MahaRERA, the Maharashtra Real Estate Regulatory Authority, has taken action against 197 developers in the state for publishing advertisements without displaying their MahaRERA registration numbers. As a consequence, these developers are now subject to fines totalling INR 18,30,000, of which INR 11,85,000 has already been collected.
A total of 107 developers are facing action, with 52 hailing from the Mumbai region, 34 from Pune, and 4 from other areas. This highlights the initiation of measures against these developers for their non-compliance.
At first, MahaRERA's control and hearings were confined to its headquarters in Mumbai. Nevertheless, the authority has extended its jurisdiction to encompass regional offices in Pune and Nagpur, where controls and hearings have commenced as well. The Mumbai region comprises Mumbai city, Mumbai suburban, Konkan, and Thane districts. Pune includes Kolhapur, Solapur, Nashik, and Ahmednagar districts, while Nagpur covers the Marathwada and Vidarbha regions.
Despite the requirement to include MahaRERA registration numbers in their advertisements, some developers did not comply either by failing to mention them clearly or using the mandated font size. Numerous advertisements on Facebook, online platforms, and print media were found to be in violation of the law by omitting the necessary MahaRERA registration numbers.
Under the Real Estate (Regulation and Development) Act, it is of utmost importance that projects surpassing 500 square meters or comprising more than 8 apartments (including plots) must be registered with MahaRERA. Non-compliance with this requirement can result in the prohibition of advertisements and sales for such projects. Taking this matter seriously, MahaRERA has acted proactively by issuing notices to the developers concerned using their Suo Motu powers.The primary objective of enforcing the Real Estate Act is to protect the rights of homebuyers and establish a well-regulated real estate market. MahaRERA strongly advises homebuyers and other stakeholders in the real estate industry to engage exclusively with projects that are registered under MahaRERA. This precautionary measure is crucial to prevent any possible complications and ensure a safe and smooth transaction process for customers, while also fostering organized development in the sector.