MahaRERA Cracks Down on 628 Housing Projects for Non-Compliance
The Maharashtra Real Estate Regulatory Authority has taken action against 628 housing projects for not displaying registration numbers and QR codes in advertising materials.
MahareraReal EstateReraHousing ProjectsQr CodeRegistration NumberReal Estate PuneJul 08, 2024
MahaRERA has appealed to homebuyers to exercise caution and not engage in transactions with housing projects that do not have the mandatory RERA registration number. The authority has also emphasized the importance of displaying QR codes in all advertising materials, which enables homebuyers to access project-related information with ease.
The collaboration between MahaRERA and the Advertising Standards Council of India (ASCI) has played a crucial role in identifying violators across various mediums, including newspapers, websites, online video streaming channels, and social media. Surprisingly, the rate of violation is significantly higher on social media than traditional formats of advertisements.
According to MahaRERA Chairman Ajoy Mehta, promoters of housing projects are not permitted to advertise their projects without a MahaRERA registration number. Mehta emphasized that having a MahaRERA registration number is synonymous with secure investment in real estate, as it instills a sense of trust among flat purchasers.
As per the Real Estate (Regulation and Development) Act, it is mandatory for any project in Maharashtra that exceeds 500 square meters or involves more than eight apartments (including plots) to be registered with MahaRERA. No marketing activities or sales in such housing projects are permitted without securing a registration number from MahaRERA.
MahaRERA has also made it mandatory for developers to provide detailed information pertaining to the project, including the project's name, developer's name, renewal of project's registration, expected date of completion, registration status, pending complaints, pending litigations, and any recovery warrants issued, among others. A simple scan of the project's QR code should disclose all this information related to the project.
Despite making it mandatory to print registration numbers and QR codes in all publicity materials, some developers continue to disregard the guideline. Hence, MahaRERA initiated suo motu action against such violators and also served them show cause notices.
Frequently Asked Questions
What is the purpose of MahaRERA registration number?
The MahaRERA registration number is a unique identifier assigned to a housing project, which ensures that the project is authenticated and compliant with the Real Estate (Regulation and Development) Act.
What is the significance of QR code in real estate advertisements?
The QR code enables homebuyers to access project-related information, including the project's name, developer's name, renewal of project's registration, expected date of completion, registration status, pending complaints, pending litigations, and any recovery warrants issued, among others.
What is the penalty for not displaying registration number and QR code in advertising materials?
The penalty for not displaying registration number and QR code in advertising materials is Rs 88.90 lakh, of which Rs 72.35 lakh has been recovered so far.
How does MahaRERA identify violators of the guideline?
MahaRERA takes assistance from the Advertising Standards Council of India (ASCI) to identify violators across various mediums, including newspapers, websites, online video streaming channels, and social media.
What is the importance of MahaRERA registration in ensuring secure investment in real estate?
Having a MahaRERA registration number is synonymous with secure investment in real estate, as it instills a sense of trust among flat purchasers.
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