The Real Estate (Regulation And Development ) Act, 2016

Wfi‘*MW‘IIZWS—IGREGISTEREDNO.I)Nmans—16
9]IEWfifheGangof3nd”EXTRAORDINARY‘lFl ll-‘E'3’1PARTII—Section1mt}WfiraPUBLISHEDBYAUTHORITY.‘- 1%11]asfiat,nfirart.first26.201mb6,1933(w)No.17]NEWDELHI.SATURDAY.MARCH26.2016/CHAITRA6,1938(SAKA)mmfihwfiwfiafitfififiwmfimfimfimmfitSepannepaging’sgit‘entothisl’artinorderthatitmybefiledasnseparatecompilaflon.MINISTRYOFLAWANDJUSTICE(LegislativeDepartment)NewDelhi.the26thMarch.2016/Chaitra6.1938(Saka)ThefollowingActofParliamentreceivedtheassentofthePresidentonthe25thMarch.2016.andisherebypublishedforgeneralinformation:—THEREALESTATE(REGULATIONANDDEVELOPMENT)ACT.2016No.16OF2016[25thMarch.2016.]AnActtoestablishtheRealEstateRegulatoryAuthorityforregulationandpromotionoftherealestatesectorandtoensuresaleofplot.apartmentorbuilding,asthecasemaybe.orsaleofrealestateproject.inanefficientandtransparentmannerandtoprotecttheinterestofconsumersintherealestatewctorandtoestablishanadjudicatingmechanismforspeedydisputeredressalandalsotoestablishtheAppellateTribunaltohearappealsfromthedecisions,directionsorordetsoftheRealEstateRegulatoryAuthorityandtheadjudicatingofiioerandformattersconnectedthereudthorincidentalthereto,BEitenactedbyParliamentintheSixty-seventhYearoftheRepublicofIndia8'follows:—. CHAPTER1Pneummttvl.(I)'nusActmaybecalledtheRealEstate(RegulationandDevelopment)Act.2016.(2)ItextendstothewholeofIndiaexcepttheStateofJammuandKashmir.(3)ItshallcomeintoforceonsuchdateastheCentralGovemmentmay.bynotificationintheOfficialGazette.appoint:
Shorttitle.extentandcommence-meat.
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 THEGAZETTEOFINDIAEXTRAORDINARY[PARTII—ProvidedthatdifferentdatesmaybeappointedfordifferentprovisionsofthisActandanyreferenceinanysuchprovisiontothecommencementofthisActshallbeconstruedasareferencetothecomingintoforceofthatprovision.D°fi“m°“s-2.InthisAct.unlessthecontextotherwiserequires,—(a)"adjudicatingofficer"meanstheadjudicatingofficerappointedundersub-section(1)ofsection71;(b)"advertisement"meansanydocumentdescribedorissuedasadvertisementthroughanymediumandincludesanynotice.circularorotherdocumentsorpublicityinanyform.informingpersonsaboutarealestateproject,orofferingforsaleofaplot,buildingorapartmentorinvitingpersonstopurchaseinanymannersuchplot,buildingorapartmentortomakeadvancesordepositsforsuchpurposes;(c)"agreementforsale"meansanagreemententeredintobetweenthepromoterandtheallh“ottee;(d)"allottee"inrelationtoarealestateproject,meansthepersontowhomaplot,apartmentorbuilding,asthecasemaybe.hasbeenallotted,sold(whetherasfreeholdorleasehold)orotherwisetransferredbythepromoter,andincludesthepersonwhosubsequentlyacquiresthesaidallotmentthroughsale,transferorotherwisebutdoesnotincludeapersontowhomsuchplot,apartmentorbuilding,asthecasemaybe,isgivenonrent; '(e)"apartment"whethercalledblock,chamber,dwellingunit,flat.office,showroom,shop,godown,premises,suit,tenement,unitorbyanyothername,meansaseparateandself-containedpartofanyimmovableproperty,includingoneormoreroomsorenclosedspaces,locatedononeormorefloorsoranypartthereof,inabuildingoronaplotofland,usedorintendedtobeusedforanyresidentialorcommercialusesuchasresidence,office,shop,showroomorgodownorforcarryingonanybusiness.occupation,professionortrade,orforanyothertypeofuseancillarytothepurposespecified;(f)"AppellateTribunal"meanstheRealEstateAppellateTribunalestablishedundersection43;(g)"appropriateGovernment"meansinrespectofmattersrelatingto,—(i)theUnionterritorywithoutLegislature,theCentralGovernment;(ii)theUnionterritoryofPuduchcrry,theUnionterritoryGovernment;(iii)theUnionterritoryofDelhi,theCentralMinistryofUrbanDevelopment;(iv)theState,theStateGovernment;(h)"architect"meansapersonregisteredasanarchitectundertheprovisionsoftheArchitectsAct,1972; 20of1972.(1')"Authority"meanstheRealEstateRegulatoryAuthorityestablishedundersub-SW:(i) "building"includesanystructureorerectionorpanofastructureorerectionwhichisintendedtobeusedforresidential.commercialorforthepurposeofanybusiness.occupation.professionortrade.orforanyotherrelatedpurposes;(k)"carpetarea"meansthenetusablefloorareaofanapartment.excludingtheareacoveredbytheexternalwalls,areasunderservicesshafts.exclusivebalconyorverandahareaandexclusiveopenterracearea.butincludestheareacoveredbytheinternalpartitionwallsoftheapartment.
