MahaRERA’s Biannual Project Assessment: New Grading System

Here are the key details of the grading system:

  1. Grading Parameters:
    • The grading matrix will evaluate projects based on four critical parameters:
      • Technical Specifications: Assessing the quality of construction and design.
      • Financial Viability: Evaluating the project’s financial stability.
      • Legal Compliance: Ensuring adherence to legal norms and regulations.
      • Overall Project Overview: Providing an overall assessment.
    • The matrix serves as the basis for evaluating projects.
  2. Assessment Timeline:
    • All projects initiated from January 2023 onwards will undergo assessment.
    • MahaRERA will update the matrix biannually:
      • First grading period: October 1, 2023, to March 31, 2024.
      • Subsequent grading rounds: Semi-annually, with the next period spanning April 2024 to September 2024.
    • Developers must submit their Quarterly Progress Reports (QPR) by October 20, 2024.
    • Grading results will be published based on the provided information.
  3. Transparency and Credibility:
    • The process will be conducted through MahaRERA’s IT Solution MahaCRITI.
    • This systematic approach aims to enhance transparency and credibility within the real estate sector.
    • Stakeholders will gain valuable insights into the quality and progress of ongoing projects.

For more details, you can refer to the circular numbered File No. MahaRERA/Secy/File No. 27/1166/2023

Click here to read/Download the Circular


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