CHAPTER VIII - OFFENCES, PENALTIES AND ADJUDICATION

An Act to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sector and to ensure sale of plot, apartment or building, as the case may be, or sale of real estate project, in an efficient and transparent manner and to protect the interest of consumers in the real estate sector and to establish an adjudicating mechanism for speedy dispute redressal and also to establish the Appellate Tribunal to hear appeals from the decisions, directions or orders of the Real Estate Regulatory Authority and the adjudicating officer and for matters connected therewith or incidental thereto.

Section 61 - Penalty for contravention of other provisions of this Act

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If any promoter contravenes any other provisions of this Act, other than that provided under section 3 or section 4, or the rules or regulations made hereunder, 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

 

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