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339‘1] THEGAZETTEOFINDIAEXTRAORDINARY3whichisappurtenanttothenetusablefloortueaot'anapartment.meantfortheexclusiveuseoftheallottee:and"exclusiveopenterracearea“tneanstheareaofopenterracewhichisappurtenanttothenetusablefloorareaofanapartment.tneantfortheexclusiveuseoftheallottee:(I)“Chairperson"meanstheChairpersonoftheRealEstateRegulatoryAuthorityappointedundersection2l:(m)"commencementcertificate"meansthecommencementcertificateorthebuildingpomerrnit.bywhatevernamecalledissuedbythecompetentauthoritytoalloworperrrritthepromotertobegindevelopmentworksonanmmovaepropey.asperthesanctionedplan:(It)"commonares"mean—(i)theentirelandfortherealestateprojectorwheretheprojectisdevelopedinphasesandregrstratronunderthisActissoughtforaphase.theentirelandforthatphase;(it)thestaircases.lifts.staircaseandliftlobbies.firescapes.andcommonentrancesandexitsofbuildings;(iii)thecommonbasements,terraces.parks.playareas.openparkingareasandcommonstoragespaces:(iv)thepremisesforthelodgingofpersonsemployedforthemanagementofthepropertyincludingaccommodationforwatchandwardstaffsorforthelodgingofcommunityservicepersonnel;(v)installationsofcentralservicessuchaselectricity.gas.waterandsanitation,air-conditioningandincinerating.systemforwaterconservationandrenewableenergy;(vi)thewatertanks.sumps.motors.fans.compressors.ductsandallapparatusconnectedwithinstallationsforcommonuse;(vii)allcommunityandcommercialfacilitiesasprovidedintherealestateproject;(viii)allotherportionoftheprojectnecessaryorconvenientforitsmaintenance.safety,etc..andincommonuse;(0)"coma"meansacompanyincorporatedandregisteredunderthe18of2013.CompaniesAct.2013andincludes.—M.(i) acorporationestablishedbyorunderanyCentralActorStateAct;(it)adevelopmentauthorityoranypublicauthorityestablishedbytheGovermnentinthisbehalfunderanylawforthetimebeinginforce:(p)"competentauthorit"mezursthelocalauthorityoranyauthoritycreatedorestablishedunderanylawforthetimebeinginforcebytheappropriateGovernmentwhichexercisesauthorityoverlandunderitsjurisdiction.andhaspowerstogivepermissionfordevelopmentofsuchimmovableproperty;f (q)"comletioncertificate"meansthecompletioncertificate.orsuchothercertificate.bywhatevernamecalled.issuedbythecompetentauthoritycertifyingthattherealestateprojecthasbeendevelopedaccordingtothesanctionedplan.layout1: planandspecifications.asapprovedbythecompetentauthorityunderthelocallaws;(r)"day"meanstheworkingday.intheconcernedStateorUnionterritory.asthecasemaybe.notifiedbytheappropriateGovernmentfromtimetotime;
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THEGAZETTEOFINDIAEXTRAORDINARY[PART—.(s)"development"withitsgrammaticalvariationsandcognateexpressions,meanscarryingoutthedevelopmentofimmovableproperty,engineeringorotheroperationsin,on,overorunderthelandorthemakingofanymaterialchangeinanyimmovablepropertyorlandandincludesre-development;(t)"developmentworks"meanstheexternaldevelopmentworksandinternaldevelopmentworksonimmovableproperty;(u)"engineer"meansapersonwhopossessesabachelor'sdegreeorequivalentfromaninstitutionrecognisedbytheAllIndiaCouncilofTechnicalEducationoranyUniversityoranyinstitutionrecognisedunderalaworisregisteredasanengineerunderanylawforthetimebeinginforce;(v)"estimatedcostofrealestateproject"meansthetotalcostinvolvedindevelopingtherealestateprojectandincludesthelandcost,taxes,cess,developmentandothercharges; ’—"".'"——-_'.————"(w)"externaldevelopmentworks"includesroadsandroadsystemslandscaping,watersupply,seweageanddrainagesystems,electricitysuplytransformer,sub-station,solidwastemanagementanddisposaloranyotherworkwhichmayhavetobeexecutedintheperipheryof,oroutside,aprojectforitsbenefit,asmaybeprovidedunderthelocallaws;(x)"family"includeshusband,wife,minorsonandunmarrieddaughterwhollydependentonaperson;0)"garage"meansaplacewithinaprojecthavingaroofandwallsonthreesidesforparkinganyvehicle,butdoesnotincludeanunenclosedoruncoveredparkingspacesuchasopenparkingareas;(2)"imovableproperty"includesland.buildings,rightsofways,lightsoranyotherbenefitarisingoutoflandandthingsattachedtotheearthorpermanentlyfastenedtoanythingwhichisattachedtotheearth,butnotstandingtimber,standingcropsorgrass;(za)"interest"meanstheratesofinterestpayablebythepromoterortheallottee,asthecasemaybe.Explanation—Forthepurposeofthisclause—(i)therateofinterestchargeablefromtheallotteebythepromoter,incaseofdefault,shallbeequaltotherateofinterestwhichthepromotershallbeliabletopaytheallottee,incaseofdefault;(ii)theinterestpayablebythepromotertotheallotteeshallbefromthedatethepromoterreceivedtheamountoranypartthereoftillthedatetheamountorpartthereofandinterestthereonisrefunded,andtheinterestpayablebytheallotteetothepromotershallbefromthedatetheallotteedefaultsinpaymenttothepromotertillthedateitispaid;(zb)"intemaldevelopmentworks"meansroads,footpaths,watersupply,sewers,drains,parks,treeplanting,streetlighting,provisionforcommunitybuildingsandfortreatmentanddisposalofsewageandsullagewater,solidwastemanagementanddisposal,waterconservation,energymanagement,fireprotectionandfiresafety ‘requirements,socialinfrastructuresuchaseducationalhealthandotherpublicamenities_loranyotherworkinaprojectforitsbenefit,aspersanctionedplans;(zc)"localauthority"meanstheMunicipalCorporationorMunicipalityorPanchayatmmalBodyconmforthetimebeinginforceforprovidingmunicipalservicesorbasicservices.asthecasemaybe,inrespectofareasunderitsjurisdication;
