Tag: misleading real estate ads

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UP-RERA warns buyers on ‘assured returns’ schemes, ads

Representative AI image NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has issued a public advisory to homebuyers, cautioning them against deceptive promotional schemes such as “assured returns” and “fixed rental income before possession.” The authority stated that these offers lack legal validity. UP-RERA noted that many developers continue to promote schemes like subvention plans, pre-EMI payments until possession, buyback guarantees, and lease assurance models to lure buyers. Some developers also use flashy offers like free cars, gold coins, and international trips. Sanjay Bhoosreddy, chairman of UP-RERA, stated, “Homebuyers should be wary of promotional schemes like assured returns…

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Government Urges States, RERAs to Act Against Misleading Builder Ads

NEW DELHI: In response to reports of builders and agents using official-sounding language to manipulate the appearance of their projects, the Central government has urged states and real estate regulators (RERAs) to intervene and prohibit misleading advertisements that could trick buyers. They have also been directed to submit reports focused on safeguarding buyer interests. Sources indicate that the issue was thoroughly discussed at a recent meeting of the Central Advisory Council (CAC) of RERA, led by Housing and Urban Affairs Minister Manohar Lal Khattar. Instances of misleading advertisements were presented to all members, including representatives from state governments and RERA…