The Maharashtra Real Estate Regulatory Authority (MahaRERA) has joined forces with the Advertising Standards Council of India (ASCI) to combat the issue of developers advertising projects without registration numbers and QR codes. In a recent statement, MahaRERA announced that they will be utilizing artificial intelligence (AI) to identify advertisements that are published without the necessary MahaRERA registration number and QR code.
ASCI, a self-regulatory organization dedicated to safeguarding consumer interests across various media platforms, has entered into a Memorandum of Understanding (MoU) with MahaRERA to protect the interests of homebuyers. The collaboration aims to establish a core group that will employ AI technology to track, monitor, and evaluate advertisements, subsequently bringing any violations to MahaRERA’s attention.
Ajoy Mehta, Chairman of MahaRERA, emphasized the importance of advertising compliance, stating, “Developers are not permitted to advertise unless their projects are registered with MahaRERA. We have taken strict action against erring developers who advertise without a registration number and have now made it mandatory for advertisements to include a QR code. By partnering with ASCI, we can effectively identify and prevent misleading advertisements in various mediums.”
MahaRERA has been proactive in tightening its grip on developers since 2023, taking proactive measures against advertisements without a registration number and QR code. Additionally, the authority has expanded its scope of monitoring to include new age media platforms.
Under the RERA Act, any project exceeding 500 square meters or consisting of eight or more flats must be registered with MahaRERA. Failure to do so prohibits developers from promoting, marketing, or selling any property associated with the unregistered project. Starting from August 1, MahaRERA has also mandated the inclusion of a QR code in all developer advertisements, allowing prospective buyers to access detailed project information with a single click.
FAQs about Maharashtra RERA’s Partnership with ASCI to Combat Unauthorized Advertisements:
1. What is the partnership between MahaRERA and ASCI all about?
– The Maharashtra Real Estate Regulatory Authority (MahaRERA) has collaborated with the Advertising Standards Council of India (ASCI) to address the issue of developers advertising projects without proper registration numbers and QR codes.
2. What is ASCI?
– ASCI is a self-regulatory organization focused on safeguarding consumer interests across different media platforms.
3. What will the partnership do to protect homebuyers?
– The partnership aims to establish a core group that will utilize artificial intelligence (AI) technology to track, monitor, and evaluate advertisements. This will help identify any violations and bring them to the attention of MahaRERA.
4. Why is advertising compliance important according to MahaRERA?
– Developers are not allowed to advertise their projects without registration with MahaRERA. MahaRERA has taken strict action against developers who advertise without a registration number. By partnering with ASCI, they aim to effectively identify and prevent misleading advertisements in various mediums.
5. What actions has MahaRERA taken so far?
– MahaRERA has been proactive since 2023 in tightening regulations against advertisements without a registration number and QR code. They have also expanded their monitoring scope to include new age media platforms.
6. What are the requirements under the RERA Act for project registration?
– Under the RERA Act, any project exceeding 500 square meters or consisting of eight or more flats must be registered with MahaRERA. Failure to do so prohibits developers from promoting, marketing, or selling any property associated with the unregistered project.
7. What is the new requirement for developer advertisements?
– Starting from August 1, MahaRERA has mandated the inclusion of a QR code in all developer advertisements. This allows prospective buyers to access detailed project information with a single click.
Related links:
– Maharashtra Real Estate Regulatory Authority
– Advertising Standards Council of India
The source of the article is from the blog toumai.es