The Maharashtra Real Estate Regulatory Authority (MahaRERA) has launched an investigation into 628 real estate projects for failing to display the required RERA registration number and QR code in their advertisements. This oversight has led to a collective penalty of ₹88.90 lakh being imposed on the offending developers.
According to MahaRERA, of the 628 scrutinized projects, 312 are located in the Mumbai Metropolitan Region (MMR), 250 in Pune, and 66 in the Nagpur region. The enforcement actions are being taken in collaboration with the Advertising Standards Council of India (ASCI).
As of now, MahaRERA has recovered ₹72.35 lakh of the total penalty from these projects. Specifically, in MMR, penalties amounting to ₹54 lakh have been imposed on 312 projects in Mumbai, its suburbs, Thane, and Panvel, with ₹41.50 lakh already collected from developers in these areas.
MahaRERA has emphasized the importance of transparency in real estate advertising, urging homebuyers to avoid investing in projects that lack a RERA registration number. Under the RERA Act, any real estate project (including plots) exceeding 500 square meters or eight apartments must be registered with MahaRERA. Developers cannot legally market, publicize, or sell properties without this registration number, except for projects that have received an occupation certificate.
Starting August 2023, it is mandatory for all advertisements to display a QR code, providing homebuyers easy access to detailed project information. Despite this, some developers continue to flout these regulations, prompting MahaRERA to remain vigilant and take regular action against non-compliance.
"MahaRERA registration is synonymous with a secure investment, instilling trust among buyers. Following the successful implementation of QR codes for housing projects in Maharashtra, regulatory authorities in other states are also adopting this practice," said Ajoy Mehta, chairman of MahaRERA.
In an effort to further enforce these norms, MahaRERA announced on February 15 that it is leveraging artificial intelligence to identify and book developers who violate these advertising guidelines. This initiative is part of a collaboration with ASCI, a voluntary self-regulatory organization in the advertising sector, aimed at penalizing non-compliant developers.
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