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(zd)"Member"meansthememberoftheRealEstateRegulatoryAuthorityappointedundersection21andincludestheChaiperson;(ze)"notification"meansanotificationpublishedintheOfficialGazetteandtheexpression"notify"shallbeconstruedaccordingly;(If)"occupancycertificate"meanstheoccupancycertificate,orsuchothercertificatebywhatevernamecalled,issuedbythecompetentauthoritypermrttingoccupationofanybuilding,asprovidedunderlocallaws,whichhasprovrsronforc1v1cinfrastructuresuchaswater,sanitationandelectricity;(zg)"Person"includes,—__',.__(i)anindividual;‘(ii)aHinduundividedfamily;(iii)acompany;9of1932. (iv)afirmundertheIndianPartnershipAct,1932ortheLimitedLiability6°f2009-PartnershipAct,2008,asthecasemaybe;(v)acompetentauthority;(vi)anassociationofpersonsorabodyofindividualswhetherincorporatedornot;(vii)aco-operativesocietyregisteredunderanylawrelatingtoco—operativesocieties;(viii)anysuchotherentityastheappropriateGovernmentmay,bynotification,specifyinthisbehalf;(zh)"planningarea"meansaplanningareaoradevelopmentareaoralocalplanningareaoraregionaldevelopmentplanarea,bywhatevernamecalled,oranyotherareaspecifiedassuchbytheappropriateGovernmentoranycompetentauthorityandincludesanyareadesignatedbytheappropriateGovernmentorthecompetentauthoritytobeaplanningareaforfutureplanneddevelopment,underthelawrelatingtoTownandCountryFlamingforthetimebeinginforceandasrevisedfromtimetotime;(zi)"prescribed"meansprescribedbyrulesmadeunderthisAct;(zj)"project"meanstherealestateprojectasdefinedincluase(zn);(21:)"promoter"means,—(i)apersonwhoconstructsorcausestobeconstructedanindependentbuildingorabuildingconsistingofapartments,orconvertsanexistingbuildingorapartthereofintoapartments,forthepurposeofsellingallorsomeoftheapartmentstootherpersonsandincludeshisassignees;or(ii)apersonwhodevelopslandintoaproject,whetherornotthepersonalsoconstructsstructuresonanyoftheplots,forthepurposeofsellingtootherpersonsallorsomeoftheplotsinthesaidproject.whetherwithorwithoutstructuresthereon;or(iii)anydevelopmentauthorityoranyotherpublicbodyinrespectofallotteesof—(a)buildingsorapartments.asthecasemaybe.constructedbysuchauthorityorbodyonlandsownedbythemorplacedattheirdisposalbytheGovernment;orScanned
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(b)plotsownedbysuchauthorityorbodyorplacedattheirdisposalbytheGovernment,forthepurposeofsellingallorsomeoftheapartmentsorplots;or(iv)anapexStatelevelco-operativehousingfinancesocietyandaprimaryco—operativehousingsocietywhichconstructsapartmentsorbuildingsforitsMembersorinrespectoftheallotteesofsuchapartmentsorburldmgs;or(v)anyotherpersonwhoactshimselfasabuilder,coloniser,contractor,developer,estatedeveloperorbyanyothernameorclaimstobeactingastheholderofapowerofattorneyfromtheownerofthelandonwhichthebuildingorapartmentisconsuuctedorplotisdevelopedforsale;or(vi)suchotherpersonwhoconstructsanybuildingorapartmentforsaletothegeneralpublic.Explanation—Forthepurposesofthisclause,wherethepersonwhoconstructsorconvertsabuildingintoapartmentsordevelopsaplotforsaleandthepersonswhosellsapartmentsorplotsaredifferentpersons,bothofthemshallbedeemedtobethepromotersandshallbejointlyliableassuchforthefunctionsandresponsibilitiesspecified,underthisActortherulesandregulationsmadethereunder;(zl)"prospectus"meansanydocumentdescribedorissuedasaprospectusor—.—" . .anynotice,circular,orotherdocumentofferingforsaleoranyrealestateprOjectorinvitinganypersontomakeadvancesordepositsforsuchpurposes;(zm)"realestateagent"meansanyperson,whonegotiatesoractsonbehalfofonepersoninatransactionoftransferofhisplot,apartmentorbuilding,asthecasemaybe.inarealestateproject,bywayofsale,withanotherpersonortransferofplot,apartmentorbuilding,asthecasemaybe,ofanyotherpersontohimandreceivesremunerationorfeesoranyotherchargesforhisserviceswhetherascommissionorotherwiseandincludesapersonwhointroduces,throughanymedium,prospectivebuyersandsellerstoeachotherfornegotiationforsaleorpurchfiplot,apfififit‘07building,asfitecasemaybe,andincludespropertydealers,brokers,middlemenbywhatevernamecalled;V"
(m)"realestateproject"meansthedevelopmentofabuildingorabuildingconsistingofapartments,orconvertinganexistingbuildingorapartthereofintoapartments,orthedevelopmentoflandintoplotsorapartment,asthecasemaybe.forthepurposeofsellingallorsomeofthesaidapartmentsorplotsorbuilding,asthecasemaybe.andincludesthecommonareas,thedevelopmentworks,allimprovementsandstructuresthereon,andalleasement,rightsandappurtenancesbelongingthereto;(zo)"regulations"meanstheregulationsmadebytheAuthorityunderthisAct:(21))"rule"meanstherulesmadeunderthisActbytheappropriateGovernment:(zq)"sanctionedplan"meansthesiteplan,buildingplan.serviceplan,parkingandcirculationplan,landscapeplan.layoutplan,zoningplanandsuchotherplanandincludesstructuraldesigns.ifapplicable.permissionssuchasenvironmentpermissionandsuchotherpermissions,whichareapprovedbythecompetentauthoritypriortostartofarealestateproject;(zr)wordsandexpressionsusedhereinbutnotdefinedinthisActanddefinedinanylawforthetimebeinginforceorinthemunicipallawsorsuchotherrelevantlawsoftheappropriateGovernmentshallhavethesamemeaningsrespectivelyassignedtotheminthoselaws.Scanned
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__A."W"”rim-SBC.1] THEGAZE’I'I’EorINDIAEXTRAORDINARY7CHAPTERHREGISTRATIONorREALESTATEmowerANDREGIS’I‘RATIONorREALESTATEAGENTS\Al)Nopromotershalladvertise,market,book,sellorofferforsale,orinvitepersonspriortopurchaseinanymanneranyplot,apartmentorbuilding,asthecasemaybe,inanyrealfeglsmnon. .. . . . . . ofrealestateestateprOJectorpartofIt,Inanyplanmngarea,WithoutregisteringtherealestateprojectprojectwithwiththeRealEstateRealatoryAuthorityestablishedunderthisAct: ReallEstateReguatoryProvidedthatprojectsthatareongoingonthedateofcommencementofthisActandAuthority.forwhichthecompletioncertificatehasnotbeenissued,thepromotershallmakeanapplicationtotheAuthorityforregistrationofthesaidprojectwithinaperiodofthreemonthsfromthedateofcommencementofthisAct:ProvidedfurtherthatiftheAuthoritythinksnecessary,intheinterestofallottees,forprojectswhicharedevelopedbeyondtheplanningareabutwiththerequisitepermissionofthelocalauthority,itmay,byorder,directthepromoterofsuchprojecttoregisterwiththeAuthority,andtheprovisionsofthisActortherulesandregulationsmadethereunder,shallapplytosuchprojectsfromthatstageofregistration./ (2)Notwithstandinganythingcontainedinsub-section(1),noregistrationoftherealestateprojectshallberequired——(a)wheretheareaoflandproposedtobedevelopeddoesnotexceedfivehundredsquaremetersorthenumberofapartmentsproposedtobedevelopeddoesnotexceedeightinclusweofallphases:—___—’-#‘fifiProvided that,iftheappropriateGovernmentconsidersitnecessary,itmay,reducethethresholdbelowfivehundredsquaremetersoreightapartments,asthecasemaybe,inclusiveofallphases,forexemptionfromregistrationunderthisAct;(b)wherethepromoterhasreceivedcompletioncertificateforarealestateprojectpriortoconunencementofthisAct;/(c)forthepurposeofrenovationorrepairorre—developmentwhichdoesnotinvolvemarketing,advertisingsellingornewallotmentofanyapartment,plotorbuilding,asthecasemaybe,undertherealestateproject.Explanation—Forthepurposeofthissection.wheretherealestateprojectistobedevelopedinphases,everysuchphaseshallbeconsideredastandalonerealestateproject,andthepromotershallobtainregistrationunderthisActforeachphaseseparately.f”..