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The Maharashtra Real Estate Regulatory Authority (MahaRERA) has collaborated with the Advertising Standards Council of India (ASCI) to identify developers advertising projects without registration number and QR code. Both entities have entered into a Memorandum of Understanding (MoU) with Administrative Officer Vasant Vani and ASCI’s Chief Executive Officer Manisha Kapoor as signatories. ASCI is a voluntary self-regulatory organization in the advertising sector committed to protection of consumer interests across media of newspapers, television channels, social media, websites etc.
As per the agreement, Artificial Intelligence will be used to detect advertisements published without MahaRERA registration number and QR code. For this, a core group will be created to track, monitor and evaluate such advertisements and eventually bring it to the notice of MahaRERA.
Last year, MahaRERA began initiating suo motu action against advertisements published without a registration number and QR code. After having observed the violations seeping into new age media along with traditional forms, MahaRERA authorities took a decision to expand its vigilance. It now aims to monitor all forms of advertisement sources and medium through its collaboration with ASCI.
MahaRERA, Chairman, Mr. Ajoy Mehta, said that “MahaRERA has succeeded in instilling confidence for a housing project to have a MahaRERA registration number, which is a sign of safe investment. Developers are not permitted to advertise unless the project is registered with MahaRERA. Now, having a QR code on the advertisements is also mandatory, to enable home buyers access project’s detailed information at a single click.” He believes that the latest move with ASCI will definitely help in curbing misleading and incorrect advertisements.
As per the RERA, any project (including plots) of over 500 square meters or 8 flats must be registered with the MahaRERA. Without the registration number, no developer can publicise or market or sell any property in the project.
Starting August 1, MahaRERA made it mandatory to include QR code in every advertisement published by the developer. Homebuyers can scan the code using their smartphones to get information about a real estate project including details such as the name of the developer, date of registration, expected date of completion, complaints against the project, approvals received, and status after construction starts followed by approved plans, litigation and other details crucial for the project.
Prior to investing in any residential project, and to safeguard the amount, it is necessary to check if MahaRERA registration number along with the QR code is also publicised. MahaRERA has adopted a “zero tolerance” approach to ensure all the advertisements related to any real estate project have a registration number and a QR code.
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