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
Maharashtra Deputy Speaker and 3 Others Jump from Third Floor of Mantralaya in Protest
In a shocking turn of events, Maharashtra Deputy Speaker Narhari Zirwal and three other legislators jumped from the third floor of Mantralaya, the state secretariat, while protesting against the government's consideration of including the Dhangar communit
Bengaluru's Bagaluru Area Sees 90% Jump in Property Prices in 5 Years
In a recent study, Bagaluru area in Bengaluru emerged as the top locality with a staggering 94% jump in property prices over the past 5 years, making it a hotspot for real estate investments.
Unlocking Career Opportunities: India's Real Estate Industry to Drive Employment Growth
The real estate sector is poised to create a plethora of career opportunities, driven by rapid urbanization and infrastructure development.
2024 Construction Industry Trends: Colliers India's Cost Report Insights
In 2024, the construction industry is set to witness significant shifts, driven by real estate, residential construction, skilled manpower, steel prices, supply chain management, and sustainability. Colliers India's latest cost report provides a comprehen
Pune: CREDAI Maharashtra and SuperHumanRace Sign MoU to Monitor Real Estate Emissions
Khairnar expressed that, ‘The real estate sector in Maharashtra is at the forefront of India's urban transformation. This initiative is a timely and vital step towards sustainability.'
Camden Trust Entangled in DOJ Antitrust Lawsuit: Impact on Real Estate Market
Camden Property Trust, a prominent player in the real estate sector, is facing a significant legal challenge as the Department of Justice (DOJ) has filed an antitrust lawsuit against the company. This development raises concerns for investors and the broa