628 Developers Face MahaRERA Action for Non-Compliance in Ads

10 Jul 2024 CW Team

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has initiated action against 628 real estate developers for failing to display their RERA registration numbers and QR codes in advertisements. This non-compliance violates the Real Estate (Regulation and Development) Act, 2016, aimed at enhancing transparency in the real estate sector.

The authority found that numerous developers neglected mandatory disclosure norms in their promotional materials, including brochures, online ads, and physical hoardings. Such omissions can mislead potential buyers and obscure crucial project details.

MahaRERA has issued show-cause notices to the defaulters, demanding explanations for their non-compliance. Developers are required to adhere strictly to the Act?s provisions, which mandate the inclusion of RERA registration numbers and QR codes in all advertisements to ensure authenticity and protect consumer interests.

The QR code, when scanned, provides comprehensive information about the project, including its registration status, approvals, and other critical data. This feature is designed to empower buyers with easy access to verified information, fostering a more transparent and accountable real estate market.

The developers now face penalties, including hefty fines and potential suspension of their project registrations. MahaRERA's stringent measures underscore its commitment to enforcing compliance and upholding the rights of homebuyers.

In addition to penalising defaulters, MahaRERA plans to intensify its monitoring efforts and launch awareness campaigns to educate developers about their obligations under the Act. The authority's proactive approach aims to ensure that all stakeholders adhere to the regulatory framework, promoting trust and reliability in the real estate sector.

This crackdown on non-compliance signifies MahaRERA?s dedication to maintaining stringent oversight and fostering a transparent real estate environment in Maharashtra.

Real Estate

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