The Maharashtra Real Estate Regulatory Authority is all set to appoint valuers to inspect delayed as well as ongoing projects. These valuers or inspectors would be certified by the income tax department or the Insolvency and Bankruptcy Board of India and carry out site visits. Their reports will be accepted as they are professionals certified by the Union government.
The authority has put out an expression of interest for the appointment of valuers. They will first be appointed in the Mumbai Metropolitan Area, Pune, Nashik, Aurangabad, Amravati and Nagpur.
For other cities and districts, certified engineers who have prior experiences with government authorities like the state public works department (PWD) or the Maharashtra Housing and Area Development Authority (MHADA), among others, would act as valuers.
The MahaRERA expects these inspections to begin after two months as tenders have to be floated for the empanellment of valuation firms. Housing federations and representatives from citizens groups said that while it is a good initiative, they are not sure if it would help speed up work, unless there is a penalty involved.