UP RERA will grade the realtors and their projects on a scale of zero to five which will help buyers buying property in Noida and banks to make a decision to finance the project.
The grading is on a scale of zero to five, with five being the best. According to reports, the buyers face many problems buying the product and trust the developers. By introducing this grading facility, UP RERA has made buying a property much easier for the buyers. They can now analyze and take a decision for such an important matter easily.
I the financial system, the real estate sector is one of the sectors that have created the maximum amount of non-performing assets. This will not only help the buyers but also banks and financial institution for making a decision on financing the project.
The process of grading will be started from January 2019 and the result of first grading will come out by September 2019. The process will include feedback of people who have been a part of a particular project and it will be based upon how the project and their builders are compliant with RERA rules.
Thus it will help to keep a track of builders if they complete the work before the given due date or not. For the process of grading, UP RERA will indulge a third party. The process of buying a property will not be a headache anymore.