Collaboration Between MahaRERA and ASCI
The Maharashtra Real Estate Regulatory Authority (MahaRERA) and the Advertising Standards Council of India (ASCI) have announced a partnership to identify developers advertising projects without QR codes and registration numbers. This collaboration, announced on February 15, aims to enhance transparency and protect the interests of homebuyers.
Use of Artificial Intelligence
Artificial intelligence (AI) will be deployed to identify advertisements that do not include a QR code or MahaRERA registration number. According to the RERA Act, any project larger than 500 square meters or eight apartments must be registered with MahaRERA.
Role of ASCI and MahaRERA
ASCI is a voluntary self-regulatory organization for the advertising industry, focusing on defending consumer interests across various media platforms including websites, social media, television networks, and newspapers.
Memorandum of Understanding
A Memorandum of Understanding (MoU) has been signed between MahaRERA and ASCI. The signatories are Manisha Kapoor, CEO of ASCI, and Vssant Vani, the administrative officer of MahaRERA. This MoU is designed to safeguard homebuyers' interests.
Enforcement and Monitoring
Advertisements without a MahaRERA registration number and QR code will be tracked using AI. A core group will be formed to monitor and evaluate these ads and bring them to MahaRERA's attention. Developers are mandated to include a QR code in their advertisements to enable prospective homeowners to access comprehensive project information.
Statements by Officials
MahaRERA Chairman Ajoy Mehta emphasized the importance of the collaboration, noting the emergence of new forms of advertising in modern media. He highlighted the necessity of ASCI's aid in identifying and stopping deceptive advertisements across all media platforms. The latest action aims to reduce false and misleading advertisements.
MahaRERA’s Regulatory Measures
Since 2023, MahaRERA has been taking measures against advertisements that do not include a QR code or registration number. The authority has extended its reach to include new-age media, in addition to traditional media outlets.