MahaRERA's New Rule: Annual Quality Assurance Certificates Mandatory for Developers
MahaRERA introduces new rule to ensure homebuyers receive good quality residences and to prevent builders from neglecting defect repairs.
MahareraQuality Assurance CertificateReal EstateHomebuyersDevelopersReal Estate PuneAug 21, 2024
The quality assurance certificate will be issued by a third-party auditor, who will inspect the project and verify that it meets the required standards. The certificate will be valid for a period of one year, after which the developer will need to obtain a new certificate.
This move is expected to bring transparency and accountability in the real estate sector, which has been plagued by complaints of poor construction quality and neglect by builders. Homebuyers will now have the assurance that their homes are built to last and meet the required standards.
MahaRERA has also mandated that developers display the quality assurance certificate prominently at the project site, so that homebuyers can easily verify the certificate.
The new rule is a welcome move for homebuyers, who often have to deal with the hassle of getting defects repaired after taking possession of their homes. With the quality assurance certificate, homebuyers can be assured that their homes are built to meet the required standards.
The Maharashtra government had established MahaRERA in 2017 to regulate the real estate sector and protect the interests of homebuyers. Since its inception, MahaRERA has taken several steps to bring transparency and accountability in the sector.
About MahaRERA
The Maharashtra Real Estate Regulatory Authority (MahaRERA) is a regulatory body established by the Maharashtra government to regulate the real estate sector in the state. MahaRERA is responsible for ensuring that developers comply with the provisions of the Real Estate (Regulation and Development) Act, 2016.
The authority is also responsible for disposing of complaints filed by homebuyers against developers and ensuring that developers deliver projects on time.
Frequently Asked Questions
What is the purpose of the quality assurance certificate?
The quality assurance certificate is issued to ensure that the project meets the required standards and to give homebuyers the assurance that their homes are built to last.
Who will issue the quality assurance certificate?
The quality assurance certificate will be issued by a third-party auditor, who will inspect the project and verify that it meets the required standards.
How often do developers need to obtain a quality assurance certificate?
Developers need to obtain a quality assurance certificate every year, which will be valid for a period of one year.
What is MahaRERA?
MahaRERA is the Maharashtra Real Estate Regulatory Authority, a regulatory body established by the Maharashtra government to regulate the real estate sector in the state.
What is the role of MahaRERA in the real estate sector?
MahaRERA is responsible for ensuring that developers comply with the provisions of the Real Estate (Regulation and Development) Act, 2016, and for disposing of complaints filed by homebuyers against developers.
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