Mumbai: In a move aimed at enhancing transparency and safeguarding homebuyers, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has made it mandatory for all real estate advertisements to prominently display the project's MahaRERA registration number, QR code, and the regulator’s website address.
Circular Issued
As per a circular issued on April 8, the new guidelines have come into force with immediate effect. All developers are required to update their advertisements accordingly or face strict penalties.
According to MahaRERA, these regulatory details must now be printed in a font size that is equal to or larger than that of the project's contact information. Furthermore, the details must be placed in the top-right quadrant of the advertisement and displayed in a distinct colour to ensure maximum visibility.
“It has often come to the notice of MahaRERA that registration details are buried in obscure spots using small fonts and light colours,” read the official statement issued on Thursday. “Such practices defeat the purpose of transparency and make it difficult for homebuyers to verify if a project is MahaRERA registered.”
What's The Objective?
The objective behind the move, the statement said, is to empower potential homebuyers with easy access to project details through a simple scan or click. The QR code will allow users to view registration information and compliance status directly from the regulator’s website.
The circular applies to all forms of advertising including newspapers, leaflets, booklets, hoardings, electronic media, banners, social media platforms, WhatsApp, and other messaging services.
Non-compliance could attract a penalty of up to Rs 50,000. Developers found violating the norms will be given 10 days to make the necessary corrections. Continued violations will be treated as an offence under the Real Estate (Regulation and Development) Act, 2016.
"MahaRERA has urged developers and all real estate stakeholders to adhere strictly to the new norms in the interest of transparency and consumer protection" further read the statement.
