MahaRERA – It is now a requirement for builders to incorporate a QR code for each of their projects in their promotional materials.
This initiative has been welcomed by real estate developers as it enhances transparency in the industry.
Sources at the RERA office in Nagpur have reported that there have been no complaints thus far regarding this new regulation. However, if a builder fails to include the QR code in documents such as brochures, advertisements, or any other promotional material, buyers have the right to lodge a complaint.
The implementation of this regulation commenced on August 1, and it mandates builders to generate a QR code for each project, which must be printed in every promotional document associated with that project.
This QR code serves as a convenient way for buyers to access all pertinent project documents by simply scanning them. The Confederation of Real Estate Developers of India’s president has stated that builders have found compliance with this regulation relatively straightforward.
Scanning the QR code provides information about project sanction, dimensions, land titles, encumbrances, completion dates, and the number of bookings to date. This encompasses all the information submitted to RERA during project registration.
However, it’s important to note that personal information about the builder’s financial standing and other buyers’ details are not included.
Failure to include the QR code in promotional materials may result in fines of up to 5% of the project’s cost, with the severity of the penalty dependent on the specific circumstances of the lapse, as indicated by the deputy secretary & head of the RERA office in Nagpur.
This regulation covers all forms of promotional materials for real estate projects to make project-related facts more easily accessible to potential buyers. Previously, buyers had to log in to the RERA registration number on the MahaRERA website to access these details, but the QR code simplifies this process.
Builders appreciate this development as it facilitates the sharing of pertinent project information with buyers. The move is also supported by the CREDAI.
