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UP-RERA urges builders to comply with regulatory guidelines while issuing advertisements for projects
The authority's chairman Sanjay Bhoosreddy highlighted that all the promotional materials for marketing and sales should compulsorily adhere to the prescribed guidelines in order to avoid the implication of financial penalties.
The authority's chairman Sanjay Bhoosreddy has also asked the home buyers to refrain from investing in projects that failed to include RERA registration numbers, website links, unique QR codes, or declaration accounts in their ads, further added the report. (Image Source: Unsplash)
The Uttar Pradesh Real Estate Authority (UP-RERA) has issued a directive to real estate developers and agents, urging that they comply with regulatory guidelines while issuing advertisements for their projects, stated a media report.
The authority's chairman Sanjay Bhoosreddy highlighted that all the promotional materials for marketing and sales should compulsorily adhere to the prescribed guidelines in order to avoid the implication of financial penalties.
He has also asked the home buyers to refrain from investing in projects that failed to include RERA registration numbers, website links, unique QR codes, or declaration accounts in their ads, further added the report.
To note, UP-RERA has already imposed financial penalties which amounts to Rs 266 crore against 91 developers and agents who failed to comply with the guidelines.
Bhoosreddy stressed that the measures apply across OOH, print, television, digital platforms, social media etc. And, he further added that repeat offenders who face financial penalities amounting to up to five percent of the project's total cost.
Read More: Homebuyers’ association calls for real estate guidelines under Consumer Protection Act: Report
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