Crackdown on Real Estate Developers: MahaRERA Takes Action Against 628 Projects in Maharashtra
MahaRERA penalizes 628 projects in Pune, Mumbai, and Nagpur for not displaying RERA registration numbers and QR codes in advertisements.
Real EstateMahareraPuneMumbaiNagpurReal Estate PuneJul 08, 2024
The Mumbai region, which includes Mumbai, Mumbai suburban, Thane, Nashik, and Konkan, accounts for 312 of these projects, with total penalties amounting to Rs 54.25 lakh, of which Rs 41.50 lakh has been recovered. The Pune region, comprising Pune city, western Maharashtra, and Marathwada, has 250 projects facing penalties totaling Rs 28.30 lakh, with Rs 24.75 lakh already recovered. Meanwhile, 66 projects in the Nagpur region, covering all districts of Vidarbha, have been penalized Rs 6.35 lakh, with Rs 6.10 lakh recovered so far.
MahaRERA has appealed to homebuyers to ensure their investments are secure by only engaging with housing projects that display their mandatory RERA registration numbers. The authority has collaborated with the Advertising Standards Council of India (ASCI) to identify violators and keep a check on new-age advertising formats, including social media, online video streaming channels, and websites.
According to the Real Estate (Regulation and Development) Act, any project in Maharashtra exceeding 500 square meters or involving more than eight apartments must be registered with MahaRERA. No marketing activities or sales are permitted without securing a registration number from the authority.
As of August 1, 2023, developers are required to provide detailed project information, including the project's name, developer's name, renewal of registration, expected completion date, registration status, pending complaints, and pending litigations, among others. A simple scan of the project's QR code should disclose all this information. Despite this, some developers have continued to disregard the guidelines, prompting MahaRERA to initiate suo motu action against them.
The government established MahaRERA to ensure homebuyers' investments remain secure in the real estate sector and prevent financial losses. The authority is committed to maintaining trust in the sector and will not tolerate marketing content without a registration number and QR code.
MahaRERA Chairman Ajoy Mehta emphasized that promoters of housing projects are not permitted to advertise their projects without a MahaRERA registration number and QR code. He warned that the authority will continue to take punitive action against violators, ensuring that homebuyers' investments remain secure.
Frequently Asked Questions
What is MahaRERA?
MahaRERA stands for Maharashtra Real Estate Regulatory Authority, established to regulate the real estate sector in Maharashtra.
Why is it necessary to display RERA registration numbers and QR codes in advertisements?
Displaying RERA registration numbers and QR codes in advertisements ensures transparency and allows homebuyers to access crucial project information, thereby securing their investments.
What is the penalty for not displaying RERA registration numbers and QR codes in advertisements?
The penalty for not displaying RERA registration numbers and QR codes in advertisements can range from Rs 50,000 to Rs 1 lakh, depending on the project's size and location.
How does MahaRERA identify violators?
MahaRERA identifies violators through suo motu action, complaints from homebuyers, and collaboration with the Advertising Standards Council of India (ASCI).
What is the purpose of the QR code in real estate advertisements?
The QR code in real estate advertisements allows homebuyers to access detailed project information, including the project's name, developer's name, expected completion date, registration status, and pending complaints, among others.
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