After a year-long recession unlike any in recent times, real estate, like other economic activities, has finally begun to pick up. Ads from developers are filling in the blanks promising the best of everything to attract potential buyers.
Noticing this spike in advertisements, the Karnataka Real Estate Regulatory Authority (K-RERA) is keeping an eye on them and is pulling projects that are flouting advertising guidelines.
Of the 39 entries so far in the list of violators, the maximum number is for ‘RERA number not as per guidelines’, while some others have been called for not mentioning the registration number.
Make details public
KS-RERA Secretary KS Latha Kumari told Hindu The authority will first issue a notice for such a violation. “But now we have started giving these details to make the public aware. Some violations are blunt. According to other guidelines, do not follow the rules on font size, where to display, etc. But he did not do it intentionally so it is not visible to the readers.
When asked about the investigation process, he said that instead of K-RERA, there is a media team that screens advertisements published in all newspapers. “We plan to expand the team now,” she said.
The guilty have been issued notice and sought clarification.
If it is found unsatisfactory, they are liable to punishment. “It is supposed to help buyers make an informed decision before investing in projects,” Ms Kumari said.
Acts and Guidelines
According to the RERA Act, advertising of a project without registration is not permitted. It also mandates developers to display the authority’s website and registration number.
In addition, K-RERA also brought guidelines in 2019, specifying what the Act states, other than that, any disclaimer will not be mentioned in advertisements, and that the length of the ‘RERA registered’ information and The width shall not be less than any. 10% of ad length and width.
Home buyers have welcomed the move. “We welcome the first initiative of K-RERA which has started analyzing advertisements for the projects and is issuing notices to those who are violating advertisement norms as per RERA Act. Such an action will help protect buyers from misleading advertisements that lure them to invest, ”said MS Shankar, General Secretary, Forum for People’s Collective Efforts.