Several software projects are over budgeted or have to face failures during operations. One big reason of this is Software Company develops wrong software due to wrong interpretation of requirements. Requirements engineering is one of the well known discipline within Software engineering which deals with this problem. RE is the process of eliciting, analyzing and specifying requirements so that there won’t be any ambiguity between the development company and the customers. Another emerging discipline within requirements engineering is requirements engineering for market driven projects. It deals with the requirements engineering of a product targeting a mass market. In this thesis, a maturity model is developed which can be used to assess the maturity of requirements engineering process for market driven projects. The objective of this model is to provide a quick assessment tool through which a company would be able to know what are the strengths and weaknesses of their requirements engineering process.