MahaRERA Cracks Down on Housing Projects: 628 Penalized for Non-Compliance
The Maharashtra Real Estate Regulatory Authority (MahaRERA) takes action against 628 housing projects across the state for failing to display their registration number and QR code.
MahareraReraReal Estate RegulationMaharashtraHousing ProjectsReal Estate MaharashtraJul 08, 2024
The Mumbai region, which includes Mumbai, Mumbai suburban, Thane, Nashik, and Konkan, saw 312 projects fined Rs 54.25 lakh, of which Rs 41.50 lakh has been collected. Out of the 628 projects, 250 are from Pune and 66 from Nagpur region.
MahaRERA has urged homebuyers to avoid transactions with housing projects that do not display the mandatory RERA registration number. Chairperson of MahaRERA Ajoy Mehta said punitive action against violators will continue.
To effectively enforce guidelines and identify violators, MahaRERA collaborated with the Advertising Standards Council of India (ASCI). The partnership, supported by artificial intelligence, has successfully identified violations in newspapers, websites, online video streaming channels, and social media. Interestingly, the rate of violations is notably higher on social media compared to traditional advertising formats, according to MahaRERA.
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.
Since August 1, 2023, developers are also required to provide detailed information about the project, such as the project’s name, developer’s name, registration renewal status, expected completion date, pending complaints, pending litigations, and any recovery warrants issued. A scan of the project’s QR code should reveal all this information.
Maharashtra Real Estate Regulatory Authority (MahaRERA) is a regulatory body established under the Real Estate (Regulation and Development) Act to protect the interests of homebuyers and promote fairness and transparency in the real estate sector. The Advertising Standards Council of India (ASCI) is a self-regulatory organization that aims to promote responsible advertising practices in India.
Frequently Asked Questions
What is the total amount of fine collected from 628 housing projects?
Rs 72.35 lakh has been collected so far.
How many projects are from the Mumbai region?
312 projects are from the Mumbai region.
What is the purpose of MahaRERA?
MahaRERA aims to protect the interests of homebuyers and promote fairness and transparency in the real estate sector.
What information should a project's QR code reveal?
A scan of the project's QR code should reveal the project's name, developer's name, registration renewal status, expected completion date, pending complaints, pending litigations, and any recovery warrants issued.
When did the new regulations for developers come into effect?
The new regulations for developers came into effect on August 1, 2023.
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