The Maharashtra Real Estate Regulatory Authority (MahaRERA) has tightened its grip on real estate developers in the state, penalizing 628 for flouting advertising regulations. These developers failed to include the mandatory RERA registration number and QR code in their advertisements, leading to a collective fine of Rs 88.90 lakh. Notably, over Rs 72.35 lakh has already been recovered by MahaRERA.
The crackdown targeted projects across Maharashtra, with Mumbai leading the pack with 312 violations. Pune followed closely with 250 projects, and Nagpur saw 66 unregistered projects advertised. This action by MahaRERA sends a strong message to developers, emphasizing their commitment to protecting homebuyer rights. By ensuring transparency in advertising practices, MahaRERA aims to empower homebuyers to make informed decisions and avoid fraudulent or unregistered projects.
This move comes amidst growing concerns about misleading advertisements in the real estate sector. The RERA registration number and QR code function as crucial tools for homebuyers. The registration number verifies a project’s legitimacy, while the QR code provides easy access to vital project details, including project plans, approvals, and carpet areas. This information empowers homebuyers to compare projects effectively and avoid falling prey to misrepresented information.
