The Maharashtra Real Estate Regulatory Authority (MahaRERA) has announced that real estate developers will now be required to submit an annual self-declaration of the quality assurance of their projects. This self-declaration will be based on several factors.
The goal is to make sure that standards are set for procedures and materials. It will also reduce the chances of errors and difficulties for homebuyers.
Initially, compliance with the new rules will be voluntary. Developers who voluntarily adopt the method will have their names listed on the MahaRERA website. This will help them improve their reputation with purchasers. After the period of transition, the rule will become mandatory for all developers.
Last year, in December, MahaRERA published a discussion paper outlining steps to improve the quality of homes and deal with complaints from buyers over construction defects.
MahaRERA has already talked with several real estate players about making the draft. Now, a draft regulation for the project's quality assurance has been floated by the regulator. The developer will be required to submit a self-certification declaration containing detailed information about the project's technical features.
The regulator has also welcomed comments and suggestions on this move up to May 23. The rule is expected to alleviate concerns regarding the quality of construction in the real estate industry.
The self-declaration will address the following issues:
1. Soil testing prior to the design process
2. The hiring of structural engineers
3. Periodic certification for quality control
4. On-site testing to check the quality of raw materials
5. Routine site inspections
6. Checking the quality of building supplies like steel, concrete, cement, electrical cables, plumbing fixtures, etc.
7. Documentation of information about earthquake-resistant construction
8. Other issues, like fire safety
Before submitting the "Self-Declaration on Quality Assurance" to MahaRERA, the project promoter will also need to revalidate these.
The Real Estate (Regulation and Development) Act, 2016 covers defect liability. This law protects flat buyers by holding developers responsible for fixing any structural defects found within the first five years of occupancy. The developer is expected to fix these defects at their own cost within 30 days.
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