MahaRERA Cracks Down on Housing Projects for Non-Compliance
MahaRERA has penalized 628 housing projects across Maharashtra for failing to display registration numbers and QR codes in advertising materials.
Real EstateMaharashtraMahareraReraHousing ProjectsReal Estate MumbaiJul 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. The Pune region accounted for 250 projects, while 66 projects were from the 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 that punitive action against violators will continue.
To effectively enforce guidelines and identify violators, MahaRERA collaborated with the Advertising Standards Council of India (ASCI). This 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.
Frequently Asked Questions
What is MahaRERA?
MahaRERA stands for Maharashtra Real Estate Regulatory Authority, which is a regulatory body established to ensure transparency and accountability in the real estate sector in Maharashtra.
Why are housing projects fined by MahaRERA?
Housing projects are fined by MahaRERA for failing to display their registration number and QR code in advertising materials, which is mandatory under the Real Estate (Regulation and Development) Act.
How many projects were penalized by MahaRERA?
MahaRERA penalized 628 housing projects across Maharashtra for non-compliance.
What is the purpose of the QR code in real estate projects?
The QR code provides 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.
What is the benefit of registering with MahaRERA?
Registering with MahaRERA ensures that the project meets the required standards and guidelines, providing a sense of security and trust for homebuyers.
Related News Articles
Experience the Magic of Konkan Living with Nakshatra Bungalow Township
Discover the ultimate blend of traditional charm and modern amenities at Nakshatra, PPROM Developers' latest project in Dapoli, Maharashtra.
Sustainability Takes Center Stage in Indian Real Estate
Manit Rastogi, founding partner of Morphogenesis, discusses the increased demand for sustainability and eco-friendly homes in Indian real estate.
Tina Ahuja, Daughter of Govinda, Faces Backlash Over 'Only Mumbai Girls Complain About Period Pain' Comment
Tina Ahuja, the daughter of Bollywood star Govinda, has sparked controversy with her recent statement about period pain, drawing significant backlash from various quarters. The comment has ignited a debate on social media, with many criticising her for tr
Real Estate Moguls: The Power and Influence Behind Today’s Billion-Dollar Properties
In the dynamic world of real estate, a select few have risen to the top, amassing incredible wealth and influence. These real estate moguls shape the skylines of cities around the globe and play a crucial role in the economic landscape. This article delve
Mahindra Lifespaces Secures ₹950 Crore Deal for Mumbai Housing Societies Redevelopment
Real estate developer Mahindra Lifespaces has announced a significant redevelopment deal worth ₹950 crore for three housing societies in Mumbai, further solidifying its position in the city's real estate market.
PNB Housing's Key Fundamentals and Growth Triggers: Insights from Sandeep Jain
Discover the key growth triggers and fundamental strengths of PNB Housing, as revealed by Sandeep Jain. Learn how the company is poised for success in the Indian housing finance sector.