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.
In a strong statement, CREDAI Maharashtra President Sunil Furde said that the prices of cement, steel, sand, bricks and all other necessary building materials have been steadily escalating since over a year and have now skyrocketed to unaffordable levels.
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