Maharashtra: ASCI Cracks Down on Misleading Real Estate Ads
According to ASCI, real estate has emerged as the most violative sector, accounting for 34% of the complaints investigated.
AsciReal EstateMisleading AdsMahareraConsumer ProtectionReal EstateNov 26, 2024
Between April and September 2024, ASCI reviewed a total of 4016 complaints and investigated 3031 advertisements. Astonishingly, 98% of these ads required some form of modification. The council's vigilant monitoring of digital platforms led to the processing of 2830 ads, which constituted 93% of the total ads examined.
Of the 3031 ads investigated, 2087 were found to be in violation of the law. A substantial number of these—1027—were reported to the Maharashtra Real Estate Regulatory Authority (MahaRERA) under a Memorandum of Understanding (MoU) between ASCI and MahaRERA.
According to ASCI, the real estate sector has emerged as the most violative, accounting for 34% of the cases investigated. This highlights the pressing need for increased regulation and oversight in this sector to protect consumers from misleading advertising practices.
Manisha Kapoor, CEO of ASCI, commented, 'Our work in partnership with government regulators in sectors such as betting and realty is creating a significant impact. While there is still a long way to go, these partnerships are driving better oversight. With continuous improvements in our complaint management turnaround time and tech-supported efforts, ASCI is evolving to provide better protection to consumers in India.'
ASCI's commitment to consumer protection is evident through its robust investigative processes and collaborative efforts with regulatory bodies. The ongoing vigilance and proactive measures are crucial in maintaining the integrity of the advertising landscape, especially in sectors like real estate where consumer trust is paramount.
The Maharashtra Real Estate Regulatory Authority (MahaRERA) is a government body established to regulate the real estate sector in the state of Maharashtra. Its primary functions include ensuring compliance with the Real Estate (Regulation and Development) Act, 2016, and protecting the rights and interests of homebuyers and developers. The partnership with ASCI enhances MahaRERA's ability to tackle misleading advertisements and maintain a fair and transparent market.
Moving forward, the combined efforts of ASCI and MahaRERA will be essential in curbing the prevalence of misleading real estate ads and ensuring a more trustworthy and reliable market for consumers.
Frequently Asked Questions
What is the Advertising Standards Council of India (ASCI)?
The Advertising Standards Council of India (ASCI) is a self-regulatory organization that sets and enforces standards for advertising in India. Its primary goal is to ensure that advertisements are truthful, legal, and decent, thereby protecting consumers from misleading and harmful content.
How many complaints did ASCI review between April and September 2024?
ASCI reviewed a total of 4016 complaints between April and September 2024.
What percentage of the investigated ads required modification?
98% of the investigated ads required some form of modification.
Which sector accounted for the highest percentage of violative ads?
The real estate sector accounted for 34% of the violative ads investigated by ASCI.
What is the role of the Maharashtra Real Estate Regulatory Authority (MahaRERA)?
The Maharashtra Real Estate Regulatory Authority (MahaRERA) is a government body that regulates the real estate sector in Maharashtra. It ensures compliance with the Real Estate (Regulation and Development) Act, 2016, and protects the rights and interests of homebuyers and developers.
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