Section 37 of the RERA Act and rules made thereunder envisages that the authority has the right and allowed with the power to generate directions in the proper time to the real estate agents, allottees and promoters as it is considered as necessary for them.
Karnataka RERA has recently given directives for displaying/advertising of the real estate projects on Print Media, outdoor hoardings, FM Radio or via SMS on electronic media, the listed factors below should be mentioned:
The Registration Number issued by the Authority should be mentioned on the corner of the advertisement on the outdoor hoardings or in any other visual medium during the advertisement of projects on Print Media. The font used for the said advertisement should be more than half of the lettering and numbering size used for it. There should not be any disclaimer clause mentioning the changing “information is subject to change”. The “RERA Registered” information should not be less than 10% of the length and breadth of the advertisement generated in print media whichever will be higher in the number of the measurement. The Registration Number issued by the Authority should be prominent and frequently mentioned during the advertisement of the project done on FM Radio or through electronic media and SMS.
If the Completion certificate was applied before 11/07/2017 has been obtained the same information has to be mentioned in the advertisement. The registration number of Karnataka RERA should be mentioned in the display board installed on the site.
‘These variant of directives by RERA authority will certainly boost the confidence of consumers at large and brings more transparency in information so provided. These advertisements will show the similarity of the facts of information at all places of advertising media. Advertising and PR agencies need to adhere to the same in the strict formats. The post era of RERA creates a level playing confidence amongst property seekers and other stakeholders of the real estate industry. These directives will soon be followed by other RERA authorities in their respective state/UTs. Both promoters and real estate agents need to follow them in a strict version with a true spirit of law. Thus, creating a more compliance culture amongst real estate industry players.” Said, Mr. Mahesh Somani: Vice President – NAR India (National Association of Realtors, India).