CRISIL Real estate star ratings
"ARK HOMES" is Hyderabad's second residential project to be rated by CRISIL and awarded 5 Star.
Rating from CRISIL reiterates ARK BUILDERS' ability to deliver quality homes, with clear property title, on-time completion, financial strength, track record and our vision for future Projects.
1. What is the definition of star ratings?
The star ratings indicate the quality of the real estate project in the city, as per the agreed
specifications. The quality is assessed on various parameters including construction, clarity
of title and timeliness.
2. What real estate segments can receive the star rating?
The star ratings can be taken by projects across residential, commercial office and retail
segments. This includes townships, mixed developments, SEZ, IT Parks and hotels.
3. What is the rating scale?
The star ratings are assigned on a 8-point scale, with first seven being star ratings and the last
being ‘non-deliverable’ rating. City 7-Star is the highest star rating.
4. What is the criterion for the star ratings?
The star ratings are determined based on project-specific parameters namely, sponsor,
construction, legal, financial and innovativeness.
5. At what frequency, CRISIL will monitor the project? Can CRISIL change the rating
after the initial rating is assigned?
CRISIL will regularly monitor the key project milestones involving statutory approvals, financial
results, major construction stages, financial closure & fund disbursements and sales bookings.
The rating will be kept under surveillance until the occupancy certificate is received. The ratings
can be downgraded or upgraded at any time, similar to other ratings assigned by CRISIL.
6. At what stage of a project can the star rating be obtained?
The rating can be taken for a project at any stage. Both ongoing as well as yet-to-launched
projects can obtain the rating. Rating of projects in initial stages will directly benefit in terms of
pricing/ salability.
7. Where can the details on ratings be accessed?
The star ratings can be accessed at www.star-ratings.crisil.com. |
