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MahaRera, the real estate regulatory authority in India, is set to introduce a project grading system to enhance accountability in the sector. Builders will be required to submit project details every six months, which will be accessible to the public. This transparency will help prospective homebuyers make informed investment decisions. Additionally, project promoters will need to appoint a grievance redressal cell, with the officer s contact information displayed prominently.
The company is planning to utilize the net proceeds towards development of their ongoing and upcoming projects, funding acquisition of future real estate projects and general corporate purposes.