GujRERA Introduces QR Codes to Simplify Real Estate Project Information
The Gujarat Real Estate Regulatory Authority (GujRERA) has launched a new initiative effective October 1, incorporating Quick Response (QR) codes in all brochures and advertisements to provide buyers with easier access to project details.
GujreraQr CodesReal EstateGujaratRegulatory AuthorityReal EstateOct 13, 2024
The QR code will provide buyers and customers with detailed information about the projects, making it easier for them to stay informed about upcoming developments. This order was passed into effect earlier this month and significantly improves the transparency and clarity of information sharing in the real estate sector.
According to an official from GujRERA, the QR code will be provided in the RERA registration certificate. This will enable interested parties, such as buyers and investors, to quickly and easily access project information. However, it is important to note that only project details will be accessible through the QR code. Legal documents such as Agreements for Sale (AFS), sale deeds, and other related documents will still require the eight-digit RERA registration number. This safeguard ensures clarity and avoids misunderstandings in important legal dealings.
GujRERA has also required developers to display the eight-digit RERA number on their respective websites and on the GujRERA website. This additional measure further enhances transparency and helps buyers verify the legitimacy of the projects they are interested in.
In addition to this new initiative, GujRERA has postponed plans to penalize delays in Quarterly Progress Report (QPR) submissions. Initially, the authority had intended to impose penalties for delays on a daily basis to increase compliance and timely submissions. However, these plans are currently on hold as the authority considers updates to the compliance rules.
The postponement of penalties for QPR delays allows developers more time to adjust to the new reporting requirements and ensures a smoother transition. GujRERA remains committed to improving the real estate sector in Gujarat and will continue to monitor and update regulations to better serve the needs of buyers and developers alike.
Frequently Asked Questions
What is the new initiative introduced by GujRERA?
GujRERA has introduced QR codes on all brochures and advertisements published by real estate developers to provide buyers with easier access to project details.
When did the QR code initiative become effective?
The QR code initiative became effective on October 1, 2024.
What information will be accessible through the QR code?
The QR code will provide project details, but legal documents such as Agreements for Sale (AFS), sale deeds, and other related documents will still require the eight-digit RERA registration number.
Why is the eight-digit RERA registration number required for legal documents?
The eight-digit RERA registration number is required to ensure clarity and avoid misunderstandings in important legal dealings.
What are the current plans regarding penalties for delays in Quarterly Progress Report submissions?
GujRERA has postponed plans to penalize delays in Quarterly Progress Report submissions as they consider updates to compliance rules.
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