Maharashtra Real Estate Regulatory Authority Cracks Down on Non-Compliant Housing Projects
MahaRERA initiates action against 628 housing projects for failing to display registration number and QR code, resulting in fines of Rs 88.90 lakh.
MaharashtraReal EstateHousing ProjectsMahareraQr CodeReal Estate NewsJul 08, 2024
The Mumbai region alone saw 312 projects fined Rs 54.25 lakh, of which Rs 41.50 lakh has been collected. MahaRERA has urged homebuyers to avoid transactions with housing projects that do not display the mandatory RERA registration number. Chairperson of MahaRERA, Ajoy Mehta, emphasized that punitive action against violators will continue. To effectively enforce guidelines and identify violators, MahaRERA collaborated with the Advertising Standards Council of India (ASCI), utilizing artificial intelligence to identify violations across various media formats, including digital platforms.
This partnership has successfully identified violations in newspapers, websites, online video streaming channels, and social media, with a higher rate of violations on social media compared to traditional advertising formats. Under the Real Estate (Regulation and Development) Act, any project in Maharashtra exceeding 500 square metres or involving more than eight apartments (including plots) must be registered with MahaRERA.
Marketing and sales activities for such projects are prohibited without a registration number from MahaRERA. Additionally, developers are required to provide detailed information about the project, including the project’s name, developer’s name, registration renewal status, expected completion date, pending complaints, pending litigations, and any recovery warrants issued, which can be accessed by scanning the project’s QR code.
Frequently Asked Questions
How many housing projects were fined by MahaRERA?
628 housing projects were fined by MahaRERA for failing to display their registration number and QR code.
What is the total amount of fines collected by MahaRERA?
Rs 72.35 lakh has been collected as fines from the 628 housing projects.
Which region had the most number of fined projects?
The Mumbai region had the most number of fined projects, with 312 projects fined Rs 54.25 lakh.
What is the purpose of the QR code in real estate projects?
The QR code provides detailed information about the project, including the project’s name, developer’s name, registration renewal status, expected completion date, pending complaints, pending litigations, and any recovery warrants issued.
What is the penalty for not displaying the RERA registration number?
Projects that fail to display the RERA registration number can face punitive action, including fines, and marketing and sales activities for such projects are prohibited.
Related News Articles
Unlocking Opportunities in the Real Estate Insurance Market: Trends, Insights, and Projections
Discover the latest trends, challenges, and opportunities in the real estate insurance market, featuring key players, regional analysis, and market segmentation.
Pune Real Estate Market Sees 50% Jump in Registered Transactions, Average Home Price Reaches Record High
The number of real estate transactions in Pune has increased significantly, with registered transactions surging by 50% in the April-June 2024 quarter.
Haryana and Jammu & Kashmir Assembly Election Dates Announced by EC; Results to be Declared on October 4
The Election Commission of India has announced the dates for the Haryana and Jammu & Kashmir assembly elections. The polls will be held in a single phase on October 21, and the results will be declared on October 4.
Century Textiles Acquires 10-Acre Land in Mumbai for ₹1100 Crore, Expects ₹14,000 Crore in Revenue
Century Textiles plans to develop the land through its real estate subsidiary Birla Estates, expecting ₹14,000 crore in revenue from the project.
Virgo Daily Horoscope for September 14, 2024: A Temporary Setback in Assets and Real Estate Deals
Be cautious with real estate deals today, as a temporary decline in assets may occur. However, this setback will be short-lived.
DLF Q2 Earnings Skyrocket: Net Profit Surges to ₹1381 Crore
DLF, India's leading real estate firm in terms of market capitalization, has reported a remarkable surge in its Q2 net profit, jumping over twofold to ₹1381 crore. The company, primarily engaged in the development and sale of residential and commercial pr