—4.(1)EverypromotershallmakeanapplicationtotheAuthorityforregistrationoftheApplicationrealestateprojectinsuchform,manner,withinsuchtimeandaccompaniedbysuchfeeasfor'_maybespecifiedbytheregulationsmadebytheAuthogtx 33:33:82”projects.V6.Thepromotershallenclosethefollowingdocumentsalongwiththeapplicationreferredtoinsub-section(1),namely:—(a)abriefdetailsofhisenterpriseincludingitsname,registeredaddress.typeofenterprise(proprietorship.societies.partnership.companies.competentauthority),andtheparticularsofregistration.andthenamesandphotographsofthepromoter;(17)abriefdetailoftheprojectslaunchedbyhim,inthepastfiveyears,whetheralreadycompletedorbeingdeveloped.asthecasemaybe.includingthecurrentstatusofthesaidprojects,anydelayinitscompletion.detailsofcasespending,detailsofit,i t .It..|!.-.31,_.._~,_.,.~._
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THEGAZETTEOFINDIAEXTRAORDINARY[PARTII—(c)anauthenticatedcopyoftheapprovalsandcommencementcertificatefromthecompetentauthorityobtainedinaccordancewiththelawsasmaybeapplicablefortherealestateprojectmentionedintheapplication,andwheretheprojectisproposedtobedevelopedinphases.anauthenticatedcopyoftheapprovalsandcommencementcertificatefromthecompetentauthorityforeachofsuchphases;(d)thesanctionedplan,layoutplanandspecificationsoftheproposedprojectorthephasethereof,andthewholeprojectassanctionedbythecompetentauthority;(e)theplanofdevelopmentworkstobeexecutedintheproposedprojectandtheproposedfacilitiestobeprovidedthereofincludingfirefightingfacilities,drinkingwaterfacilities,emergencyevacuationservices,useofrenewableenergy;(1‘)thelocationdetailsoftheproject,withcleardemarcationoflanddedicatedfortheprojectalongwithitsboundariesincludingthelatitudeandlongitudeoftheendpointsoftheproject;(g)proformaoftheallotmentletter.agreementforsale,andtheconveyancedeedproposedtobesignedwiththeallottees;(h)thenumber,typeandthecarpetareaofapartmentsforsaleintheprojectalongwiththeareaoftheexclusivebalconyorverandahareasandtheexclusiveopenterraceareasapartmentwiththeapartment,ifany;(i)thenumberandareasofgarageforsaleintheproject;(i)thenamesandaddressesofhisrealestateagents,ifany.fortheproposedproject;(k) thenamesandaddressesofthecontractors,architect,structuralengineer,ifanyandotherpersonsconcernedwiththedevelopmentoftheproposedproject;(I)adeclaration,supportedbyanaffidavit,whichshallbesignedbythepromoteroranypEi's'onatlfirisedbythepromoter,stating:—(A)thathehasalegaltitletothelandonwhichthedevelopmentisproposedalongwithlegallyvaliddocumentswithauthenticationofsuchtitle,ifsuchlandisownedbyanotherperson;(B)thatthelandisfreefromallencumbrances,orasthecasemaybedetailsoftheencumbrancesonsuchlandincludinganyrights,title,interestornameofanypartyinoroversuchlandalongwithdetails;(C)thetimeperiodwithinwhichheundertakestocompletetheprojectorphasethereof,asthecasemaybe;(D)thatseventypercent.oftheamountsrealisedfortherealestateprojectfromtheallottees,fromtimetotime,shallbedepositedinaseparateaccounttobemaintainedinascheduledbanktocoverthecostofconstructionandthelandcostandshallbeusedonlyforthatpurpose:Providedthatthepromotershallwithdrawtheamountsfromtheseparateaccount,tocoverthecostoftheproject.inproportiontothepercentageofcompletionoftheproject:Providedfurtherthattheamountsfromtheseparateaccountshallbewithdrawnbythepromoterafteritiscertifiedbyanengineer,anarchitectandacharteredaccountantinpracticethatthewithdrawalisinproportiontothepercentageofcompletionoftheproject:Providedalsothatthepromotershallgethisaccountsauditedwithinsixmonthsaftertheendofeveryfinancialyearbyacharteredaccountantinpractice,"'- andshallproduceastatementofaccountsdulycertifiedandsignedbysuch
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SEC.1] THEGAZETTEOFINDIAEXTRAORDINARY9
charteredaccountantanditshallbeverifiedduringtheauditthattheamountscollectedforaparticularprojecthavebeenutilisedfortheprojectandthewithdrawalhasbeenincompliancewiththeproportiontothepercentageofcompletionoftheproject.Explanation.—Forthepurposeofthisclause,theterm"schedulebanlt"meansabankincludedintheSecondSchduledtotheReserveBankofIndiaAct,1934;(E)thatheshalltakeallthependingapprovalsontime,fromthecompetentauthorities;(F)thathehasfurnishedsuchotherdocumentsasmaybeprescribedbytherulesorregulationsmadeunderthisAct;and(m)suchotherinformationanddocumentsasmaybeprescribed.(3)TheAuthorityshalloperationaliseawebbasedonlinesystemforsubmittingapplicationsforregistrationofprojectswithinaperiodofoneyearfromthedateofitsestablishment.5.(I)Onreciptoftheapplicationundersub—section(1)ofsection4,theAuthorityGrantofshallwithinaperiodofthirtydays. ‘eg'mm'.(a)grantregistrationsubjecttotheprovisionsofthisActandtherulesandregulationsmadethereunder,andprovidearegistrationnumber,includingaLoginIdandpasswordtotheapplicantforaccessingthewebsiteoftheAuthorityandtocreatehiswebpageandtofillthereinthedetailsoftheproposedproject;or(b)rejecttheapplicationforreasonstoberecordedinwriting,ifsuchapplicationdoesnotconformtotheprovisionsofthisActortherulesorregulationsmadethereunder:Providedthatnoapplicationshallberejectedunlesstheapplicanthasbeengivenanopportunityofbeingheardinthematter.(2)IftheAuthorityfailstogranttheregistrationorrejecttheapplication,asthecasemaybe,asprovidedundersub-section(1),theprojectshallbedeemedtohavebeenregistered,andtheAuthorityshallwithinaperiodofsevendaysoftheexpiryofthesaidperiodofthirtydaysspecifiedundersub-section(1),providearegistrationnumberandaLoginIdandpasswordtothepromoterforaccessingthewebsiteoftheAuthorityandtocreatehiswebpageandtofillthereinthedetailsoftheproposedproject.(3)Theregistrationgrantedunderthissectionshallbevalidforaperioddeclaredbythepromoterundersub-clause(C)ofclause(1)ofsub—section(2)ofsection4forcompletionoftheprojectorphasethereof,asthecasemaybe.6.Theregistrationgrantedundersection5maybeextendedbytheAuthorityonanapplicationmadebythepromoterduetoforcemajeure,insuchformandonpaymentofsuchfeeasmaybespecifiedbyregulationsmadebytheAuthority:ProvidedthattheAuthoritymayinreasonablecircumstances.withoutdefaultonthepanofthepromoter.basedonthefactsofeachcase.andforreasonstoberecordedinwriting.extendtheregistrationgrantedtoaprojectforsuchtimeasitconsidersnecessary.whichshall.inaggregate.notexceedaperiodofoneyear:Providedfurtherthatnoapplicationforextensionofregistrationshallberejectedunlesstheapplicanthasbeengivenanopportunityofbeingheardinthematter.Explanation.—Forthepurposeofthissection.theexpression"forcemajeure"shallmeanacaseofwar.flood.drought,fire.cyclone.earthquakeoranyothercalamitycausedbynatureaffectingtheregulardevelopmentoftherealestateproject
