Do you know how banks have credit grades for your creditworthiness? It’s somewhat similar. The new CONQUAS banding groups developers into different bands: the most proven – those who have delivered numerous projects with few defects – fall into Band 1 and 2. (You can check it out for yourself here, there are currently 20 developers and 15 builders that have been awarded Band 1).
Band 3 has an “average” number of defects and incidents reported, and those in Bands 5 and 6 have a high incidence of defects. This isn’t just useful for homebuyers, it makes it clear to industry players – like main contractors and developers – where exactly they stand. CONQUAS has already helped to raise quality standards before, and this should help even create better standards in the future.
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