Sunday, July 21, 2024
Home » Economy » MahaRERA proposes self-declaration of project quality by realty developers

MahaRERA proposes self-declaration of project quality by realty developers

May 16, 2024
Economy
0

Hey, like this? Why not share it with a buddy?

The above measures are intended to guarantee that construction projects adhere to high standards of quality and safety, benefiting homebuyers and bolstering the overall credibility of the real estate sector. The Maharashtra Real Estate Regulatory Authority (MahaRERA) has proposed that realty developers provide an annual self-declaration of their projects’ quality assurance based on multiple parameters such as structural design, stability, testing, quality of input material, quality of workmanship and various other crucial aspects.

The move is aimed at ensuring setting standards for processes, material and minimizing the occurrence of defects and trouble for homebuyers. Names of those developers voluntarily adopting the system will be put up on MahaRERA website and will assist in adding credence to their reputation towards potential homebuyers. The Real Estate (Regulation and Development) Act, 2016 has a provision on defect liability. The law safeguards flat purchaser’s rights by making a developer accountable to rectify any structural defects, which are brought to the notice within the initial five years.

These defects are expected to be rectified by the developer at their own expense within 30 days. According to MahaRERA, while the law provides remedial measures for defect rectification, it is essential to safeguard homebuyers’ interests and therefore the need to have processes and standards to minimize the occurrence of defects.

It will also include factors such as on-site testing facility to inspect raw material quality, regular inspection of the construction site to ensure the quality of materials like cement, concrete, steel, electrical wires, plumbing fittings, etc. Furthermore, after completion of the project, details regarding fire safety, earthquake-resistant measures and other similar matters need to be documented and certified by the project supervisor and engineers. The promoter of the project will also have to re-validate these prior to submitting the ‘Self-Declaration on Quality Assurance’ to MahaRERA.

Related Posts

Reader / Viewer discretion and disclaimer :
The information provided on SME e-News (www.smeenews.com) website is intended for general informational purposes only. While we strive to provide accurate and up-to-date information, we cannot guarantee the accuracy, completeness, or reliability of the content. The views and opinions expressed in the articles and posts on this website are those of the authors and do not necessarily reflect the official policy or position of SME-e-News website. Readers are advised to independently verify any information found on this website before making decisions based on it. We do not endorse, represent, or warrant the accuracy or reliability of any third-party content linked on this site. Furthermore, SME e-News (www.smeenews.com) website shall not be held liable for any errors, omissions, or delays in the information provided, nor for any losses, injuries, or damages arising from its display or use. Please note that the content on SME e-News (www.smeenews.com) website may be subject to change without notice.