The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has taken a decisive step to enhance transparency in the real estate sector by implementing strict regulations on advertisements. This move comes as a relief to prospective homebuyers who have often been misled by exaggerated claims and vague promotional content. With the new rules, TNRERA is setting a precedent for clear and truthful advertising practices in the industry.
New Advertising Guidelines
Effective from July 1, TNRERA’s new guidelines require all real estate advertisements across various platforms to prominently display specific details. These include the project’s RERA registration number, a scannable QR code, the approved location, and complete promoter contact details. The initiative aims to empower buyers with the right information, enabling them to verify the authenticity and legal status of real estate projects before making purchase decisions.
| Quick Facts | Details |
|---|---|
| Effective Date | July 1 |
| Mandatory Details | RERA number, QR code, project location, promoter contact |
| Prohibited Practices | Vague disclaimers, inflated claims |
| Exemption Clause | Projects completed before May 1, 2017 |
Prohibited Practices
The guidelines explicitly prohibit the use of vague disclaimers like ‘terms and conditions apply’ and inflated phrases such as ‘100+ amenities’ unless they are backed by verifiable offerings. According to Shiv Das Meena, chairperson of TNRERA, this directive aims to curb misleading practices and ensure that advertisements present accurate and truthful information.
“The mandate also extends to the finer details. Every ad must mention the promoter’s name, office address, and contact information,” said S Ramprabhu, chairman of the DTCP committee at the Builders Association of India.
Responsibilities of Media Outlets
Media platforms are not exempt from these regulations. TNRERA has warned that any media outlet publishing non-compliant advertisements could face severe consequences, including escalation to the Ministry of Information and Broadcasting. Such violations will attract penalties under sections 61 and 63 of the Real Estate (Regulation and Development) Act, 2016.
Impact on Real Estate and Media
The new regulations are expected to bring significant changes to the way real estate is marketed in Tamil Nadu. Builders and developers will now need to ensure that their advertisements are fully compliant with TNRERA guidelines, which could lead to more honest and straightforward promotional content. Media outlets, too, will play a crucial role in maintaining advertising standards by refusing to publish non-compliant ads.
Q1: What prompted TNRERA to implement these new advertising rules?
A: The new rules were introduced to address the issue of misleading and exaggerated claims in real estate advertisements, ensuring buyers receive clear and truthful information.
Q2: What details must be included in real estate advertisements under the new guidelines?
A: Advertisements must include the RERA registration number, a scannable QR code, the approved project location, and complete promoter contact details.
Q3: Are there any penalties for non-compliance with these guidelines?
A: Yes, violations can attract penalties under sections 61 and 63 of the Real Estate (Regulation and Development) Act, 2016, and could lead to escalation to regulatory bodies.
Q4: How does TNRERA ensure that media outlets comply with these rules?
A: TNRERA holds media platforms accountable by warning them of potential consequences if they publish non-compliant advertisements.
Q5: How do these regulations affect projects exempt from RERA registration?
A: For projects completed before May 1, 2017, advertisements must clearly state the exemption and the reason for it.
In conclusion, TNRERA’s proactive approach to regulating real estate advertisements marks a significant step towards greater transparency and accountability in the industry. By requiring accurate and verifiable information, these guidelines are expected to protect buyers from misleading claims and enhance trust in the real estate market.