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Maharashtra RERA Puts Grading of Real Estate Projects on Hold

Dated on: Saturday 9th November 2024

Maharashtra's Real Estate Regulatory Authority (RERA) has temporarily suspended its grading system for real estate projects. This system was designed to rate projects based on criteria such as legal compliance, project delivery timelines, and customer satisfaction. The decision to put the grading process on hold comes after concerns about the transparency and effectiveness of the system. RERA plans to review and refine the grading methodology before resuming the process. This suspension may impact the way homebuyers assess developers and projects in the state in the short term.

This pause in grading is seen as a step towards ensuring more reliable and meaningful ratings in the future, addressing any issues that could affect the credibility of the system.

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