Maharashtra: Real Estate Developers Penalized for Misleading Ads
The Advertising Standards Council of India (ASCI) has released its Half-Yearly Complaints Report 2024-25, which highlights the significant presence of misleading and illegal advertisements in the real estate sector. The report reveals that between April a
Real EstateAsciMahareraAdvertisingConsumer ProtectionReal Estate NewsNov 26, 2024
ASCI reviewed a total of 4016 complaints and investigated 3031 advertisements, with 98% of the ads requiring some form of modification. The council's ongoing vigilance on digital platforms led to the processing of 2830 ads, which accounted for 93% of the total ads taken up. Of the ads investigated, 2087 were found to be in violation of the law. Notably, 1027 of these were reported to the Maharashtra Real Estate Regulatory Authority (MahaRERA) under a Memorandum of Understanding (MoU) between ASCI and MahaRERA.
According to the report, the real estate sector emerged as the most violative, accounting for 34% of the cases investigated. This highlights the need for stricter regulations and oversight to ensure transparency and honesty in real estate advertising.
Frequently Asked Questions
What is the Advertising Standards Council of India (ASCI)?
ASCI is a self-regulatory organization that aims to maintain ethical standards in advertising and protect consumers from misleading and illegal advertisements. It investigates complaints and works with regulatory bodies to ensure compliance with advertising laws.
What is the Maharashtra Real Estate Regulatory Authority (MahaRERA)?
MahaRERA is a regulatory body established to protect the interests of homebuyers and promote transparency and accountability in the real estate sector in Maharashtra. It ensures that developers comply with the Real Estate (Regulation and Development) Act, 2016.
How many complaints did ASCI review in the 2024-25 half-yearly report?
ASCI reviewed a total of 4016 complaints in the 2024-25 half-yearly report.
What percentage of the investigated ads needed modification?
98% of the investigated ads needed some form of modification.
What sector was found to be the most violative according to the report?
The real estate sector was found to be the most violative, accounting for 34% of the cases investigated.
Related News Articles
Revolutionizing Gurgaon Real Estate: How Dwarka Expressway is Transforming the Region
The construction of Dwarka Expressway has boosted the real estate sector in Gurgaon and adjoining areas, with property prices increasing by 83% over the past decade.
India's Warehousing and Logistics Sector Sees 8% YoY Growth in H1 2024
The first half of 2024 witnessed a significant increase in warehousing and logistics absorption, with Mumbai and Pune leading the charge. The sector also saw a notable increase in investments, with $1.6 billion poured in during H1 2024.
Diwali Offers: Exciting Home-Buying Opportunities in Mumbai
This Diwali, real estate developers in Mumbai are rolling out exciting offers for homebuyers, making it a golden opportunity to secure your dream home.
GMADA Reaps ₹1,893 Crore from Successful Property Auction in Diwali
In a significant boost for the Mohali real estate sector, GMADA has reported an impressive ₹1,153 crore from the sale of 295 out of 298 residential plots during a recent property auction.
Virar-Alibaug Multimodal Corridor: Transforming Travel and Real Estate in Mumbai
The construction of the 126 km long Virar-Alibaug Multimodal Corridor is set to revolutionize travel and real estate in the Mumbai Metropolitan Region (MMR). With an estimated cost of ₹55,000 crore, this ambitious project will significantly reduce travel
Aditya Birla Real Estate Confirms No Impact on Niyaara Project After Supreme Court Setback
Despite a recent Supreme Court ruling against Aditya Birla Real Estate, the company has reassured stakeholders that it will not affect the Birla Niyaara project in Worli. The land in question, separate from the Niyaara site, is involved in a legal dispute