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The recent announcement by the Maharashtra RERA to institute a grading mechanism for the real estate projects and developers has evinced a keen interest among various stakeholders including home buyers , developers , financial institutions, marketing and branding professionals, besides industry bodies. MahaRERA has already set the ball rolling by inviting suggestions from the stakeholders for formulating a framework for grading projects. It is pertinent to mention that in 2020, UP RERA had also formulated a grading mechanism which is however yet to be implemented.
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