Maha-RERA issues notice to 34 developers for advertising sans registration number

According to Maha-RERA authorities, the real estate developers were found not printing the RERA number on their project brochures or printing it in a manner so as to be illegible

The Maharashtra Real Estate Regulatory Authority (Maha-RERA) has issued notices to 34 builders in Pune for releasing advertisements without the mandatory RERA number. The real estate regulatory authority had issued notices to 117 developers, 90 of whom it heard, imposing a collective fine of ₹18.30 lakh and recovering ₹11.85 lakh in dues.

According to Maha-RERA authorities, the real estate developers were found not printing the RERA number on their project brochures or printing it in a manner so as to be illegible. (REPRESENTATIVE PHOTO)

Of the 90 builders, 52 are located in Mumbai, 34 in Pune, and four in Nagpur.

According to Maha-RERA authorities, the real estate developers were found not printing the RERA number on their project brochures or printing it in a manner so as to be illegible. The real estate developers were also found not printing the number in their social media advertisements. Under the RERA Act, it is mandatory for promoters to register their real estate projects in order to sell, advertise, market, book or purchase.

The promoters are expected to apply for registration before proceeding with the work. The Maha-RERA is responsible for registering real estate projects. It is buyer-friendly because only projects registered under the Maha-RERA are permitted to be advertised. Delays in completion of projects are handled stringently; builders are required to compensate buyers by way of refunding their money along with interest at the stipulated rate for every month of delay till such time they hand over the property to the allottee.

Prominent real estate developer, Jehangir Dorabjee, said, “The RERA Act has transformed the sector and given both real estate developers and buyers equal rights for their professional growth and development. The act is aimed at regulating the sector and bringing greater transparency in the field. Perhaps the greatest benefit that has accrued to customers is the reinforced trust in the realty field, which has led to reinvigoration of the sector and boosted greater confidence among property buyers.”