India’s first seven-year real-estate warranty
Gera Developments – Pune-based residential and commercial developers – has unveiled India’s first seven-year warranty in the real estate sector. The warranty will, reportedly, be put into use through the GeraWorld app, which will enable the company to track and resolve all issues at the earliest. As reported, the app will reduce the turnaround time on warranty and common area maintenance reports. As a part of the warranty, a special offer includes annual preventative maintenance that will be offered to clients.
The company was also responsible for the five-year warranty that was introduced in 2004, which was since then included in the RERA norms in 2017. It covered issues such as leakages, repairing or fixing all fixtures or fittings with manufacturing defects and other arising problems in the estate.
Commenting on the company’s pioneering act of bringing forth the seven-year warranty, Rohit Gera, Managing Director, Gera Developments, says, “We were the first in the country to offer the five-year warranty, which was around 15 years ago. Over the years, we have now improved our processes and integrated the fact that we are required to provide this kind of product quality backup to our customers. Now that we have the experience and are confident, in our continuous endeavour to keep offering the customer a better experience, we decided to extend the option to them of an extended warranty.”
According to Gera, the warranty is being offered to all projects where the previous warranty is still live. The company is giving backdated customers the opportunity to take on an additional two years on the same warranty. It will, therefore, open up to an estimated 4,000 units – which include customers with an existing warranty, under construction projects and projects that are still in the pipeline.