MahaRERA grading process to ensure transparency

The Maharashtra Real Estate Regulatory Authority (MahaRERA) is planning to set up a grading system for real estate projects. The Authority has invited suggestions and opinions on the same from the industry and public.

Responding to the initiative of MahaRERA, Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd, says, “This is indeed a positive step towards ensuring transparency and empowering home buyers to make well-informed choices. By evaluating key factors such as financial viability, technical approvals, pending litigations, and compliance reports, MahaRERA's grading system provides a comprehensive assessment of projects. This will enable home buyers to assess the credibility and reliability of developers, giving them confidence in their investment decisions.”

He adds, “The requirement for regular updates on the MahaRERA portal further enhances transparency, as it ensures that the information provided to home buyers remains current and accurate. This will go a long way in establishing trust between developers and home buyers. This grading system will not only benefit home buyers but also foster a culture of accountability within the real estate industry. Developers will be motivated to prioritize financial stability, compliance, and efficient project management, ultimately raising the overall standards of the sector.”

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