In a first, the state housing regulator, MahaRERA, has co-opted two developer bodies — the NAREDCO and MCHI-CREDAI — and made them Self-Regulatory Organisations (SRO). This was done to improve awareness and compliance of rules and to facilitate the completion of stalled projects.

MahaRERA chief Gautam Chatterjee, while addressing the Builders Association of India (BAI) on January 11, explained the functioning of the SROs, adding that RERA's (Real Estate Regulatory Authority) power won't be shared with the organisations. The concept of an SRO was introduced through an amendment in the MahaRERA Act in December 2019. BAI chairman Gyan Madhani welcomed the SRO, saying, "SROs can facilitate the completion of stalled projects as with MahaRERA's assistance, our members can chip in and help finish projects. Over 100 projects currently remain stalled."