Real Estate Sector Tops in Exploiting Advertising Standards: Asci Report
real estate, real estate advertising, MahaRERA, Asci, illegal betting
Real EstateAsciMahareraIllegal BettingGreen ClaimsReal Estate MumbaiNov 27, 2024
The Maharashtra Real Estate Regulatory Authority (MahaRERA) reviewed 1,027 ads from the real estate sector and found that 99% were in violation of the MahaRERA Act. As a result, MahaRERA penalized 628 real estate developers, imposing a total penalty of Rs 88.90 lakh. In 59% of these cases, the advertisers promptly complied by either modifying their ads to include the necessary information or withdrawing them entirely.
Asci's report also delved into the issue of illegal betting and gambling, where 890 ads were reviewed and sent to the Ministry of Information and Broadcasting for further action. A significant portion of these ads, 831 to be precise, were Instagram posts featuring betting tickers that directed viewers to offshore betting platforms. These tags and tickers appeared on fan and community pages on Instagram, with some page owners reportedly earning daily amounts between Rs 2,000 and Rs 3,000 by featuring these logos. Additionally, 50 websites and social media pages were identified as promoting illegal betting apps and platforms, and nine influencer posts were found endorsing illegal betting services.
Environmental claims in advertising were another area of focus. Asci reviewed 100 advertisements for potential violations of the Asci Guidelines for green claims. The majority of the violative ads were from the Home Care sector, where products claimed to be eco-friendly or environment-friendly without adequate support data. Asci noted that of the total ads processed, 53% were not contested and were promptly withdrawn or modified.
The Advertising Standards Council of India (Asci) is a self-regulatory body that aims to maintain fairness and truthfulness in advertising. It plays a crucial role in ensuring that advertisers adhere to ethical standards and guidelines to protect consumers and the integrity of the advertising industry.
The Maharashtra Real Estate Regulatory Authority (MahaRERA) is a regulatory body established under the Real Estate (Regulation and Development) Act, 2016. It aims to protect the interests of homebuyers and promote a transparent and efficient real estate market in Maharashtra.
Despite the robust measures taken by Asci and MahaRERA, the real estate sector continues to face challenges in complying with advertising norms. The high rate of violations highlights the need for stricter enforcement and continuous monitoring to ensure that consumers are not misled by false or misleading advertisements.
The report also shed light on the growing trend of illegal betting and the role of social media platforms in facilitating such activities. The substantial earnings of page owners from featuring betting tickers underscore the lucrative nature of this illegal practice and the need for stricter regulations and enforcement.
In the context of environmental claims, the report emphasized the importance of transparency and substantiation. Consumers are increasingly conscious of environmental issues, and false claims can not only mislead them but also harm the environment.
In conclusion, the Asci report serves as a valuable tool for policymakers and regulatory bodies to address the challenges in the advertising sector and ensure a fair and transparent market for all stakeholders.
Frequently Asked Questions
What is the main finding of Asci's “Half-Yearly Complaints Report 2024-25”?
The main finding is that the real estate sector topped in exploiting advertising norms, with 34% of the 3031 ads investigated being from this sector.
How many real estate ads were found to be in violation of the MahaRERA Act?
99% of the 1,027 real estate ads reviewed were found to be in violation of the MahaRERA Act.
What actions were taken against violative ads in the illegal betting and gambling sector?
890 ads were reviewed and sent to the Ministry of Information and Broadcasting. 831 Instagram posts displayed betting tickers, and 50 websites and social media pages were identified as promoting illegal betting apps and platforms.
What is the role of Asci in the advertising industry?
Asci is a self-regulatory body that aims to maintain fairness and truthfulness in advertising, ensuring that advertisers adhere to ethical standards and guidelines to protect consumers.
What are the Asci Guidelines for green claims?
The Asci Guidelines for green claims require that advertisements making environmental claims must be substantiated with adequate data and be transparent to avoid misleading consumers.
Related News Articles
Ashar Group Launches Ambitious Rs 2000 Cr Thane Housing Project
Ashar Group's new project, Ashar Merac, in Thane will feature 1, 2, and 3 BHK apartments designed by architect Hafeez Contractor, with a revenue potential of Rs 2000 crore.
Luxury Homes Take Center Stage in NCR's Real Estate Market
NCR's real estate market witnesses a significant shift towards luxury homes, with Gurugram leading the way.
Gurugram's Golf Course Extension Road: The New Hub for Upscale Homebuyers
Golf Course Extension Road in Gurugram is witnessing a surge in demand from upscale homebuyers, with average property prices rising by 30% in the last year alone.
Has RERA Improved the Indian Real Estate Sector?
We explore the impact of RERA on the Indian real estate market and whether it has lived up to people's expectations.
NBT Office Relocation and Pune Book Festival Expected to Draw 7.5 Lakh Visitors
The National Book Trust (NBT) is set to shift its office to the city, a move that coincides with the highly anticipated Pune Book Festival. The festival, expected to attract 7.5 lakh visitors, is a significant cultural event that showcases a wide array of
HSR Layout: Bengaluru's Rising Real Estate Star in 2024
HSR Layout in Bengaluru has seen a 30% property price surge over two years, making it a key real estate hotspot for residential and commercial properties.