8th Oct 2024
4 Min Read
As of October 1, 2024, the Gujarat Real Estate Regulatory Authority (GujRERA) has taken a significant step toward enhancing transparency in the real estate sector. With the introduction of Quick Response (QR) codes in all real estate advertisements, brochures, and prospect uses, potential buyers can now access detailed project information with a simple scan.
This new mandate is designed to make the process of gathering critical information more seamless and convenient for homebuyers, investors, and other interested parties. Gone are the days of sifting through endless paperwork or browsing through cumbersome websites. With just a smartphone, prospective buyers can instantly retrieve project details, such as the developer’s credentials, project specifications, and compliance status.
The decision, effective from October 1, was outlined in a circular issued by GujRERA. It complements the already established requirement of displaying the eight-digit RERA number and the GujRERA website link in all real estate promotions. The introduction of the QR code is expected to streamline access to information, providing users with quick and reliable project data, making it easier for them to make informed decisions.
According to a GujRERA official, “The QR code, included in the RERA registration certificate, ensures that potential stakeholders—whether they are homebuyers, investors, or developers—can simply scan the code and receive comprehensive project information in real-time.”
For legal documents like the Agreement for Sale (AFS), sale deeds, and other binding agreements, developers must continue to use the complete RERA registration number instead of the abbreviated eight-digit code. This measure is designed to prevent any confusion or potential misrepresentation during critical legal transactions.
In a parallel development, GujRERA has announced a temporary hold on changes related to the Quarterly Progress Report (QPR) submission norms for real estate projects. Earlier, the regulatory authority had planned to introduce daily penalties for delays in QPR submissions. However, this move has been deferred for the time being, providing developers with a bit more flexibility before new submission standards come into effect.
With this new mandate, GujRERA continues to uphold its commitment to promoting transparency, accountability, and consumer protection in Gujarat’s real estate industry. By incorporating innovative tools like QR codes into its regulations, the authority is bridging the gap between developers and buyers, ensuring that crucial project information is just a scan away.
07th Nov 2024
4 Min Read
06th Nov 2024
4 Min Read
05th Nov 2024
4 Min Read
News, Infographics, Blogs & More! Delivered to your inbox.