives who have completed their two-year term.

Currently, seven self-regulatory organizations operate under MahaRERA, serving as official intermediaries to facilitate project registration and compliance. Representatives are expected to address remarks flagged during the scrutiny of proposals and ensure adherence to regulatory standards.

MahaRERA has emphasized the need for representatives to be well-trained and capable of providing expert assistance. Additionally, the authority has implemented measures to eliminate the influence of intermediaries by assigning technical responsibilities solely to certified representatives.

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Chairperson Manoj Saunik supported the move, highlighting its role in fostering transparency and fairness. Experts have suggested further digitization of MahaRERA’s processes to minimize reliance on representatives in the future.

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