Mumbai

BAI gets SRO certification from MahaRERA

more-in

The association will enforce RERA rules among real estate promoters

The Builders Association of India (BAI), the apex body of Engineering Construction Contractors and Real Estate companies, has received MahaRERA certification as a registered Self-Regulatory Organisation (SRO).

The SRO certificate was recently handed over by MahaRERA Chairman Gautam Chatterjee to Prakash Panjwani, chairman, BAI Maharashtra.

The certification is as per MahaRERA’s rules, which make it mandatory for developers to take membership of a registered SRO, from December 1, 2019. The concept has been introduced in Maharashtra to ensure greater professionalism among real estate promoters and bring in a certain level of consistency in their practice. It is also meant to enforce the code of conduct and discourage fraudulent practices among real estate promoters.

The task of the SROs is to encourage its members to comply with the provisions of the Act, applicable rules, regulations, orders or circulars issued by the MahaRERA from time to time.

“BAI has already been engaged in educating its members about RERA regulations and now with it registered as an SRO, it will promote greater professionalism among promoters and enforcement of code of conduct of RERA,” said Gyan Madhani, Chairman, BAI Mumbai Centre, in a statement. BAI Maharashtra has seen a surge in new membership enrolment to fulfil the provisions of MahaRERA, he said.

Founded in 1941, BAI has more than 19,000 business entities as members through its 180-plus centres (branches) across India.

In Maharashtra, it has centres in Ahmednagar, Amravati, Aurangabad, Baramati, Butibori, Dhule, Ichalkaranji, Jalgaon, Kolhapur, Latur, Malegaon, Mumbai, Nagpur, Nanded, Nandurbar, Nasik, Parbhani, Phaltan, Pune, Raigad, Sangamner, Sangli, Satara, Shahda, Solapur, Ulhasnagar and Wai. More are in the offing.

Why you should pay for quality journalism - Click to know more

Related Topics Mumbai
Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Jan 25, 2020 11:55:32 PM | https://www.thehindu.com/news/cities/mumbai/bai-gets-sro-certification-from-maharera/article30398766.ece

Next Story