MahaRERA takes action on 370 projects for not showing QR codes and registration numbers, bringing more transparency to property deals.
To uphold transparency and safeguard property buyer’s interests, MahaRERA has taken strict action against 370 projects across Maharashtra. The real estate regulatory authority has issued show-cause notices and imposed fines totalling Rs. 33 lakh for the absence of MahaRERA registration numbers and QR codes on project advertisements.
The maximum number of notices, 173 to be precise, were handed out in Mumbai, followed closely by Pune with 162 notices, and Nagpur with 35. These notices were not issued lightly; they came after developers were allowed to present their side of the story in hearings held by MahaRERA.
Subsequently, developers found guilty of this omission were punished with penalties ranging from Rs. 10,000 to Rs. 50,000, depending on the severity of the violation. It’s noteworthy that MahaRERA has already managed to recover a substantial amount of Rs. 22 lakh from these developers.
This action from MahaRERA comes in the wake of a crucial rule change that took effect on August 1. Developers are now obligated to prominently display QR codes on their project advertisements, failing which they face penalties of up to Rs. 50,000. This mandate aims to ensure property buyers have easy access to essential project information, enhancing transparency in the real estate sector.
MahaRERA officials have urged citizens to exercise caution when investing in projects lacking QR codes and registration numbers, emphasizing the importance of complete and accurate information.