34 Builders From Pune Among 197 Fined By MahaRERA For Not Mentioning Registration Numbers In Advertisement
Mumbai, 21st July 2023: Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued notices to 197 developers across the state for publishing advertisements without mentioning their MahaRERA registration numbers. These developers are now liable to pay fines amounting to a total of INR 18,30,000, with INR 11,85,000 already collected.
Among the affected developers, 52 are from the Mumbai region, 34 from Pune, and 4 from Nagpur. This indicates the commencement of action against a total of 107 developers.
Initially, the control and hearings were limited to Mumbai headquarters. However, MahaRERA has now expanded its jurisdiction to include Pune and Nagpur regional offices, where controls and hearings have also begun.
The Mumbai region encompasses Mumbai city, Mumbai suburban, Konkan, and Thane districts. Pune includes Kolhapur, Solapur, Nashik, and Ahmednagar districts, while Nagpur covers the Marathwada and Vidarbha regions.
Even though the MahaRERA registration numbers were specified in some advertisements, some developers failed to mention them clearly or in the required font size. It has been noticed that many advertisements on Facebook, online platforms, and print media did not include the MahaRERA registration numbers as required by law.
As per the Real Estate (Regulation and Development) Act, it is crucial for projects exceeding 500 square meters or involving more than 8 apartments (including plots) to be registered with MahaRERA. Failure to do so can lead to the prohibition of advertisements and sales for such projects. MahaRERA has taken this matter seriously and issued notices to the concerned developers under their Suo Motu powers.
The implementation of the Real Estate Act aims to safeguard the interests of homebuyers and ensure a regulated real estate market. MahaRERA urges homebuyers and other stakeholders in the real estate sector to deal only with projects registered under MahaRERA to avoid any potential complications. This step is essential to ensure a secure and hassle-free transaction process for customers and promote orderly development in the sector.
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