ANDHRA PRADESH REAL ESTATE REGULATORY AUTHORITY
Real estate is a sector with wide range of variations based on regional and economic dynamics, which often confuses the consumers on what basis they have to prioritize and invest. On the other end Promoters/developers at times also will not be able to justify their quality of construction, genuinity of legal documents. There are no specific standardized benchmarks set to measure the various aspects of a real estate project and they by decide its worth to invest. Real estate rating provides a state/city/region-specific assessment of the quality of real estate projects. Based on defined criteria and benchmarks your real estate project against other projects in the state, city and down to specific locality, and thus helps buyers identify best projects in the region. This type of rating addresses two major needs in the real estate sector – enhanced transparency and specific benchmarking of projects.
APRERA will collect the information and documents submitted by promoters for registration of their project and analyze them based on the set parameters. The primary focus is to determine the quality of the particular real estate project. After analyzing the set parameters, a rating will be assigned and the project would be under surveillance throughout its tenure.
Promoter track record
Project Construction Quality
Project Legal Quality
Project Financial Quality
Project Innovation Quality
It is the endeavour of Andhra Pradesh, India’s Sunrise state, to facilitate the growth and promotion of a healthy, transparent, efficient and competitive ecosystem for Real Estate sector thereby accelerating investments, economic development and most importantly, protecting the interests of the home buyers in the state.
Andhra Pradesh Real Estate Regulatory Authority (APRERA) has been formed as a regulatory body towards achieving this objective and I strongly believe the new framework can act as a catalyst to potentially create world class cities and transform Andhra Pradesh as the most desired place to live in India.
With APRERA, development takes the center stage and it is the firm commitment of my government to create a level playing field for all the stakeholders i.e. Home buyers, Developers, Agents and Investors to achieve my desire to build a "HAPPY STATE".
SRI NARA CHANDRABABU NAIDU
Hon'ble Chief Minister of Andhra Pradesh