MahaRERA Acts Against 628 Developers for RERA Non-compliance

MahaRERA Acts Against 628 Developers for RERA Non-compliance

MahaRERA Acts Against 628 Developers for RERA Non-compliance

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The Maharashtra Real Estate Regulatory Authority (MahaRERA) has recently cracked down on developers failing to display the RERA registration number and QR code in their advertisements. This initiative has resulted in penalties amounting to ₹88.90 lakh imposed on 628 real estate projects across Maharashtra.

Among these projects, 312 are located in the Mumbai Metropolitan Region (MMR), 250 in Pune, and 66 in Nagpur. The penalties were enforced with support from the Advertising Standards Council of India, ensuring adherence to advertising norms.

Specifically, Mumbai city, suburbs, Thane, and Panvel saw penalties totaling ₹54 lakh on 312 projects, with ₹41.50 lakh already recovered from non-compliant developers. The importance of displaying the RERA registration number is mandated by law for projects exceeding 500 square meters or comprising more than eight apartments. This requirement aims to protect homebuyers by ensuring transparency and accountability in real estate transactions.

Despite regulations, some developers continue to advertise without the necessary RERA disclosures, prompting ongoing enforcement actions by MahaRERA. Additionally, starting August 2023, displaying a QR code with every advertisement became mandatory to provide easy access to project details for prospective buyers.

MahaRERA has urged homebuyers to exercise caution and avoid investing in projects lacking a valid RERA registration number, emphasizing that compliance ensures legal validity and consumer protection. The authority remains vigilant against violations, aiming to uphold fair practices in Maharashtra’s real estate sector.

This proactive stance by MahaRERA highlights its commitment to enforcing regulatory standards and maintaining transparency in the real estate market, safeguarding the interests of property buyers across the state.