UP-RERA warns builders against misleading project advertisements
UP-RERA warns builders against misleading project advertisements
Sanjay Bhoosreddy, chairman, Uttar Pradesh RERA, emphasized that all promotional materials for marketing and sales must adhere to the prescribed guidelines to avoid financial penalties.
NEW DELHI: The Uttar Pradesh real estate regulatory authority (UP-RERA) has issued a strong directive to real estate developers and agents, urging them to strictly comply with regulatory guidelines when issuing advertisements for their project.
Sanjay Bhoosreddy, chairman of the authority emphasized that all promotional materials for marketing and sales must adhere to the prescribed guidelines to to avoid financial penalties.
Bhoosreddy also cautioned homebuyers to refrain from investing in projects fail to include mandatory RERA registration numbers, website links, unique QR codes, or declaration accounts in their advertisements.
Failure to comply with these requirements could result in significant financial penalties for developers and agents.
UP-RERA has already imposed financial penalties amounting to Rs 266 crore against 91 developers and agents for violating these guidelines.
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