CRISIL Real Estate Star Ratings

This ratings provide city specific all-round assessment of real estate projects and help buyers benchmark and identify quality projects within their city.


CRISIL Real Estate Star Ratings address two critical needs in the realty sector: improved transparency and objective benchmarking of projects.


The key factors evaluated in the Star Ratings process are:

  • Quality of legal documentation,
  • Construction related risks,
  • Financial flexibility/viability of the project besides the
    background, and
  • Track record of the project sponsor.

Star Ratings is based on an eight-point scale that is specific to the city - from 'City 7-Star', the highest, to 'City 1-Star', the lowest being 'Non-Deliverable Project'.

475 real estate projects rated
66 cities

Recently rated projects

Rating Scale

The Star Ratings are assigned on a city-specific, eight-point scale; for example, 'Mumbai One Star' to 'Mumbai Seven Star', seven being the highest. The lowest rating will be 'non-deliverable' project. The assigned rating will thus be a benchmark against other rated projects in the same city.


The ratings are available for proposed, ongoing and recently completed commercial and residential projects. Once the rating is assigned, the project will be monitored constantly, providing timely updates on project progress. The rating will be valid until the project is completed.

Our Rating Criteria

Project Sponsor Quality

  • Construction and legal track record
  • Organisation strength, systems & processes
  • Financial strength of developers (s)
Project Construction Quality
Project Legal Quality
Structural quality Clarity of Title
Infrastructure & Integrated Facilities Restrictive Covenants
Finishes Encumbrances
After-Sales Services Sale Agreement
Likelihood of Time and Cost Overruns Development Agreement


Project Financial Quality
Project Innovation Quality
Accounting Quality Innovation in the areas of Land acquisition/ Construction technology/ Building design/ Project funding
Project Economics or Viability
Financial Flexibility

Rating Parameters

Project Sponsor Quality

This parameter focuses on the developers' construction and legal track record, and comments on their financial strength and ability to complete the rated project.


Project Construction Quality

By providing an independent assessment of aspects such as structural quality, amenities, likelihood of time and cost overruns, and after-sales services, this parameter assumes critical importance.


Project Legal Quality

This parameter examines the land title, sales agreement and various other statutory approvals and clearances of the project.


Project Financial Quality

This parameter assesses the viability of the project, and financial flexibility and accounting quality of the developer.


Project Innovation Quality

This parameter examines the innovation in the project, and covers aspects such as construction technology and building design, among various aspects.

Top rated projects in your city


  • West Zone:
    Dnyanesh Nandurkar,
    Email :,
    Tel : 022-3342 3282/ 98204 56663

    Ajay Kumar,
    Email :,
    Tel : 80 4244 5399/ 97423 55502

  • East Zone:
    Anirudh Agarwal,
    Email :,
    Tel : 33-4011 8219/ 98309 92377

    North Zone: 
    Indranil Thakurta,
    Email :,
    Tel : 0124 6722413 / 8447172160

  • South Zone:
    Velumuni A,
    Tel : 044-66933629/9884299276