Uttar Pradesh real estate regulator UP RERA said on Thursday it will assign a unique QR code to each new project at the time of registration, and promoters need to publish them in their brochures and advertisements.
The step is aimed at promoting transparency in the sector, the Uttar Pradesh Real Estate Regulatory Authority (RERA) said, noting that home buyers at times don't have access to verify amenities and other details of projects and have to solely rely on advertisements done by promoters.
QR code of project information
"Anybody desirous of making an investment in a project can simply scan this code with their mobile phone, readily get all the details of the project from the portal of UP RERA, and verify the information about the projects provided by the promoter in the advertisements," it said in a statement.
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QR code Mandatory
UPRERA has also made it mandatory for promoters to publish project QR codes in all documents shared with the allottees, such as booking forms, allotment letters, and BBAs (builder-buyer agreements).
Through the QR code, an allottee will be able to get all details related to the project, such as land documents, approved layouts and maps, project specifications and amenities, start and completion dates, bank accounts, promoters, co-promoters, registered agents, quarterly progress report (QPR), occupancy certificate or completion certificate, other requisites, and NOCs.
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Verification of ads
RERA said it had observed that promoters advertise their projects extensively, but home buyers have no easily accessible medium of verifying the features, amenities, and other details mentioned in such advertisements.
"But henceforward, the same advertisement will become the source of verification of the information relating to the project...," it added.
UP RERA chairman Sanjay Bhoosreddy, said: "Promotion and advertisement of the project is the strongest instrument to promote the sale of real estate properties, but RERA has to ensure that no innocent buyer is deceived through the advertisements."
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