MahaRERA Makes Quality Assurance Certificate Mandatory for Developers
The Maharashtra Real Estate Regulatory Authority has made it mandatory for developers to present a 'Quality Assurance Certificate' to MahaRERA at the end of every financial year.
MahareraQuality Assurance CertificateReal EstateDevelopersHomebuyersReal Estate MumbaiAug 20, 2024
On submission of details by the project's engineers and supervisors, the developer is expected to verify the details and sign the same before making it public. This move is expected to increase developer's accountability and ensure that homebuyers receive better-constructed homes.
MahaRERA has amended the MahaRERA General Regulations, 2017, and introduced the MahaRERA General (Amendment) Regulations, 2024 which has been published in the Government Gazette. This applies to all developers in Maharashtra with immediate effect.
'Today, the emphasis on quality is maintained across all sectors and 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 the defect liability period become irrelevant,' MahaRERA Chairman Ajoy Mehta said.
'Considering the ambit and importance of the subject, a draft circular discussing all aspects of the matter was issued in April last week for opinions and suggestions. Now, the proposal has been given a final shape. Since the details will be publicly available and involve the builder's credibility, they will adopt best construction practices. MahaRERA is of the view that this will enhance developer's accountability and homebuyers will eventually benefit in getting better quality residences,' he added.
President of NAREDCO and Chairman, of Hiranandani Group, Dr Niranjan Hiranandani said, 'MahaRERA's decision to mandate a Quality Assurance Certificate for projects at the end of each financial year is a pragmatic move that will elevate industry standards. This initiative aligns with our long-standing commitment to quality and transparency, ensuring that homebuyers can make informed decisions with confidence.'
As per the provisions about 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 has to be attended to within 30 days without any cost to the homebuyer. While this provision protects consumer interests, MahaRERA is of the firm view that a situation should ideally never arise.
Therefore, to establish standardised procedures and construction quality, MahaRERA issued a consultation paper on the same in December. Based on the response received, a draft circular with detailed provisions was published on April 24 this year. Thereafter, the draft was open for suggestions and feedback until May 23. After reviewing the responses, various experts were consulted from the real estate and relevant sectors to finalise the framework for the 'Quality Assurance Certificate', which is mandatory and binding on all developers.
Additionally, it must be ensured that the materials utilised such as concrete, cement, steel, iron, electrical cables, plumbing, fixtures, etc. conform to the standards as set by the Bureau of Indian Standards/ Indian Standard/ National Building Code. Also, the water to be utilised should be tested to ensure it is suitable for construction purposes. A record of these should be maintained at the project site. There should also be due diligence and records documented for critical works such as electrical, water supply, drainage, etc. carried out under the supervision of registered contractors and supervisors. The documents should also state that adequate safety measures were taken to prevent any leakages and dampness of the walls.
In case of the involvement of any independent third party towards the project's quality checks during and post-construction phases, details of the same should also be documented and certified. Post certifying all of these aspects by the project's engineers and supervisors, the onus is on the developer to verify the information provided and give his stamp of approval to the 'Quality Assurance Certificate'. This will significantly enhance the developer's responsibility and the project's construction quality.
Frequently Asked Questions
What is the purpose of the Quality Assurance Certificate?
The Quality Assurance Certificate is to ensure that developers maintain quality in their projects and provide better-constructed homes to homebuyers.
Who is responsible for verifying the details of the Quality Assurance Certificate?
The developer is responsible for verifying the details of the Quality Assurance Certificate and signing it before making it public.
What are the factors that determine the quality of a project?
The factors that determine the quality of a project include structural design, stability, tests, types of materials used, skill level of the workforce involved, fire safety and fire resistance measures, etc.
What is the defect liability period?
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.
What is the role of MahaRERA in ensuring quality in real estate projects?
MahaRERA's role is to establish standardised procedures and construction quality, and to ensure that developers maintain quality in their projects.
Related News Articles
hBits Launches ₹62.97 Crore Fractional Ownership Asset in Pune
The property is part of a 25.7 acres commercial campus. Recently, hBits exited 32 Der Deutsche Parkz at an IRR of 17.54%. Founded in 2018, the platform aims to offer an average rental yield of up to 10% with an expected IRR of up to 18% with its Grade A c
Luxury Home Sales See 53% YoY Growth in Top 7 Cities in 2024
Delhi-NCR led the market with a substantial 90% YoY growth, followed by Mumbai, recording a 32% YoY increase. The luxury real estate market in India's top cities continues to thrive, driven by a robust economy and increasing demand for premium living spac
Andhra Pradesh to Get New Investor-Friendly IT Policy, says Nara Lokesh
Andhra Pradesh IT Minister Nara Lokesh has called for a new investor-friendly IT policy to be implemented in the state, highlighting the need for incentives to attract companies.
NexPoint Hospitality Trust and NexPoint Diversified Real Estate Trust Announce Strategic Expansion Plans
NexPoint Hospitality Trust and NexPoint Diversified Real Estate Trust are set to expand their real estate portfolios with strategic acquisitions and investments. These moves aim to enhance their market presence and diversify revenue streams.
Kalpataru Secures 7.5-Acre Mumbai Redevelopment Deal with Rs 2000 Crore Revenue Projection
Kalpataru, a prominent real estate developer, has recently inked a significant 7.5-acre redevelopment deal in Mumbai, expected to generate a revenue of Rs 2000 crore. This strategic move aligns with the company's vision to revitalize urban landscapes and
Interior Designers: Your Secret Weapon in Maximizing Real Estate Value
Discover how hiring an interior designer can significantly enhance your property's appeal and value, making it a smart investment for home sales.