MahaRERA Directs Real Estate Developers to Establish Redressal Cells Addressing Homebuyer Concerns
In a significant move aimed at enhancing transparency and accountability in the real estate sector, regulatory authority MahaRERA has mandated that all developers' projects must incorporate a dedicated grievance redressal officer. This requirement comes as part of the proposed evaluation process for projects and is set to be a pivotal criterion in determining their rating. The directive underscores the pivotal role of effective grievance resolution in maintaining positive buyer experiences. While homebuyers usually engage with sales and marketing teams during property transactions, the lack of a project-specific mechanism for post-purchase issues has been a concern. The establishment of grievance redressal cells is poised to address this gap, providing complainants with official and timely information.
MahaRERA's comprehensive evaluation framework will encompass various facets, including financial viability, technical endorsements, legal matters, and compliance adherence. Notably, the presence and functionality of a project-wise grievance redressal cell will be integral to this assessment. Developers are set to undergo a phased process of rating implementation, allowing them ample time to align with the outlined criteria. Technical details such as Commencement Certificates, compliance reports, financial indicators encompassing liabilities and progress, as well as legal considerations such as litigation and complaints, will form the core of this evaluation. Moreover, the introduction of snapshots depicting project overviews, technical, financial, and legal dimensions will further inform the ranking process. With the inaugural ratings slated for release between October 2023 and March 2024, this move signifies a commitment to bolstering consumer confidence and project quality within the real estate sector.
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