MahaRERA asks realty developers to set up redressal cells for homebuyers’ issues, ET RealEstate

August 26, 2023

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has asked realty developers to set up grievance redressal cells to address complaints of their homebuyers.

These cells for the developers’ projects are expected to have at least one grievance redressal officer. Compliance with this provision will be an important criterion in the proposed evaluation of projects by the regulatory authority.

The homebuyer usually interacts with the sales and marketing team of the project while purchasing or registering the property. However, if there are any issues that arise later, these homebuyers are not aware of any project-specific mechanism to resolve the problems.

The regulator has highlighted that if all the developers set up a dedicated grievance redressal cell for their respective projects, these issues can be kept under control as the complainant will get official and reliable information on time.

The details of the redressal cell including the officers, their names, and coordinates should be prominently displayed at the project site as well as the developer’s website, MahaRERA said.

MahaRERA has already announced to undertake grading of the projects registered with the regulator from January 2023 based on certain criteria and the establishment of a project-wise dedicated grievance redressal cell will also be an important criterion for the same.

The regulator will consider several factors to determine the rating of any project. These factors will include financial viability of the project, technical approvals from competent authorities, pending litigations, and various compliance reports to be updated on the MahaRERA portal within the prescribed period.

The authority will implement the process of determining this rating in a phased manner as the criteria for such grading is known to developers and sufficient time is provided for the sane.

The objective information of the project is expected to be announced including project details, location, developer, facilities etc in the first phase.

In technical details, Commencement Certificate (CC), quarterly, annual compliance report, booking percentage, etc will be provided. Financial details will include financial liabilities, financial progress of the project, annual audit certificate etc. Legal details will show if there are any cases against the project, complaints, warrants issued by MahaRERA etc.

Four important snapshots of the project will be released in the second and final phase based on the above information to determine the ranking. It will contain project overview, technical, financial, and legal details of the project.

The rating of the projects will be announced twice a year and based on the information from October 2023 to March 2024. The information, based on which the ranking will be decided, will be publicly available to homebuyers. The ranking will be made public from April 20, 2024.

The regulator has also recently appointed a real estate intelligence agency to help its compliance cell receive information about projects that are lapsed, financially stressed and the ones that have not been submitting quarterly reports or not adhering to regulatory compliance.

  • Published On Aug 15, 2023 at 03:30 PM IST

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Abhay Singh

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