Caution, builders! If you haven’t registered with Maharashtra Real Estate Regulatory Authority (Maha RERA), you cannot possibly advertise your housing schemes.
From August 1, it is mandatory to have a RERA registration number on any housing advertisements. Maharashtra Real Estate Regulatory Authority (Maha RERA) had appointed Gautam Chatterjee as the full-time chairman of the authority earlier this year.
New builders have been provided with an extended deadline till July 31 to register with the authority. Maha RERA was established on May 1 but due to less number of registrations, the final registration date was extended. Gautam Chatterjee informed Mumbai Live about the changes in regulation which will take effect on August 1. He said that 10 percent will be deducted from the advertisement project if the builders publish housing projects without the RERA registration number.
Many false housing advertisements have been published and people have fallen prey to these facades. In order to tackle this serious issue, Maha RERA has come up with this registration numbering scheme. If the builders are not registered with the association, they cannot possibly advertise their project.
Related Article- Maha RERA gets a chairman
Any kind of advertisement format needs to have the registration number, be it a hoarding or a brochure. So all you builders out there, please register and abide by the law before setting up a roof over people’s heads. Investing in a house is a crucial moment in someone’s life. Being cheated during that phase could have a lasting negative effect.
Follow the law and be genuine, Mumbai.
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