Noida: The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has taken an essential step to increase transparency and responsibility in the real estate sector. The authority has allotted specific QR codes to all registered real estate projects and directed the promoters to broadcast these codes in all their advertisements and promotional material.
Sanjay Bhusreddy, Chairman, UP RERA says, “We aim to empower consumers and bring more transparency in the real estate sector. With this new step, home buyers will be able to easily get accurate information about any project.”
UP RERA took this decision
UP RERA has allotted QR codes to 948 registered projects. Promoters will have to publish these QR codes in all their advertisements, brochures, and promotional material.
Apart from the QR code in the advertisements, it will also be mandatory to provide an RERA registration number and a link to the UP RERA website.
Consumers will be able to get all the important information about the project by scanning the QR code from their mobile phones.
What will be the benefit to buyers?
This new system will bring many benefits to consumers. They will be able to instantly get information about the land records of the project, approved layout and map, features of the project, progress of construction, and other important documents. This facility will help them make informed decisions.
Bhoosreddy informs, “We have seen that promoters promote their projects extensively, but consumers did not have any simple means to verify these claims. Now, through the QR code, anyone can check the veracity of the information given in the advertisements.”
Fraud will be banned
This move will not only benefit consumers but will also make promoters more accountable for their claims. It is expected that this initiative will increase trust in the real estate sector and reduce cases of fraud. Real estate experts believe that this move will help make the real estate market of Uttar Pradesh more transparent and reliable. Consumer rights activists have also welcomed this initiative, which will provide more protection to home buyers.
Action against non-compliance
UP RERA has directed all promoters to follow this new rule and said that action will be taken against those who do not comply. The authority will soon issue detailed guidelines in this regard. This initiative can make Uttar Pradesh a model for other states in the country, which are trying to bring reforms in the real estate sector. It will be interesting to see how this innovation works in practice and whether it improves the experience of consumers.