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10 THEGAZETTEOFINDIAEXTRAORDINARY[PARTH—
Swank“7.(1)TheAuthoritymay,onreceiptofacomplaintorsuomominthisbehalforonthe“mumm-recommendationofthecompetentauthority,revoketheregistrationgrantedundersection5,afterbeingsatisfiedthat—(a)thepromotermakesdefaultindoinganythingrequiredbyorunderthisActortherulesortheregulationsmadethereunder;(b)thepromoterviolatesanyofthetermsorconditionsoftheapprovalgivenbythecompetentauthority;(c)thepromoterisinvolvedinanykindofunfairpracticeorirregularities.Explanation—Forthepurposesofthisclause,theterm"unfairpracticemeans"apracticewhich,forthepurposeofpromotingthesaleordevelopmentofanyrealestateprojectadoptsanyunfairmethodorunfairordeceptivepracticeincludinganyofthefollowingpractices,namely:—(A)thepracticeofmakinganystatement,whetherinwritingorbyvisiblerepresentationwhich,—(0falselyrepresentsthattheservicesareofaparticularstandardorgrade;(ii)representsthatthepromoterhasapprovaloraffiliationwhichsuchpromoterdoesnothave;(iii)makesafalseormisleadingrepresentationconcerningtheservices;(B)thepromoterpermitsthepublicationofanyadvertisementorprospectuswhetherinanynewspaperorotherwiseofservicesthatarenotintendedtobeoffered;(d)thepromoterindulgesinanyfraudulentpractices.(2)Theregistrationgrantedtothepromoterundersection5shallnotberevokedunlesstheAuthorityhasgiventothepromoternotlessthanthirtydaysnotice,inwriting,statingthegroundsonwhichitisproposedtorevoketheregistraton,andhasconsideredanycauseshownbythepromoterwithintheperiodofthatnoticeagainsttheproposedrevocation.(3) TheAuthoritymay,insteadofrevokingtheregistrationundersub-section(1),permitittoremaininforcesubjecttosuchfurthertermsandconditionsasitthinksfittoimposeintheinterestoftheallottees,andanysuchtermsandconditionssoimposedshallbebindinguponthepromoter.(4)TheAuthority,upontherevocationoftheregistration,—(a)shalldebarthepromoterfromaccessingitswebsiteinrelationtothatprojectandspecifyhisnameinthelistofdefaultersanddisplayhisphotographonitswebsiteandalsoinformtheotherRealEstateRegulatoryAuthorityinotherStatesandUnion_territoriesaboutsuchrevocationorregistration;(17)shallfacilitatetheremainingdevelopmentworkstobecaniedoutinaccordancewiththeprovisionsofsection8;(c)shalldirectthebankholdingtheprojectbackaccount.specifiedundersub-clause(D)ofclause(I)ofsub-section(2)ofsection4,tofreezetheaccount.andthereaftertakesuchfurthernecessaryactions,includingconsequentde-freezingofthesaidaccount.towardsfacilitatingtheremainingdevelopmentworksinaccordancewiththeprovisionsofsection8;(:1)may.toprotecttheinterestofallotteesorinthepublicinterest.issuesuchdirectionsasitmaydeemnecessary.
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SBC-1] THEGAZETTEOFINDIAEXTRAORDINARYll8.UponlapseoftheregistrationoronrevocationoftheregistrationunderthisAct,theAuthority,mayconsulttheappropriateGovernmenttotakesuchactionasitmaydeemfitincludingthecarryingoutoftheremainingdevelopmentworksbycompetentauthorityorbytheassociationofallotteesorinanyothermanner,asmaybedeterminedbytheAuthority:Providedthatnodirection.decisionororderoftheAuthorityunderthissectionshalltakeeffectuntiltheexpiryoftheperiodofappealprovidedundertheprovisionsofthisAct:ProvidedfurtherthatincaseofrevocationofregistrationofaprojectunderthisAct,theassociationofallotteesshallhavethefirstrightofrefusalforcarryingoutoftheremainingdeveloptworks.9.(I)Norealestateagentshallfacilitatethesaleorpurchaseoforactonbehalfofanypsontofacilitatethesaleorpurchaseofanyplot,apartmentorbuilding,asthecasemaybaitaremstatepr0jectorp‘afififit,beingthepartoftherealestateprojectregisteredfirdersection3,beingsoldbythepromoterinanyplanningarea,withoutobtainingregistrationunderthissection.(2)EveryrealestateagentshallmakeanapplicationtotheAuthorityforregistrationinsuchform.manner,withinsuchtimeandaccompaniedbysuchfeeanddocumentsasmaybeprescribed.(3)TheAuthorityshall,withinsuchperiod,insuchmanneranduponsatisfyingitselfofthefulfillmentofsuchconditions.asmaybeprescribed—(a)grantasingleregistrationtotherealestateagentfortheentireStateofUniontenitory,asthecasemaybe;(b)rejecttheapplicationforreasonstoberecordedinwriting,ifsuchapplicationdoesnotconformtotheprovisionsoftheActortherulesorregulationsmadethereunder:Providedthatnoapplicationshallberejectedunlesstheapplicanthasbeengivenanopportunityofbeingheardinthematter.(4)Whereonthecompletionoftheperiodspecifiedundersub-section(3),iftheapplicantdoesnotreceiveanycommunicationaboutthedeficienciesinhisapplicationortherejectionofhisapplication,heshallbedeemedtohavebeenregistered.(5)EveryrealestateagentwhoisregisteredaspertheprovisionsofthisActortherulesandregulationsmadethereunder,shallbegrantedaregistrationnumberbytheAuthority,whichshallbequotedbytherealestateagentineverysalefacilitatedbyhimunderthisAct.(6)Everyregistrationshallbevalidforsuchperiodasmaybeprescribed,andshallberenewableforaperiodinsuchmannerandonpaymentofsuchfeeasmaybeprescribed.(7)WhereanyrealestateagentwhohasbeengrantedregistrationunderthisActcommitsbreachofanyoftheconditionsthereoforanyothertermsandconditionsspecifiedunderthisActoranyrulesorregulationsmadethereunder,orwheretheAuthorityissatisifiedthatsuchregistrationhasbeensecuredbytherealestateagentthroughmisrepresentationorfraud,theAuthoritymay.withoutprejudicetoanyotherprovisionsunderthisAct.revoketheregistrationorsuspendthesameforsuchperiodasitthinksfit:ProvidedthatnosuchrevocationorsuspensionshallbemadebytheAuthorityunlessanopportunityofbeingheardhasbeengiventotherealestateagent.10.Everyrealestateagentregisteredundersection9shall—(a)notfacilitatethesaleorpurchaseofanyplot.apartmentorbuilding.asthecasemaybe.inarealestateprojectorpartofit.beingsoldbythepromoterinanyplanningarea,whichisnotregisteredwiththeAuthority:
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ofAuthorityconsequentuponlapseoforonrevocationofregistration.
