Introduction

In a significant move towards promoting transparency and empowering homebuyers, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has recently announced the mandatory inclusion of Quick Response (QR) codes in all promotional materials and advertisements of Maharera-registered projects. This new regulation, effective from August 1, 2023, aims to provide easy access to crucial project-related information to potential buyers. In this blog post, we will delve into the purpose of QR codes, where they should be published, the penalties for non-compliance, and the importance of adhering to this mandate.

What is the QR Code for?

The QR Code has been introduced by MahaRERA with a primary objective – to offer homebuyers effortless access to essential project-related information. By scanning the QR code, potential buyers can quickly obtain updates on the project’s quarterly status, ensuring greater transparency and convenience for all stakeholders involved. With this innovative step, MahaRERA aims to empower buyers with the necessary knowledge to make informed decisions regarding their property investments.

Where should the QR Code be published?

To ensure widespread accessibility, the QR Code must be prominently displayed alongside the MahaRERA registration number and the project website address. This mandate applies to various mediums of promotion and advertisement, including but not limited to:

Advertisements in newspapers, magazines, and journals
Printed flyers, brochures, catalogues, and leaflets
Prospectus or standees at project sites and sales offices
Websites and web pages of projects
Social media advertisements
Any other advertising medium where QR codes can be published
The intention behind this requirement is to make the QR Code easily legible, readable, and detectable by a software application, thereby ensuring that potential buyers can access vital project information with minimal effort.

Non-Compliance Penalties

MahaRERA is taking the implementation of QR codes seriously, and non-compliance with this functionality will be considered a violation of the regulatory authority’s directives. Promoters who fail to include the QR Code in their project promotions and advertisements will face penalties ranging from a minimum of Rs 10,000 to a maximum of Rs 50,000 per violation, as stipulated under Section 63 of the RERA Act. These penalties are designed to incentivize real estate developers to comply with the new regulation and prioritize transparency in their dealings.

Rectifying Violations

In cases where penalties are imposed, promoters must act promptly to rectify and remedy the violation within 10 days. Failure to do so will result in the violation being considered continuous, leading to further action by the regulatory authority, as per the relevant provisions of the Act. This emphasizes the importance of promptly adhering to the QR Code mandate to avoid unnecessary complications and penalties.

Conclusion

The introduction of QR codes in MahaRERA-registered projects marks a significant milestone in the real estate sector, as it emphasizes transparency and empowers homebuyers with easy access to vital project-related information. By integrating QR codes into promotional materials and advertisements, MahaRERA aims to create a more informed and secure environment for property buyers and developers alike. It is essential for real estate developers to prepare for compliance with this mandate, starting from August 1, 2023, to avoid penalties and to contribute to a more transparent and customer-centric real estate industry.

For any inquiries or further information, interested parties can visit the official MahaRERA website.

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