Maharashtra Real Estate Authority Imposes Fines on 370 Projects for QR Code Non-Compliance
In a recent development, a total of 370 projects in the state have been served show-cause notices and collectively fined Rs 33 lakh by the Maharashtra Real Estate Regulatory Authority (MahaRERA) for non-compliance with regulations requiring the display of MahaRERA registration numbers and QR codes. Mumbai takes the lead with 173 projects facing penalties, followed closely by Pune with 162 projects and Nagpur with 35. Following the issuance of show-cause notices, developers underwent hearings with MahaRERA, resulting in penalties ranging from Rs 10,000 to Rs 50,000. The regulatory authority has successfully recovered Rs 22 lakh from developers thus far. Since August 1 of this year, MahaRERA has mandated the inclusion of QR codes in project advertisements, imposing penalties on those failing to comply, with officials cautioning citizens against investing in projects lacking these essential codes or registration numbers to ensure transparency and comprehensive information for potential investors.
MahaRERA's stringent measures underscore its commitment to enforcing transparency in the real estate sector, with penalties serving as a deterrent for non-compliance. The authority's emphasis on the mandatory inclusion of QR codes in advertisements since August 1 has resulted in financial repercussions for developers who failed to adhere to these regulations. The recovered fines demonstrate MahaRERA's proactive approach in holding developers accountable for providing complete information to potential investors. Officials have urged citizens to exercise caution and avoid
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