Registrationofrealestateagents.
Functionsofrealestateagents.
12
 THEGAZETTEOFINDIAEXTRAORDINARY[PARTII—
(b)maintainandpreservesuchbooksofaccount,recordsanddocumentsasmayprescribed;(c)notinvolvehimselfinanyunfairtradepractices,namely:—(i)thepracticeofmakinganystatement,whetherorallyorinwritingorbyvisiblerepresentationwhich—-(A)falselyrepresentsthattheservicesareofaparticularstandardorgrade;(B)representsthatthepromoterorhimselfhasapprovaloraffiliationwhichsuchpromoterorhimselfdoesnothave;(C)makesafalseormisleadingrepresentationconcerningtheservices;(ii)permittingthepublicationofanyadvertisementwhetherinanynewspaperorotherwiseofservicesthatarenotintendedtobeoffered.(d)facilitatethepossessionofalltheinformationanddocuments,astheallottee,isentitledto,atthetimeofbookingofanyplot,apartmentorbuilding,asthecasemaybe;(e)dischargesuchotherfunctionsasmaybeprescribed.CHAPTERIIIFUNcrionsANDDUTIESOFPROMOTERFunctionsand11.(1)Thepromotershall,uponreceivinghisLoginIdandpasswordunderclause(g;du'i“0fofsub-section(1)orundersub-section(2)ofsection5,asthecasemaybe,createhiswebPrommer'pageonthewebsiteoftheAuthorityandenteralldetailsofth'eproposedprojectasprovidedundersub-section(2)ofsection4,inallthefieldsasprovided,forpublicviewing,including—(a)detailsoftheregistrationgrantedbytheAuthority;(b)quarterlyup-to-datethelistofnumberandtypesofapartmentsorplots,asthecasemaybe,booked;(c)quarterlyup-to-datethelistofnumberofgaragesbooked;(d)quarterlyup-to—datethelistofapprovalstakenandtheapprovalswhicharependingsubsequenttocommencementcertificate;(e)quarterlyup-to-datestatusoftheproject;and(f)suchotherinformationanddocumentsasmaybespecifiedbytheregulationsmadebytheAuthority.(2)TheadvertisementorprospectusissuedorpublishedbythepromotershallmentionprominentlythewebsiteaddressoftheAuthority,whereinalldetailsoftheregisteredprojecthavebeenenteredandincludetheregistrationnumberobtainedfromtheAuthorityandsuchothermattersincidentalthereto.(3)Thepromoteratthetimeofthebookingandissueofallotmentlettershallberesponsibletomakeavailabletotheallottee,thefollowinginformation.namely:—(a)sanctionedplans,layoutplans.alongwithspecifications.approvedbythecompetentauthority,bydisplayatthesiteorsuchotherplaceasmaybespecifiedbytheregulationsmadebytheAuthority;(b)thestagewisetimescheduleofcompletionoftheproject.includingtheprovisionsforcivicinfrastructurelikewater,sanitationandelecu'icity.Scanned
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SEC.1] THEGAZETTEOFINDIAEXTRAORDINARYl3(4)Thepromotershall—(a)beresponsibleforallobligations,responsibiltiesandfunctionsundertheprovisionsofthisActortherulesandregulationsmadethereunderortotheallotteesaspertheagreementforsale,ortotheassociationofallottees,asthecasemaybe,tilltheconveyanceofalltheapartments.plotsorbuildings,asthecasemaybe.totheallottees,orthecommonareastotheassociationofallotteesorthecompetentauthority,asthecasemaybe:Providedthattheresponsibilityofthepromoter,withrespecttothestructuraldefectoranyotherdefectforsuchperiodasisreferredtoinsub-section(3)ofsection14,shallcontinueevenaftertheconveyancedeedofalltheapartments.plotsorbuildings,asthecasemaybe,totheallotteesareexecuted.(b)beresponsibletoobtainthecompletioncertificateortheoccupancycertificate,orboth,asapplicable,fromtherelevantcompetentauthorityasperlocallawsorotherlawsforthetimebeinginforceandtomakeitavailabletotheallotteesindividuallyortotheassociationofallottees,asthecasemaybe;(c)beresponsibletoobtaintheleasecertificate,wheretherealestateprojectisdevelopedonaleaseholdland,specifyingtheperiodoflease,andcertifyingthatallduesandchargesinregardtotheleaseholdlandhasbeenpaid,andtomaketheleasecertificateavailabletotheassociationofallottees;(d)beresponsibleforprovidingandmaintainingtheessentialservices,onreasonablecharges,tillthetakingoverofthemaintenanceoftheprojectbytheassociationoftheallottees;(e)enabletheformationofanassociationorsocietyorco-operativesociety.asthecasemaybe,oftheallottees,orafederationofthesame.underthelawsapplicable:Providedthatintheabsenceoflocallaws,theassociationofallottees,bywhatevernamecalled,shallbeformedwithinaperiodofthreemonthsofthemajorityofallotteeshavingbookedtheirplotorapartmentorbuilding,asthecasemaybe,intheproject;0‘) executearegisteredconveyancedeedoftheapartment,plotorbuilding,asthecasemaybe,infavouroftheallotteealongwiththeundividedproportionatetitleinthecommonareastotheassociationofallotteesorcompetentauthority,asthecasemaybe,asprovidedundersection17ofthisAct;(g)payalloutgoingsuntilhetransfersthephysicalpossessionoftherealestateprojecttotheallotteeortheassociationsofallottees,asthecasemaybe.whichhehascollectedfromtheallottees,forthepaymentofoutgoings(includinglandcost,groundrent,municipalorotherlocaltaxes.chargesforwaterorelectricity.maintenancecharges,includingmortgageloanandinterestonmortgagesorotherencumbrancesandsuchotherliabilitiespayabletocompetentauthorities,banksandfinancialinstitutions.whicharerelatedtotheproject):Providedthatwhereanypromoterfailstopayalloranyoftheoutgoingscollectedbyhimfromtheallotteesoranyliability.mortgageloanandinterestthereonbeforetransferringtherealestateprojecttosuchallottees,ortheassociationoftheallottees,asthecasemaybe.thepromotershallcontinuetobeliable,evenafterthetransferoftheproperty.topaysuchoutgoingsandpenalcharges.ifany.totheauthorityorpersontowhomtheyarepayableandbeliableforthecostofanylegalproceedingswhichmaybetakenthereforbysuchauthorityorperson;(’1)afterheexecutesanagreementforsaleforanyapartment.plotorbuilding,asthecasemaybe.notmortgageorcreateachargeonsuchapartment.plotorbuilding.' ~Mfmaybmmdifnnysuchmortgageorchargelsmdeormtedm
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‘r
..
