MahaRERA, the Maharashtra Real Estate Regulatory Authority, has established criteria for grading housing projects throughout the state. This grading system, referred to as the 'MahaRERA Grading Matrix,' will assess projects based on data supplied by developers to the regulatory body. The assessment process will initially focus on rating the projects themselves, followed by evaluating the promoters.
Furthermore, the rating process will take into account a range of additional factors, including the project's financial feasibility, technical approvals from relevant authorities, and any ongoing legal disputes associated with the project.
This assessment process will be conducted in two distinct phases. The initial phase will focus on disclosing objective project information, encompassing project specifics, location, developer details, and amenities, among others. The second phase will delve into technical aspects, including the commencement certificate, quarterly and annual compliance reports, project status, and more. Additionally, financial aspects such as the project's financial obligations, financial progress, annual audit certificate, and litigation matters will be taken into account.
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