RERA ROUNDUP

04 April, 2024/Vol. 2900

Empowering Homebuyers: MahaRERA's Project Grading System

Introduction :

  • MahaRERA is set to launch the MahaRERA Project Grading System to help homebuyers make informed decisions.
  • Grading based on four parameters: technical, financial, legal, and project overview.
  • Projects evaluated every six months to ensure alignment with construction progress.

Key Insights

Parameters for Evaluation :
  • Construction Quality: Assessing developer’s track record in construction, materials used, and adherence to regulations.
  • Environmental and Sustainability Factors: Considering project’s impact on environment, compliance with sustainability standards, and incorporation of energy-efficient measures.
  • Developer’s Track Record: Evaluating reputation, timely completion of projects, financial stability, and customer satisfaction.
  • Customer Feedback: Incorporating feedback from existing customers to assess satisfaction and address concern.

 

Industry Experts’ Insights :

  • Suggestions for improvement include promptly updating grades, providing clear explanations for assessments, and implementing effective feedback mechanisms.
  • Recommendations for educating buyers on interpreting grades and establishing a fair appeals process for developers. 

 

Developers’ Perspectives :
  • Optimism regarding benefits of MahaRERA Project Grading System, with suggestions to streamline data requirements and display project ratings prominently.
  • Overall, proactive approach fosters responsible practices and builds trust between buyers and developers.
MahaRERA Project Grading System

Bridging the Gap: MahaRERA Mandates Builders' Bank Details

MahaRERA Project Grading System
  • MahaRERA requires builders to disclose bank details in recovery warrants for streamlined dues recovery.

 

  • Direct access to builders’ accounts expedites dispute resolution, benefiting homebuyers and stakeholders.

 

  • The initiative underscores MahaRERA’s commitment to consumer protection and sector accountability.

 

  • Our firm stands as a reliable bridge between builders and authorities, ensuring compliance and efficient resolution.

 

  • Clients trust our expertise to navigate regulatory complexities, fostering confidence and reliability in Transactions.