Obligationsofpromoterregardingveracityoftheadvertisementorprospectus.No
depositoradvancetobetakenbypromoterwithoutfirstenteringintoagreementforsale.Adherence
tosanctionedplansandprojectspecificationsbythepromoter.14
THEGAZETTEOFlNDIAEXTRAORDINARY[PARTII—notwithstandinganythingcontainedinanyotherlawforthetimebeinginforce,itshallnotaffecttherightandinterestoftheallotteewhohastakenoragreedtotakesuchapartment.plotorbuilding,asthecasemaybe;(5)Thepromotermaycanceltheallotmentonlyintermsoftheagreementforsale:ProvidedthattheallotteemayapproachtheAuthorityforrelief,ifheisaggrievedbysuchcancellationandsuchcancellationisnotinaccordancewiththetermsoftheagreementforsale,unilateralandwithoutanysufficientcause.(6)Thepromotershallprepareandmaintainallsuchotherdetailsasmaybespecified.fromtimetotime,byregulationsmadebytheAuthority.12.Whereanypersonmakesanadvanceoradepositonthebasisoftheinformationcontainedinthenoticeadvertisementorprospectus,oronthebasisofanymodelapartment,plotorbuilding,asthecasemaybe,andsustainsanylossordamagebyreasonofanyincorrect,falsestatementincludedtherein,heshallbecompensatedbythepromoterinthemannerasprovidedunderthisAct:Providedthatifthepersonaffectedbysuchincorrect,falsestatementcontainedinthenotice,advertisementorprospectus,orthemodelapartment,plotorbuilding,asthecasemayhe,intendstowithdrawfromtheproposedproject,heshallbereturnedhisentireinvestmentalongwithinterestatsuchrateasmaybeprescribedandthecompensationinthemannerprovidedunderthisAct.13.(I)Apromotershallnotacceptasummorethantenpercentofthecostoftheapartment.plot,orbuildingasthecasemaybe,asanadvancepaymentoranapplicationfee,fromapersonwithoutfirstenteringintoawrittenagreementforsalewithsuchpersonandregisterthesaidagreementforsale,underanylawforthetimebeinginforce.(2)Theagreementforsalereferredtoinsub-section(1)shallbeinsuchformasmaybeprescribedandshallspecifytheparticularsofdevelopmentoftheprojectincludingtheconstructionofbuildingandapartments,alongwithspecificationsandinternaldevelopmentworksandexternaldevelopmentworks,thedatesandthemannerbywhichpaymentstowardsthecostoftheapartment,plotorbuilding,asthecasemaybe,aretobemadebytheallotteesandthedateonwhichthepossessionoftheapartment,plotorbuildingistobehandedover,theratesofinterestpayablebythepromotertotheallotteeandtheallotteetothepromoterincaseofdefault,andsuchotherparticulars,asmaybeprescribed.14.(l)Theproposedprojectshallbedevelopedandcompletedbythepromoterinaccordancewiththesanctionedplans,layoutplansandspecificationsasapprovedbythecompetentauthorities.(2)Notwithstandinganythingcontainedinanylaw,contractoragreement,afterthesanctionedplans,layoutplansandspecificationsandthenatureofthefixtures,fittings,amenitiesandcommonareas.oftheapartment,plotorbuilding.asthecasemaybe,asapprovedbythecompetentauthority,aredisclosedorfurnishedtothepersonwhoagreetotakeoneormoreofthesaidapartment.plotorbuilding,asthecasemaybe,thepromotershallnotmake—(i) anyadditionsandalterationsinthesanctionedplans.layoutplansandspecificationsandthenatureoffixtures,fittingsandamenitiesdescribedthereininrespectoftheapartment.plotorbuilding.asthecasemaybe.whichareagreedtobetaken,withoutthepreviousconsentofthatperson:Providedthatthepromotermaymakesuchminoradditionsoralterationsasmayberequiredbytheallottee.orsuchminorclumgesoralterationsasmaybenecessaryduetoarchitecturalandstructuralreasonsdulyrecommendedandverifiedbyanauthorisedArchitectorEngineerafterproperdeclarationandintimationtotheallottee.
