Penalties under RERA

PENALTIES UNDER REAL ESTATE REGULATION AND DEVELOPMENT  AUTHORITY ACT, 2016

On Promoter:

  • If any promoter fails to obtain prior registration with the Authority, he shall be liable to a penalty which may extend 10% of the estimated cost of the project as determined by the Authority and on not complying with any such the orders, decisions or directions issued by the Authority or on continuing with the default, he shall be punishable with imprisonment for a term which may extend up to three years or with fine which may extend up to a further ten per cent. of the estimated cost of the real estate project, or with both.
  • If any promoter provides false information, or contravenes the provisions of section 4, he shall be liable to penalty which may extend 5% of the estimated cost of project as determined by the Authority.

 

  • If any promoter contravenes any other provisions of this Act or the rules or regulations made thereunder, he shall be liable to a penalty which may extend up to five per cent. of the estimated cost of the real estate project as determined by the Authority.
  • If any promoter fails to comply with, or contravenes any of the orders or directions of the Authority, he shall be liable to a penalty for every day during which such default continues, which may cumulatively extend up to 5% of cost of the project
  • If any promoter, who fails to comply with, or contravenes any of the orders, decisions or directions of the Appellate Tribunal, he shall be punishable with imprisonment for a term which may extend upto three years or with fine for every day during which such default continues, which may cumulatively extend up to ten per cent. of the estimated cost of the project, or with both.

 

On Real estate Agents:

  • If any real estate agent fails to comply with or contravenes the provisions of section 9 or section 10, he shall be liable to pay a penalty of Rs. 10,000 for every day during which such default continues, which may cumulatively extend up to 5% of the cost of plot, apartment or buildings, as the case may be, of the real estate project, for which the sale or purchase has been facilitated as determined by the Authority. If any real estate agent fails to comply with, or contravenes any of the orders or directions of the Authority, he shall be liable to a penalty for every day during which such default continues, which may cumulatively extend up to 5% of estimated cost of plot, apartment or building, as the case may be, of the real estate project, for which the sale or purchase has been facilitated and as determined by the Authority.If any real estate agent, who fails to comply with, or contravenes any of the orders, decision or directions of the Appellate Tribunal, he shall be punishable with imprisonment for a term which may extend upto one year or with fine for every day during which such default continues, which may cumulatively extend up to ten per cent. of the estimated cost estimated cost of plot, apartment or building, as the case may be, of the real estate project, for which the sale or purchase has been facilitated, or with both.

 

On Allottee:

  • If any allottee, fails to comply with, or contravenes any of the orders, decisions or directions of the Authority, he shall be liable to pay penalty for every day during which such default continues, which may cumulatively extend up to 5% of the plot, apartment or building cost, as the case may be, as determined by the Authority. If any allottee, who fails to comply with, or contravenes any of the orders, decisions or directions of the Appellate Tribunal, he shall be punishable with imprisonment for a term which may extend up to one year or with fine for every day during which such default continues, which may cumulatively extend up to ten per cent of the plot, apartment or building cost, as the case may be, or with both.

 

On Companies

  • Every person who, at the time, the offence was committed in charge of, or was responsible for the company for the conduct of, the business of the company, shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly, however, he shall not be liable if he proves that the offence was committed without his knowledge or that he had exercised all due diligence to prevent the commission of such offence.
  • If is proved that the offence has been committed with the consent or connivance of, or is attributable to, any neglect on the part of any director, manager, secretary or other officer of the company, he shall also be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accordingly.

 

 

Leave a Reply

LexCliq

Total Health Keto Gummies UK Reviews 2022 – Does It Really Work For Weight Loss?

The most expected weight decrease thing is officially open. Total Health Keto Gummies UK fat-consuming ketone, has been changed to offer a trademark fat-consuming plan. The basic substrate that begins the physiological state of ketosis is beta-hydroxybutyrate. In case you take it, BHB can begin dealing with in your body, achieving energy and basically accelerating […]

Read More
LexCliq

Organic Lion’s Mane Gummies UK Full Reviews, Price, Benefits & Buy?

Organic Lion’s Mane Gummies UK is a trademark mind improvement supplement made for better frontal cortex prosperity. It could help with dealing with mental capacities in a portion of a month. What’s more, the cases may similarly uphold energy levels in the body. You could attempt to get a more sharpened base on work directly […]

Read More
LexCliq

Premier League Match Table – What Can Your feel taught from the experts

During our evaluation we start thinking about a variation associated with proposed 3-group structure when the purchase of suits for every single team is predetermined. In this paper, we talk about the probability of matches with limited importance (known as non-competitive) for final team standing for both 4-team and 3-team groups and we introduce our […]

Read More