Real Estate projects to get QR code to empower homebuyers, says MahaRERA

In Maharashtra, around 40,000 real estate projects have been registered since May 2017 when the MahaRERA came into inception.

The Maharashtra Real Estate Regulatory Authority (MahaRERA) on March 27 announced that all new real estate projects in the state will be assigned a QR code along with registration certificate. This aims to ease due diligence for homebuyers when making a decision to purchase a home.

In Maharashtra, around 40,000 real estate projects have been registered since May 2017, which is when MahaRERA came into inception. Out of this, around 5,700 projects have lapsed, according to the data.

MahaRERA in a statement said, "All the basic information related to the project will be available to the homebuyer with one click. Recently a new registration certificate along with QR code has been issued by MahaRERA to a developer in Pune. The registration certificate reiterates the matters to be taken care of by the developer as per the provisions of the RERA Act."

According to MahaRERA, homebuyers can scan the QR code using their smartphones that will enable them get information about a particular real estate project including the name of the project, name of the developer, when the project is expected to be completed, when the project was registered, whether there are any complaints against the project, various approvals of the project, and status of the project after the project has started.

"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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Mehul R Thakkar

Special Correspondent|Moneycontrol

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Welcoming the move, Hitesh Thakkar, vice president of National Real Estate Development Council (NAREDCO), an apex body of real estate developers said, "In the coming months, all registered projects will also get a QR code, and for now the newly registered projects have already got a QR code. This is a welcome step by MahaRERA that will give more power to homebuyers."