Advertisement of Real Estate Project
The Promoter / Developer advertise their projects through various modes to attract potential purchasers. However, the RERA, 2016 has stipulated certain conditions for the same. As per provisions of RERA, 2016, a Promoter / Developer is eligible to advertise his project in any way or sell units within the project only if the real estate project is registered with MahaRERA. They can advertise their real estate projects in any form i.e., through magazines, newspapers, social media, websites, sales office, brochures, catalogues, journals, prospectus, etc. No Promoter / Developer can advertise their real estate projects without getting it registered. Further, as per provisions of RERA, its rules and circulars it is mandatory for the Promoter/Developer to mention RERA website link and RERA Registration number of the project on the advertisement which shall be clearly visible. Recently, MahaRERA vide its Order Nos.46, 46A and 46B dated 29.05.2023, 25.07.2023 and 21.08.2023 respectively mandated all the Promoters/Developers to display QR code of the real estate project on the advertisements of such project and such QR codes shall be clear, readable and detectable, displayed beside the project registration number and the same shall be effective from 01.09.2023. In case the Promoter/Developer fails to comply with the abovementioned mandates and violates the orders of MahaRERA then the Promoter / Developer shall attract the penalty of minimum of Rs.10,000 and maximum upto Rs.50,000/-.