Mumbai: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has served notices to 197 housing projects from Mumbai, Pune and Nagpur for marketing them without disclosing RERA registration number.
In any marketing activity or advertisement, it is mandatory for the developer of any project of over 500 sq. mt. or more than 8 flats to register and share MahaRERA registration number.
Prominent names found violating the regulator's rule
Some of the prominent names found violating the regulator's rule are Phoenix Group, Kohinoor Group, Royal Palm Estate, Sanghvi Group, etc. One of the violators also includes a popular real estate consultancy – Anarock, who claim that their key objective is to have “transparency” in the communication amongst all real estate stakeholders.
In the advertisements, most of the developers have MahaRERA number for their projects, but it was either not printed in the advertisement or was printed in such fine print that it was illegible. It has also been observed that MahaRERA number is not printed in many advertisements posted on the internet including social media.
As per the data available, there have been 82 cases of violations from Mumbai itself, another 86 from Pune region and 29 developers from Nagpur.
“Of the developers of 197 projects, hearings have been held with 90 of them and a penalty of Rs 18.30 lakh has been imposed and Rs 11.85 lakh has been recovered, so far. The fine ranges in the slabs of Rs 10,000, Rs 25,000, Rs 50,000 and Rs 1.5 lakh,” said a MahaRERA official.
“The action was initiated suo moto by us. We appeal to the home buyers to be cautious while investing their hard earned money only in RERA registered projects,” added the official.
