MahaRERA to set framework for quality assurance of real estate projects
The new mechanism is expected to enable homebuyers, even those who may not comprehend technical details, to assess the quality of a project and make a well-informed decision.
The new mechanism is expected to enable homebuyers, even those who may not comprehend technical details, to assess the quality of a project and make a well-informed decision.
The report will be made available to homebuyers to enable them to make an informed decision. MahaRERAwants to establish processes and standards to minimise likelihood of defects occurring in realty projects.
This includes projects coming up in the city as well as other districts of eastern Vidarbha like Wardha, Bhandara, Gondia, Gadchiroli and Chandrapur, which come under the Nagpur division.
This information is required to be updated as per the Real Estate (Regulation & Development) Act, 2016. The regulation states that realty developers must register their projects with MahaRERA and update the information related to the same on a quarterly basis.
This enactment will resolve disputes arising from quality issues. More than an impediment, it will ensure seamless delivery of housing," said Ajoy Mehta, chairman, MahaRERA.
Sources at the Rera office in Nagpur said there have been no complaints so far. In case of a lapse, a builder can be charged a penalty ranging up to 5% of the project cost.
In January, the authority had made it mandatory for all agents to get certified by September 1. It had directed agents to take a course followed by a test to get the certificate.
A majority of the applications cleared (117) was from Pune district, followed by Raigad (52), Thane (48) and Mumbai suburban (35).
The gradation based on the criteria fixed by MahaRera will be available to the general public to understand the status of the project and thus will empower them to decide on whether to invest in the project or not.
These cells for the developers’ projects are expected to have at least one grievance redressal officer. Compliance with this provision will be an important criterion in the proposed evaluation of projects by the regulatory authority.
After MahaRera issued warrants to recover a sum of around Rs 36 lakh, the Karjat Tehsildar has put on auction two flats of a Karjat-based developer who failed to pay Rs 36 lakh as compensation to a homebuyer.