MahaRERA signs MoU with ASCI to identify errant developers

February 16, 2024: The Maharashtra Real Estate Regulatory Authority (MahaRERA) will use artificial intelligence (AI) to track developers advertising projects without a registration number or a QR Code. According to a statement issued by the authority on February 15, it has brought on board the Advertising Standards Council of India (ASCI) which will help detect the errant developers using artificial intelligence (AI).

This is the first time a regulator in India is using AI to identify errant developers.   

The ASCI is self-regulatory organisation in the advertising sector that protects interests of consumers across media segments including newspapers, television channels, social media, websites. According to the agreement, ASCI will form a core group that will detect advertisements published without a MahaRERA registration number and QR code using AI. 

The official statement mentioned that developers are not permitted to advertise unless the project is registered with the MahaRERA. “Whenever we have observed any advertisements without a registration number, we have initiated ex officio penal action against such erring developers. Now, having a QR code on the advertisements is also mandatory, to enable home buyers to access the project’s detailed information at a single click,” said Ajoy Mehta, chairman, MahaRERA.

Mehta added, “We cannot ignore the new age media, where newer avenues of advertising are getting created. Thus, we are taking the help of ASCI, a self-regulatory organisation, and experts in the field to identify and prevent such misleading or incomplete advertisements across any medium. The latest move will definitely help in curbing such misleading and incorrect advertisements.”