The Maharashtra Real Estate Regulatory Authority (MahaRERA) has decided to put on hold its proposed grading system for real estate projects, citing regulatory constraints and the need for further consultation with stakeholders.
MahareraReal EstateProject GradingRegulatory ConstraintsStakeholder ConsultationsReal Estate MaharashtraOct 22, 2024
MahaRERA stands for the Maharashtra Real Estate Regulatory Authority. It is a statutory body established to regulate and promote the real estate sector in Maharashtra, ensuring fair and transparent practices and protecting the interests of home buyers.
The proposed grading system aimed to evaluate and rank real estate projects based on various parameters to provide home buyers with a clearer picture of the quality and reliability of projects.
The grading system was suspended due to regulatory constraints and the need for further stakeholder consultations to ensure the system aligns with existing regulations and meets the needs of all stakeholders.
MahaRERA plans to conduct stakeholder consultations, review the regulatory framework, develop comprehensive grading criteria, pilot test the system, and launch public awareness campaigns.
While the system is currently suspended, MahaRERA remains committed to implementing it in the future, ensuring it is robust, reliable, and aligned with regulatory requirements.
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