Dedicated locality research platform
Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued a directive requiring the display of QR codes in all advertisements or social media displays for registered housing projects. This new regulation will come into effect on August 1. The move comes after MahaRERA started issuing QR codes for registered projects in March. These QR codes provide essential information about the projects when scanned by homebuyers, including details such as commencement and completion dates, information on complaints, necessary approvals, modifications in approved plans, and project renewal. Currently, there are approximately 40,000 projects registered with MahaRERA.
By incorporating QR codes into advertisements and other media platforms, MahaRERA aims to empower customers to make well-informed decisions about their property investments. Homebuyers will no longer need to contact builders or visit developers' websites to access project information. Instead, they can simply scan the QR code and immediately obtain the necessary details.
A circular issued by MahaRERA highlights the importance of prominently featuring the QR code in all project-related advertisements, including those in newspapers, electronic media, and popular social media channels such as Instagram, Twitter, and WhatsApp. This ensures widespread accessibility and convenience for potential buyers.
Under the RERA Act, developers are obligated to update project information on their websites every 3 to 6 months. Additionally, the inclusion of Form 5, a crucial document that showcases the project's current status, total cost, and other pertinent details, on the project website annually is mandatory. The introduction of QR codes simplifies this process for users, allowing them to conveniently access the information from the comfort of their homes.
The implementation of QR codes is expected to benefit homebuyers and investors significantly. In the past, many developers failed to display the registration number and website address of MahaRERA, making it challenging for citizens to access the information uploaded on the website. However, with the introduction of QR codes, the public will have an advanced search feature at their disposal, enhancing transparency and facilitating informed decision-making.
Ramesh Prabhu, Chairman of the Maharashtra Society Welfare Association, expressed his support for the implementation of QR codes. He stated that this new system would alleviate the difficulties faced by homebuyers and investors, as it will streamline access to crucial information that was previously inaccessible. By utilizing the QR codes, individuals will have a more convenient and efficient means of conducting research and due diligence before making property investments.
In conclusion, MahaRERA's directive to display QR codes in advertisements and social media displays for registered housing projects marks a significant step towards enhancing transparency and accessibility in the real estate sector. This move empowers homebuyers and investors by providing them with immediate access to vital project information, ensuring informed decision-making and greater confidence in their property investments.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
