The Maharashtra Real Estate Regulatory Authority (MahaRERA) has collaborated with the Advertising Standards Council of India (ASCI) to identify developers advertising projects without registration numbers and QR codes.
According to MahaRERA chairman Ajoy Mehta, developers are not permitted to advertise unless the project is registered with MahaRERA.
"We cannot ignore new-age media, where newer avenues of advertising are being created"
“Whenever we observed any advertisements without a registration number, we initiated ex officio penal action against such erring developers. Now, having a QR code on the advertisements is also mandatory, to enable home buyers to access project’s detailed information at a single click. We cannot ignore the new-age media, where newer avenues of advertising are being created."
"Thus, we are taking the help of ASCI, a self-regulatory organisation and experts in the field to identify and prevent such misleading or incomplete advertisements across any medium. The latest move will help in curbing such misleading and incorrect advertisements," he said.
ASCI
ASCI is a voluntary self-regulatory organisation in the advertising sector committed to protection of consumer interests across media of newspapers, television channels, social media, websites etc.
MahaRERA has entered into a Memorandum of Understanding (MoU) with the ASCI to protect homebuyer’s interests. MahaRERA’s administrative officer Vasant Vani and ASCI’s chief executive officer Manisha Kapoor are signatories of the same, a press note issued by the regulatory body said.
“As per the agreement, Artificial Intelligence will be utilised 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”, the note added.
MahaRERA wants the area of action expanded
"MahaRERA is of the view that the area of action should be expanded further and include all advertisement sources/medium. Hence, a decision was taken to collaborate with ASCI," a MahaRERA spokesperson told FPJ.
As per the Rera Act, any project (including plots) of over 500 sq mt or eight 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 has also made it mandatory to include a QR code in every advertisement published by the developer. Through the QR code, all information about the project is made accessible and available with a single click.
Before investing in any residential project, and to safeguard the amount, it is necessary to check if the 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.
