HomeLatestReal Estate Tops ASCI’s Misleading Ad Violations in 2024

Real Estate Tops ASCI’s Misleading Ad Violations in 2024

The Advertising Standards Council of India (ASCI) has flagged a concerning rise in misleading advertisements during the first half of the 2024-25 fiscal year. Leading the pack of offenders is the real estate sector, which accounted for 34% of the violations. Offshore betting followed closely at 29%, with healthcare, personal care, and food and beverage contributing 8%, 7%, and 6% respectively. The surge in violations highlights the growing challenges of ethical advertising, particularly in a digital-first market where regulatory oversight often lags behind innovation.

From April to September 2024, ASCI reviewed a staggering 4,016 complaints and analysed 3,031 advertisements, primarily across digital platforms. The scrutiny revealed that 98% of the ads required revisions to align with established advertising standards. Of these, 2,087 were found non-compliant, with 1,027 forwarded to the Maharashtra Real Estate Regulatory Authority (MahaRERA). In its partnership with MahaRERA, ASCI aims to hold developers accountable and enforce transparency in the real estate sector. Notably, advertisers in over 53% of the cases refrained from disputing the council’s findings, indicating a growing inclination towards amicable resolutions.

Sustainability and ethical practices have taken centre stage as ASCI intensifies its crackdown on misleading real estate ads. MahaRERA’s imposition of fines worth INR 88.9 lakh on 628 developers underscores the push for compliance and accountability. Moreover, the increasing adoption of solar-powered projects and green building certifications in real estate amplifies the demand for transparent marketing aligned with sustainable development goals. Real estate developers are being encouraged to integrate sustainability into their advertising narratives to rebuild consumer trust.

This proactive approach has also streamlined complaint resolution, with response times dropping from 30 to 18 days. The ASCI’s efforts not only safeguard consumer interests but also foster an environment of accountability. By ensuring compliance with ethical advertising standards, the council is setting the stage for a more transparent and sustainable real estate ecosystem in India.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -spot_img

Most Popular

Recent Comments

SNN Estates Expands Housing Project in Bengaluru

SNN Estates Expands Housing Project in Bengaluru

North Bengaluru's residential market is set to receive a fresh supply of homes after SNN Estates announced the expansion of its ongoing housing development...
Pune Residential Development Gains Momentum In Hinjawadi

Pune Residential Development Gains Momentum In Hinjawadi

Pune's western growth corridor is set to witness another major residential expansion as Shapoorji Pallonji Real Estate has launched a 25-acre housing project in...
Goa Gateway Resort Expands Coastal Tourism Infrastructure

Goa Gateway Resort Expands Coastal Tourism Infrastructure

South Goa is set to add a new branded hospitality asset after Indian Hotels Company Limited (IHCL) signed an agreement to operate a Gateway...
Prestige Estates Expands Mumbai Commercial Portfolio

Prestige Estates Expands Mumbai Commercial Portfolio

Prestige Estates Projects has expanded its presence in Mumbai’s commercial real estate market by acquiring a 50 per cent stake in a proposed office...
Mumbai Housing Lease Reform Lowers Transaction Burden

Mumbai Housing Lease Reform Lowers Transaction Burden

The Maharashtra government has reduced the stamp duty applicable on lease agreements executed by cooperative housing societies in Mumbai and other parts of the...