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SEC.1] THEGAZETTEOFINDIAEXTRAORDINARY15smctfglq‘natwn.—Forthepurposeofthisclause,"minoradditionsoralterations"excludesrcangeincludinganadditiontotheareaorchangeinheight,ortheremovalofpartofabutldmg,oranychangetothestructure,suchastheconstructionorremovalorcuttingmmofanywallorapartofawall,partition,column,beam,joist,floorincludingamezzaninefloororothersupport,orachangetoorclosingofanyrequiredmeansofaccessingressoregressorachangetothefixturesorequipment,etc..(it)anyotheralterationsoradditionsinthesanctionedplans,layoutplansandspecificationsofthebuildingsorthecommonareaswithintheprojectwithouttheprevrouswrittenconsentofatleasttwo-thirdsoftheallottees,otherthanthepromoter,whohaveagreedtotakeapartmentsinsuchbuilding.Explanation—Forthepurposeofthisclause,theallottees,irrespectiveofthenumberofapartmentsorplots,asthecasemaybe,bookedbyhimorbookedinthenameofhisfamily,orinthecaseofotherpersonssuchascompaniesorfirmsoranyassociationofindividuals,etc.,bywhatevernamecalled,bookedinitsnameorbookedinthenameofitsassociatedentitiesorrelatedenterprises,shallbeconsideredasoneallotteeonly.(3)Incaseanystructuraldefectoranyotherdefectinworkmanship,qualityorprovisionofservicesoranyotherobligationsofthepromoteraspertheagreementforsalerelatingtosuchdevelopmentisbroughttothenoticeofthepromoterwithinaperiodoffiveyearsbytheallotteefromthedateofhandingoverpossession,itshallbethedutyofthepromotertorectifysuchdefectswithoutfurthercharge,withinthirtydays,andintheeventofpromoter'sfailuretorectifysuchdefectswithinsuchtime,theaggrievedallotteesshallbeentitledtoreceiveappropriatecompensationinthemannerasprovidedunderthisAct.15.(1)ThepromotershallnottransferorassignhismajorityrightsandliabilitiesinObligationsrespectofarealestateprojecttoathirdpartywithoutobtainingpriorwrittenconsentfromPfPmmo'"two-thirdallottees,exceptthepromoter,andwithoutthepriorwrittenapprovaloftheAuthority:aggro;aProvidedthatsuchtransferorassignmentshallnotaffecttheallotmentorsaleofthe3:33;?aapartments,plotsorbuildingsasthecasemaybe,intherealestateprojectmadebythethirdparty.erstwhilepromoter.Explanation—Forthepurposeofthissub-section,theallottee,irrespectiveofthenumberofapartmentsorplots,asthecasemaybe,bookedbyhimorbookedinthenameofhisfamily,orinthecaseofotherpersonssuchascompaniesorfirmsoranyassociationofindividuals,bywhatevernamecalled,bookedinitsnameorbookedinthenameofitsassociatedentitiesorrelatedenterprises,shallbeconsideredasoneallotteeonly.(2)OnthetransferorassignmentbeingpermittedbytheallotteesandtheAuthorityundersub-section(1),theintendingpromotershallberequiredtoindependentlycomplywithallthependingobligationsundertheprovisionsofthisActortherulesandregulationsmadethereunder,andthependingobligationsaspertheagreementforsaleenteredintobytheerstwhilepromoterwiththeallottees:Providedthatanytransferorassignmentpermittedunderprovisionsofthissectionshallnotresultinextensionoftimetotheintendingpromotertocompletetherealestateprojectandheshallberequiredtocomplywithallthependingobligationsoftheerstwhilepromoter,andincaseofdefault,suchintendingpromotershallbeliabletotheconsequencesofbreachordelay,asthecasemaybe.asprovidedunderthisActortherulesandregulationsmadethereunder.16.(l)ThepromotershallobtainallsuchinsurancesasmaybenotifiedbytheObligationsappropriateGovernment,includingbutnotlimitedtoinsuranceinrespectof— 0‘P3310!“‘regsmg j(i)titleofthelandandbuildingasapartoftherealestateproject;andinsuranceof '-realestate.n1(ii)constructionoftherealestateproject. project.
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15 THEGAZETTEOFINDIAEXTRAORDINARY[PARTII—(2)Thepromotershallbeliabletopaythepremiumandchargesinrespectoftheinsurancespecified'insubsection(1)andshallpaythesamebeforetransferringthe'insurancetotheassociationoftheallottees(3)Theinsuranceasspecifiedundersub-section(1)shallstandtransferredtothebenefitoftheallotteeortheassociationofallottees,asthecasemaybe,atthetimeofpromoterenteringintoanagreementforsalewiththeallottee.(4)Onformationoftheassociationoftheallottees.alldocumentsrelatingtotheinsurancespecifiedundersub-section(1)shallbehandedovertotheassociationoftheallottees.TW‘S‘H0f 17.(I)Thepromotershallexecutearegisteredconveyancedeedinfavourofthetitle. . .. . . . --allotteealongWiththeundrvrdedproportionatetitleinthecommonareastotheassociationoftheallotteesorthecompetentauthority.asthecasemaybe,andhandoverthephysicalpossessionoftheplot.apartmentofbuilding,asthecasemaybe.totheallotteesandthecommonareastotheassociationofthcallottecsorthecompetentauthority,asthecasemaybe,inarealestateproject,andtheothertitledocumentspertainingtheretowithinspecifiedperiodaspersanctionedplansasprovidedunderthelocallaws:Providedthat,intheabsenceofanylocallaw,conveyancedeedinfavouroftheallotteeortheassociationoftheallotteesorthecompetentauthority.asthecasemaybe.underthissectionshallbecarriedoutbythepromoterwithinthreemonthsfromdateofissueofoccupancycertificate.(2)Afterobtainingtheoccupancycertificateandhandingoverphysicalpossessiontotheallotteesintermsofsub—section(1).itshallbetheresponsibilityofthepromotertohand-overthenecessarydocumentsandplans.includingcommonareas.totheassociationoftheallotteesorthecompetentauthority,asthecasemaybe,asperthelocallaws:Providedthat,intheabsenceofanylocallaw,thepromotershallhandoverthenecessarydocumentsandplans,includingcommonareas,theassociationoftheallotteesorthecompetentauthority,asthecasemaybe,withinthiitydaysafterobtainingtheoccupancycertificate.Returnof 18.(1)Ifthepromoterfailstocompleteorisunabletogivepossessionofanapartment,amountandplotorbuilding.—compensation.(a)inaccordancewiththetermsoftheagreementforsaleor.asthecasemaybe,dulycompletedbythedatespecifiedtherein;or(b)duetodiscontinuanceofhisbusinessasadeveloperonaccountofsuspensionorrevocationoftheregistrationunderthisActorforanyotherreason.heshallbeliableondemandtotheallottees.incasetheallotteewishestowithdrawfromtheproject,withoutprejudicetoanyotherremedyavailable,toreturntheamountreceivedbyhiminrespectofthatapartment.plot,building.asthecasemaybe.withinterestatsuchrateasmaybeprescribedinthisbehalfincludingcompensationinthemannerasprovidedunderthisAct:Provided thatwhereanallotteedoesnotintendtowithdrawfromtheproject.heshallbepaid.bythepromoter.interestforeverymonthofdelay,tillthehandingoverofthepossession.atsuchrateasmaybeprescribed.(2)Thepromotershallcompensatetheallotteesincaseofanylosscausedtohimdue‘._"todefectivetitleoftheland.onwhichtheprojectisbeingdevelopedorhasbeendeveloped.'inthemannerasprovidedunderthisAct.andtheclaimforcompensationunderthissub-.,A.notbebarredbylimitationprovidedundermylawforthetimebeingiafm
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SEC.1] THEGAZETTEOFINDIAEXTRAORDINARY17A(3)Ifthepromoterwtodischargeanyotherobligationsimposedonhimunderthisctortherulesorregulationsmadethereunderorinaccordancewiththetermsandconditionsoftheagreementforsale,heshallbeliabletopaysuchcompensationtotheallottees,inthemannerasprovidedunderthisAct.CHAPTERIVRIGHTSANDDUTIESOFALLOTI'EES19.(I)Theallotteeshallbeentitledtoobtaintheinformationrelatingtosanctionedplans,layoutplansalongwiththespecifications,approvedbythecompetentauthorityandsuchotherinformationasprovidedinthisActor

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