MahaRERA to impose fine on builders who fail to display QR codes in ads, promotions from Aug 1
The MahaRERA also said appropriate action will be taken against developers who fail to display QR codes even after 10 days from being fined.
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MahaRERA chief Ajoy Mehta. (File photo) The Maharashtra Real Estate Regulatory Authority (MahaRERA) will impose a minimum fine of Rs 10, 000 which can extend up to Rs 50,000 for each case if a developer fails to display QR codes at the time of advertisement and promotion of its project.
The imposition of the fine will come into force from August 1, the MahaRERA recently said in a notification to all developers.
The MahaRERA also said appropriate action will be taken against developers who fail to display QR codes even after 10 days from being fined.
The latest notification comes two months after the MahaRERA had in May asked the developers to prominently display QR codes.
Earlier, The Indian Express had reported that the MahaRERA will provide Quick Response (QR) codes to all newly-registered projects. The idea is to facilitate homebuyers with hassle-free information about the projects and the developers.
MahaRERA had for the first time issued a QR code registration certificate to a Pune-based project called ‘Gera’s Planet Of Joy Project II’. When scanned, the code directed homebuyers to the MahaRERA portal from where they were directly taken to the developer’s page which had all details such as number of flats, number of booked apartments, percentage of booked apartments, proposed date of completion, registration date, name of the self regulatory authority (real estate apex body), its membership number, extension granted if any, warrant issued and other details.
In Maharashtra, over 42,070 projects are registered under MahaRERA of which, only 29 per cent of the projects have been completed so far, as per details available with MahaRERA on Thursday.
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