Mumbai, 21st July 2023: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken strict action against 197 developers across the state for publishing advertisements without mentioning their MahaRERA registration numbers. These developers now face fines totaling INR 18,30,000, with INR 11,85,000 already collected.
Out of the affected developers, 52 are from the Mumbai region, 34 from Pune, and 4 from Nagpur, signaling the initiation of actions against a total of 107 developers.
Initially, the control and hearings were limited to the Mumbai headquarters. However, MahaRERA has now expanded its jurisdiction to include Pune and Nagpur regional offices, where controls and hearings are currently underway.
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.
While some advertisements did specify the MahaRERA registration numbers, many developers failed to do so clearly or in the required font size. Numerous advertisements on Facebook, online platforms, and print media were found to be non-compliant with the law, lacking the mandatory MahaRERA registration numbers.
As per the Real Estate (Regulation and Development) Act, projects exceeding 500 square meters or involving more than 8 apartments (including plots) must be registered with MahaRERA. Failure to do so can lead to the prohibition of advertisements and sales for such projects. MahaRERA has exercised its Suo Motu powers to issue notices to the concerned developers, emphasizing the significance of compliance with the law.
The implementation of the Real Estate Act is aimed at safeguarding the interests of homebuyers and fostering a regulated real estate market. MahaRERA urges homebuyers and other stakeholders in the real estate sector to deal exclusively with projects registered under MahaRERA to avoid potential complications. This measure ensures a secure and hassle-free transaction process for customers and promotes orderly development in the sector.
