Star rating system for real estate launched

BHUBANESWAR: Popular real estate portal on Wednesday launched star rating system to help buyers to identify reliable developers and quality housing projects.
The star rating system aims at mitigating risk factors for customers buying property and help them understand the market before making any investment.

Launching Genuine Reliability and Customer Satisfaction (GRACS) star rating on the occasion of 12th anniversary of the portal, chairman and managing director of DS Tripathy said this will bring in transparency in real estate sector which has been severely impacted by global slowdown and some negative factors.
He said the star rating will be based on feedback from the existing customers on developers about their track records in providing service, quality of work and delivery of possession. This will also help developers utilise this platform to reach out to potential buyers across the globe.

Initially, five properties will be rated. Booking under GRACS will enable the customers to choose properties to their satisfaction as stress will be on standardisation or prices of the properties. Customers will have the right to review performance of developers after completion of deal, Tripathy said.
While the star rating will provide an opportunity to developers to enhance reliability and brand visibility, it will offer the buyers to clinch hassle free standard deals, he added.

[Source:-The New Indan Express]