MahaRERA Cracks Down on Non-Compliant Housing Projects in Maharashtra
MahaRERA takes suo motu action against 628 housing projects for non-compliance with registration and QR code rules, protecting homebuyers' interests.
MahareraReraMaharashtra Real EstateQr CodeHousing ProjectsReal Estate MaharashtraJul 08, 2024
Of the 628 projects, 312 are from the Mumbai region, 250 from the Pune region, and 66 from the Nagpur region. MahaRERA has appealed to homebuyers to exercise caution and not engage in transactions with housing projects that do not possess the mandatory RERA registration number.
According to Ajoy Mehta, Chairman of MahaRERA, promoters of housing projects are not permitted to advertise their projects without a MahaRERA registration number. Moreover, starting August 1, 2023, it is mandatory to display a QR code with every advertisement, enabling homebuyers to access crucial project-related information.
To ensure effective implementation of the guidelines and identify violators, MahaRERA collaborates with the Advertising Standards Council of India (ASCI). This partnership helps to monitor advertisements across traditional and new-age media, including social media, websites, and online video streaming channels.
Information Maharashtra Real Estate Regulatory Authority (MahaRERA) is a regulatory body established under the Real Estate (Regulation and Development) Act to regulate and promote the real estate sector in Maharashtra.
The Advertising Standards Council of India (ASCI) is a self-regulatory organization that aims to promote responsible advertising practices in India.
MahaRERA's initiative is crucial in protecting homebuyers from fraudulent activities and ensuring that developers comply with the regulations. By scanning the QR code, homebuyers can access vital information about the project, including the project's name, developer's name, renewal of project registration, expected date of completion, registration status, pending complaints, and pending litigations.
Despite the measures in place, some developers continue to disregard the guidelines, prompting MahaRERA to initiate suo motu action against violators and serve them show-cause notices.
Frequently Asked Questions
What is MahaRERA?
MahaRERA is the Maharashtra Real Estate Regulatory Authority, a regulatory body established under the Real Estate (Regulation and Development) Act to regulate and promote the real estate sector in Maharashtra.
What is the significance of QR code in housing project advertisements?
The QR code enables homebuyers to access crucial project-related information, including the project's name, developer's name, renewal of project registration, expected date of completion, registration status, pending complaints, and pending litigations.
What is the penalty for developers who do not comply with MahaRERA regulations?
MahaRERA initiates suo motu action against violators and serves them show-cause notices. Further penalties may be imposed depending on the severity of the non-compliance.
How does MahaRERA monitor advertisements to identify violators?
MahaRERA collaborates with the Advertising Standards Council of India (ASCI) to monitor advertisements across traditional and new-age media, including social media, websites, and online video streaming channels.
What is the purpose of MahaRERA's initiative to take action against non-compliant housing projects?
The purpose is to protect homebuyers' interests and ensure that developers comply with the regulations, thereby promoting transparency and accountability in the real estate sector.
Related News Articles
Maharashtra Proposes New 180m Height Cap for Taller Skyscrapers in Mumbai
Maharashtra is planning to increase the height limit for high-rises from 120m to 180m, a move that has been met with enthusiasm by the real estate industry. This new proposal could reshape Mumbai's skyline and open up new opportunities for development.
Bollywood's Real Estate Investments: Stars Diversify Wealth with Smart Property Moves
From luxurious apartments to sprawling commercial spaces, Bollywood stars are making smart moves in the property market, diversifying their wealth and securing their financial futures.
Arkade Developers Aims for Rs 21 Billion Revenue from New Projects
Arkade Developers, a prominent player in the real estate market, is set to achieve a significant milestone with its ambitious plan to generate Rs 21 billion in revenue from three new projects. The company's focus on redevelopment is expected to play a cru
Maharashtra Cabinet Waives Toll Tax for LMVs at Mumbai’s Five Entry Points
The Maharashtra government has approved a waiver in toll tax on light motor vehicles (LMVs) at Mumbai’s five entry points, providing relief to daily commuters and residents.
Pattaya: The Next Big Thing for Indian Property Investors
Pattaya, a popular coastal city in Thailand, is rapidly emerging as a lucrative destination for Indian real estate investors. Discover why this Southeast Asian gem is becoming a top choice.
CM Fadnavis Outlines Maharashtra's Vision for a $1 Trillion Economy and BMC Polls
Maharashtra's Chief Minister, Devendra Fadnavis, has set an ambitious goal for the state to become a $1 trillion economy. He also addressed the upcoming BMC polls, emphasizing the state's commitment to development and governance.