All projects registered with the Maharashtra Real Estate Regulatory Authority (MahaRERA) will have to get assessed for quality certification.
Officials said all real estate projects registered after December 1, 2018, were required to fill in quarterly information on Form 2A, which would be uploaded at the end of every financial quarter.
“We have issued a circular asking all developers in Maharashtra to submit quarterly quality certificates from their engineers certifying the quality of construction. The circular will be valid for all ongoing projects registered with the authority from December 1, 2018. This will be an additional certification required from developers,’’ an official said.
Consumers of registered properties too stand to benefit as they will receive a “quality certificate” of the constructions. As per MahaRERA officials, under Form 2 A, the builder is supposed to fill in all the details regarding input materials and workmanship and this will be insisted upon at the time of registration. The engineer supervising the project will have to certify that the quality of the construction is as per the National Building Code (NBC).
Earlier, under section 4 (1) (D) of the Real Estate (Regulation & Development) Act (RERA), the developers had to deposit the funds in a separate escrow account and use the money only for construction of that particular project. “The developer could withdraw money from this account on submission of three certificates from the architect, the engineer, and the chartered accountant associated with the project in proportion to the percentage of completion of the project,’’ the official said.
The project engineer has to certify the cost estimate as well as the cost incurred for the purpose of withdrawal of money from the designated account as per Form 2. With this added Form 2A, the engineer supervising the project construction will have to certify that the quality of the construction is as per National Building Code norms.
“The promoter has to request an engineer, appointed to supervise the work and quality of construction material, to submit the quality certificate,’’ said the MahaRERA official.Credai state president Rajiv Parikh said, “It makes the entire process transparent and one is assured of quality projects.”
