In an attempt to ensure home buyers get better quality homes, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has floated a draft regulation for the projects quality assurance.
Through the self-certification declaration of the same, the developer will have to provide detailed information on the projects technical aspects.
The draft has been published on MahaRERA website seeking suggestions and views. The window to share the opinions to suggestions.maharera@gmail.com is open up to May 23.
In December, MahaRERA released a consultation paper on the measures for better quality homes and pre-empt homebuyer complaints related to defects in construction or sub-standard construction quality. Based on the information received, a fresh document has been drafted.
It is proposed that during the initial phases, abiding by the new regulations will be optional. Names of those developers voluntarily adopting the system will be put up on MahaRERA website and will assist in adding credence to their reputation towards potential homebuyers.
Once the transition phase is over, it will become mandatory for all the developers to follow suit.
The law safeguards buyers' rights
The Real Estate (Regulation and Development) Act, 2016 has a provision on defect liability. The law safeguards flat purchasers rights by making a developer accountable to rectify any structural defects, at their own expense, which are brought to the notice within the initial five years. These have to be rectified within 30 days.
Under the proposed new rules, developers will be requires to provide an annual self declaration/ Representative | Photo: Pixabay
While the law provides remedial measures for defect rectification, it is essential to safeguard home buyers' interests. Therefore, the need to have processes and standards to minimise the occurrence of defects.
The need for such a regulation arose owing to repeated discussion and concerns over construction quality delivered by the real estate sector. This will alleviate concerns about the quality of construction in the real estate sector, MahaRERA emphasises the importance of structural design and stability. Already, multiple stakeholders have been consulted to put together the draft.
Before formalising the same, suggestions and opinions have been sought.
After completion of the project, details regarding fire safety, earthquake-resistant measures, and other similar matters need to be documented and certified by the project supervisor and engineers.
