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In order to increase the accountability of real estate developers towards the quality of real estate projects, the Maharashtra Real Estate Regulatory Authority (MahaRERA) had proposed that developers make six-monthly declarations on the quality of projects undertaken by them. Emphasizing the need to rectify construction errors during the defect liability period, MahaRERA has introduced the consultation paper to develop a robust framework for quality assurance reporting.
Despite sending letters to development authorities on October 13, there has been no significant response. MahaRERA has prepared this consultation paper based on discussions held with experts in the field globally and the guidelines of the Prime Minister's Housing Scheme. Information has been requested from the public until December 31 for effective implementation. The public is urged to send their suggestions to suggestions.maharera@gmail.com by December 31.
According to the defect liability period, within 5 years of possession, if there is any structural defects or problems in quality, the builder has to rectify these damages within 30 days at no cost to the buyer. This initiative aims to ensure consumer rights are protected, emphasizing MahaRERA's role in establishing certified practices and standards for construction.
Developers will now be guided by this benchmark system. The names of developers accepting this mechanism will be publicly announced on the MahaRERA website, instilling confidence in consumers globally. The quality of construction in the real estate sector has always been a topic of discussion and concern. Many countries worldwide have established quality assessment and assurance systems to build trust in construction.
MahaRERA proposes proactive quality assurance as the primary objective. This means that the focus should be on preventing defects from arising in the first place, thus avoiding the need for costly rework. By ensuring high standards of material quality and workmanship during the construction process, real estate projects can be constructed to be defect-free and adhere to stringent quality standards.
As a first step, MahaRERA has included the selection of third-party quality monitoring agencies in this proposal. This is crucial for ensuring transparency and efficiency. The names of these agencies will be selected with the help of consumer and homebuyer associations, ensuring a transparent bidding process.
It is proposed that Third Party Quality Inspection should be carried out in three stages: (i) Advanced Stages of Construction; (ii) Pre-Handover / Pre-Delivery of Housing; (iii) Verification of rectification of issues.
This mechanism will not only provide a comprehensive inspection of the project at its final stage but will also ensure that the external amenities are thoroughly inspected. This third-party mechanism will be instrumental in ensuring the accountability of the developers and the completion of the rectification of defects identified before the direct transfer of possession to the buyers. This report will be made available to the homebuyers through MahaRERA's and the project's website.
As per Section 14(3) of the Real Estate Regulation Act (RERA), any defect or deficiency accepted in the construction structure or purchase agreement can be considered valid for an additional 5 years after the defect liability period. MahaRERA has proposed this for the convenience of developers, and said that it is not mandatory for now.
According to Ajoy Mehta, Chairman of MahaRERA, developers are responsible for rectifying complaints within 5 years post-transfer due to the liability period. He says that as a first step, MahaRERA has proposed this three-party quality control mechanism for the final inspection, which includes conducting inspections in three stages after the transfer of property. While this mechanism is initially optional/guidance, after a certain period, MahaRERA will make it mandatory for all projects. The ultimate aim is enhancing trustworthiness in the sector, particularly for homebuyers.
This initiative reflects MahaRERA's commitment to ensuring the quality of construction in the real estate sector. In essence, MahaRERA recognizes that the best way to protect the interests of homebuyers is not just to provide remedies for defects after the fact but to establish processes and standards that minimize the likelihood of defects occurring in the first place. This proactive stance not only benefits homebuyers by delivering high-quality homes but also contributes to the overall sustainability and reputation of the real estate industry. It underscores the importance of quality assurance as a preventive measure rather than merely a reactive one, ultimately enhancing the trust and confidence of homebuyers in the real estate market.
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