TheMaharashtraReal Estate Regulatory Authority (MahaRERA) would soon set up a grading system for all real estate projects registered with it since January this year.
Officials said that this initiative would help homebuyers make an informed decision before investing in such projects. The grading system would consider factors such as financial, legal, technical and timely completion risks, stated the order issued by the MahaRERA on June 16. The grading system would be made available on the MahaRERA website from April 2024.
The authority said that several grading mechanisms are followed globally. A grading system for projects will benefit consumers, allowing homebuyers to get a sense of projects that best fit their needs and budget.