With the path breaking development in the real estate industry, here is a check list of how your marketing campaigns need to be moulded to ensure they comply with the new regulation.
Marketing/Advertising of a housing project is strictly forbidden before registration.
The ground-breaking legislation prohibits real estate developers from marketing or advertising any of their upcoming housing projects without registering them with the concerned RERA authority. Doing so may result in unsolicited penalties levied by the regional regulators.
A streamlined documentation procedure to be completed before marketing a project.
The real estate developers need to furnish important documents before the regulatory authorities to be able to begin with marketing activities for the concerned project. A few examples of such documents are Performa of allotment letter, Approval and commencement certificates, etc.
Advertisements must redirect buyers to the website of the RERA authorities.
All real estate developers are expected to produce advertisements concerning a housing project in compliance to the measures stated by the regulators under the Real Estate Regulation and Development Act and must redirect its audiences to the concerned RERA regulator’s webpage displaying all the important details about the advertised project.
The Developer’s website is required to be RERA compliant.
All real estate developers are expected to reconfigure their existing websites to comply with the Real Estate Regulation and Development Act by adding crucial project specific information such as sanctioned floor plans and layouts, detailed plan of the amenities offered in the projects, etc.
Advertisements to clearly display the project’s registration number.
An advertisement meant to promote a specific project must display the concerned project’s registration number obtained by the regional RERA authorities in a clear and an unambiguous manner. Non-adherence to this guideline may result in an unsolicited penalty by the regional regulators.
At Nikulsan, It is our constant endeavour to give you the edge in attaining maximum profitability through your marketing efforts. We take great pride in bringing together a team of seasoned experts who specialize in real estate marketing and are very well versed with all the recent developments in the budding real estate industry across the nation.