Beginning August 1, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has made it mandatory for developers to display QR codes in all advertisements and promotion activity or pay a penalty of as much as Rs 50,000.
All new real estate projects in the state have been assigned a QR code with the registration certificate for publishing to provide homebuyers with project details.
In Maharashtra, over 42,000 real estate projects have been registered since May 2017, when MahaRERA was set up. Of these, about 5,700 projects have lapsed.
Reminder order
On July 25, MahaRERA issued a reminder order asking all developers to prominently display the QR code—the square black-and-white barcodes that are scannable—on each and every real estate project promotion/advertisement published in all media.
"Failure to comply with the order "will be construed as a violation of the directions and a penalty ranging from at least Rs 10,000 to a maximum of Rs 50,000 will be imposed," the regulator said in its order dated July 25.
According to MahaRERA, if the promoter fails/neglects to rectify and remedy the violation/contravention within 10 days after it is pointed out, it shall be construed as a continuous violation of the directions issued and appropriate action as deemed fit shall be taken against such promoters.
Also read: Real Estate projects to get QR code to empower homebuyers, says MahaRERA
What is the use of the QR code?
Homebuyers can scan the code using their smartphones to get information about a real estate project including details such as the name of the developer, date of registration, expected date of completion, complaints against the project, approvals received, and status after construction starts followed by approved plans, litigation and other details crucial for the project.
"Homebuyers will be able to get information on whether any changes have been made in the approved plan, whether the registration of the project has been renewed, and all such details will be easily available with one click due to this QR code," according to MahaRERA.
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