Harshal Hanmante Builders & Developers Pvt. Ltd., a renowned construction company, recently made headlines for all the wrong reasons. The Maharashtra Real Estate Regulatory Authority (MahaRERA) imposed a penalty on the company for publishing an advertisement in the Lokmat newspaper that was misleading and contrary to the RERA norms.
The Lokmat Advertisement and the Fraudulent MahaRERA Registration Number
The advertisement, which appeared on 14th August 2022 in the Pune edition of Lokmat, invited potential home buyers to invest in a residential project called "Honey Bliss" located in Hinjewadi, Pune. The ad mentioned that the project was registered with MahaRERA and provided the registration number, but it failed to mention the disclaimer "RERA Registered Project with MahaRERA" in a font size of not less than 12 points.
The Claim of MahaRERA Registration
According to the MahaRERA rules, every advertisement of a real estate project that is ongoing or completed and awaiting a completion certificate, must carry a disclaimer "RERA Registered Project with MahaRERA" in a font size of not less than 12 points. This disclaimer is mandatory as it indicates that the project is registered under RERA and is being developed in compliance with the rules and regulations set by the authority.
In the absence of this disclaimer, the advertisement is misleading and may give a false impression to potential home buyers. It is because the disclaimer assures that the project is registered under RERA, and buyers can have faith in the project's legality and legitimacy.
MahaRERA acted on a complaint filed by one of the home buyers who came across the advertisement and noticed the absence of the mandatory disclaimer. The authority conducted an inquiry and found that the ad was indeed in violation of the RERA rules. MahaRERA issued a notice to Harshal Hanmante Builders & Developers Pvt. Ltd., directing them to pay a penalty of Rs. 2 lakhs and comply with the advertisement guidelines set by RERA.
How MahaRERA Protects the Interests of Buyers
This is not the first time that MahaRERA has taken action against developers for non-compliance with advertisement guidelines. Earlier, MahaRERA had issued similar notices to other developers who had violated the RERA advertisement guidelines. This indicates that MahaRERA is very serious about enforcing the advertisement guidelines to protect the interests of home buyers and maintain transparency in the real estate sector.
In response to the notice, Harshal Hanmante Builders & Developers Pvt. Ltd. acknowledged the mistake and agreed to pay the penalty imposed by MahaRERA. The company also assured to comply with the advertisement guidelines set by the authority and ensure that such violations do not occur in the future.
Consequences of Violating the Advertising Guidelines
This penalty serves as a reminder to all real estate developers and builders that they need to adhere to the RERA rules and regulations and ensure compliance with the advertisement guidelines. They must provide accurate and complete information to potential home buyers and avoid misleading advertisements that may give false impressions about their projects. Non-compliance with the rules can lead to severe penalties and harm the reputation of the company.
In conclusion, MahaRERA's penalty on Harshal Hanmante Builders & Developers Pvt. Ltd. for non-compliance with advertisement guidelines is a step towards ensuring transparency in the real estate sector and protecting the interests of home buyers. It also serves as a warning to other developers to adhere to the advertisement guidelines set by RERA to avoid penalties and legal action. It is essential to create awareness among developers and home buyers about the importance of compliance with RERA rules and regulations to maintain the credibility of the real estate sector.
Note: The information provided in this article about Maharashtra Real Estate Regulatory Authority (MahaRERA) is for informational purposes only. It is not intended as legal or professional advice and readers should consult qualified professionals for advice specific to their circumstances.
By subscribing to AryaBot, you can receive updates on all RERA-approved projects in your desired area directly on your WhatsApp. AryaBot offers a free list of new RERA-approved real estate developments, so you can stay up-to-date on the latest developments in the area.
Know more about AryaBot at ReunionHQ
Explore the list of new RERA approved projects in Maharashtra.