The main challenge faced by customers today while investing in Real Estate is the lack of clarity regarding timely delivery. Customers seek transparent information to make informed decisions, and in its absence, buyers in recent times have shown preference towards ready to move or nearly complete properties instead of newly launched/ under construction ones.
The recent initiative undertaken by MahaRERA to introduce a grading mechanism for projects is commendable and has twin benefits. It will condense the complexity of project documentation into simpler language that buyers can comprehend and also aids in comparing suitable options. Developers are also encouraged to simplify documentation and comply with regulations to receive higher grades, attracting more buyers and boosting cash flows.
MahaRERA seeking public comments to improve the proposed system is noteworthy as it will ensure that there is transparency and fairness in the process used to determine how the ratings have been derived for developers.
