MahaRERA Introduces Mandatory Quality Assurance Certificate for Realty Developers
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has made it mandatory for realty developers to present a quality assurance certificate to the regulator at the end of every financial year and publish it on their respective websites.
MahareraQuality Assurance CertificateRealty DevelopersMaharashtra Real Estate Regulatory AuthorityReal Estate RegulationReal Estate MaharashtraAug 20, 2024
This certificate will be based on various factors that determine the quality of the project, including the project’s structural design, stability, various tests, the types of materials used, and the skill level of the workforce involved, fire safety and fire resistance measures, etc.
The move is aimed at increasing developer’s accountability and ensuring that homebuyers receive better constructed homes. As per the provisions with regards to the defect liability period, a developer is obliged to rectify any deficiency in the residences for a period of five years from the date of possession. Every complaint needs to be attended to within 30 days without any cost to the homebuyer.
According to Ajoy Mehta, Chairman, MahaRERA, “Today, the emphasis on quality is maintained across all sectors. The housing sector is no exception. Nevertheless, quality in this sector remains a topic of ongoing discussion and concern. MahaRERA’s effort is to raise the construction benchmark to make the provisions of defect liability period become irrelevant.”
MahaRERA has amended the MahaRERA General Regulations, 2017, and introduced the MahaRERA General (Amendment) Regulations, 2024 to make this provision effective. The regulator has been working to establish preliminary parameters to ensure that constructions are of better quality since December. A consultation paper was also issued in December, and a draft circular discussing all aspects of the matter was issued in April’s last week for opinions and suggestions.
On submission of details by the project’s engineers and supervisors, the developer is expected to verify the details prior to making the quality assurance certificate public. This move is expected to increase developer’s accountability and ensure that homebuyers receive better constructed homes.
Every developer will have to ensure quality control at each of the project’s stages, as this will improve a structure’s overall condition. While every developer claims that their project is best on all aspects, so far, a standard framework or parameters has been missing. Hereon, developers will be required to provide such assurance to their purchasers through MahaRERA on an annual basis.
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MahaRERA is a regulatory body established under the Real Estate (Regulation and Development) Act, 2016 to regulate and promote the real estate sector in Maharashtra.
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MahaRERA is a government agency responsible for regulating and promoting the real estate sector in Maharashtra. Its main objective is to protect the interests of homebuyers and promote transparency and accountability in the sector.
Frequently Asked Questions
What is the purpose of the quality assurance certificate introduced by MahaRERA?
The quality assurance certificate is aimed at increasing developer’s accountability and ensuring that homebuyers receive better constructed homes.
What factors will be considered while issuing the quality assurance certificate?
The certificate will be based on various factors that determine the quality of the project, including the project’s structural design, stability, various tests, the types of materials used, and the skill level of the workforce involved, fire safety and fire resistance measures, etc.
Who will be responsible for verifying the details before making the quality assurance certificate public?
The developer will be responsible for verifying the details prior to making the quality assurance certificate public.
What is the defect liability period, and how will it be affected by the new regulations?
The defect liability period is a period of five years from the date of possession, during which the developer is obliged to rectify any deficiency in the residences. The new regulations aim to make this provision irrelevant by raising the construction benchmark.
What is the objective of MahaRERA in introducing the quality assurance certificate?
The objective of MahaRERA is to protect the interests of homebuyers and promote transparency and accountability in the sector.
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