Maha RERA to introduce Grading Matrix for Registered Real Estate

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By Staff Reporter

As per recent circular in Sept 2023, Maha RERA shall MahaRERA shall introduce MahaRERA Grading Matrix for Real Estate Projects in
phased and staggered manner.
In the First Phase, MahaRERA shall aim at objectively listing real estate project information’s making it easier for homebuyers buyers to compare different real estate protects and make informed decisions.

The following framework for Information Disclosure shall be adopted:

Eligibility Criteria: All real estate projects registered post January 2023 shall be eligible for MahaRERA Grading Matrix.

Frequency: MahaRERA Grading Matrix shall be generated every six-months of the financial year. The first period for MahaRERA Grading Matrix shall begin from 1st October 2023 to March 2024. MahaRERA Grading Matrix process shall commence once the due date for last quarter Quarterly Progress Reports (QPR) uploading is done i.e. 20th April 2024.

Tools for MahaRERA Grading Matrix : MahaRERA Grading Matrix shall be automatically generated through MahaRERA’s IT Solution MahaCRlTl on basis of information submitted by the promoter.

Parameters for MahaRERA Grading Matrix : The Project Snapshot shall broadly contain the following four categories:
o Proiect Overview
o Technical Snapshot
o Financial Snapshot
. Legal Snapshot
In the first phase, the information against these Parameters shall be displayed to the home-buyers for making informed decisions.

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