The Real Estate (Regulation and Development) Act, 2016. (2016)

2 · In this Act. unless the context otherwise requires,—

20 · of 1972.

18 · of 2013.

9 · of 1932. 6 °f 2009-

1 · occupation of any building, as provided under local laws, which has provrsron for c1v1c infrastructure such as water, sanitation and electricity;

31 · . It ..| !

2 · of 1934.

5 · (I) On recipt of the application under sub—section (1) of section 4, the Authority shall within a period of thirty days.

6 · The registration granted under section 5 may be extended by the Authority on an application made by the promoter due toforce majeure, in such form and on payment of such fee as may be specified by regulations made by the Authority:

7 · (1) The Authority may, on receipt of a complaint or suo mom in this behalf or on the recommendation ofthe competent authority, revoke the registration granted under section 5, after being satisfied that—

8 · Upon lapse of the registration or on revocation of the registration under this Act, the Authority, may consult the appropriate Government to take such action as it may deem fit including the carrying out of the remaining development works by competent authority or by the association of allottees or in any other manner, as may be determined by the Authority:

9 · (I) No real estate agent shall facilitate the sale or purchase of or act on behalf of any p son to facilitate the sale or purchase of any plot, apartment or building, as the case may bait a remstate pr0ject orp'afififit, being the part ofthe real estate project registeredfirder section 3, being sold by the promoter in any planning area, without obtaining registration under this section.

10 · Every real estate agent registered under section 9 shall—

12 · Where any person makes an advance or a deposit on the basis of the information contained in the notice advertisement or prospectus, or on the basis of any model apartment, plot or building, as the case may be, and sustains any loss or damage by reason of any incorrect, false statement included therein, he shall be compensated by the promoter in the manner as provided under this Act:

13 · (I) A promoter shall not accept a sum more than ten per cent of the cost of the apartment. plot, or building as the case may be, as an advance payment or an application fee, from a person without first entering into a written agreement for sale with such person and register the said agreement for sale, under any law for the time being in force.

19 · (I) The allottee shall be entitled to obtain the information relating to sanctioned g

18 · of 2013.

25 · The Chairperson shall have powers of general superintendence and directions in

27 · (1) The Chairperson or a Member. ceasing to hold office as such, shall not—

33 · (I) The appropriate Government may, while formulating a policy on real estate sector (including review of laws related to real estate sector) or any other matter, make a reference to the Authority for its opinion on possible effect, of such policy or law on real estate sector and on the receipt of such a reference, the Authority shall within a period of sixty days of making such reference, give its opinion to the appropriate Government which may therafter take further action as it deems fit.

34 · The functions of the Authority shall include—

35 · (I) Where the Authority considers it expedient to do so. on a complaint or sun mom. relating to this Act or the rules of regulations made thereunder, it may, by order in writing and recording reasons therefor call upon any promoter or allottee or real estate agent, as the case may be, at any time to furnish in writing such information or explanation relating to its affairs as the Authority may require and appoint one or more persons to make an inquiry in relation to the affairs of any promoter or allottee or the real estate agent, as the case 3""

37 · The Authority may, for the purpose ofdischarging its functions underthe provisions of this Act or rules or regulations made thereunder, issue such directions from time to time, to the promoters or allottees or real estate agents, as the case may be, as it may consider necessary and such directions shall be binding on all concerned.

38 · (I) The Authority shall have powers to impose penalty or interest, in regard to any contravention of obligations cast upon the promoters, the allottees and the real estate agents, under this Act or the mics and the regulations made thereunder.

39 · The Authority may, at any time within a period of two years from the date of the order made under this Act, with a view to rectifying any mistake apparent from the record, amend any order passed by it. and shall make such amendment, ifthe mistake is brought to its notice by the parties:

5 · or m.

42 · (I) The functions ofthe Central Advisory Council shall be to advise and recommend the Central Govemment,—

1 · di (b) in the case of a Judicial Member he has held ajudicial office in the territory of n j

50 · (l) The Chairperson or Judicial Member or Technical or Administrative Member, ceasing to hold office as such shall not:—

18 · of 2013.

45 · of 1860. 2 of 1974.

54 · The Chairperson shall have powers of general superintendence and direction in the conduct of the affairs ofAppellate Tribunal and he shall, in addition to presiding over the

0 · ??? f

8 · or company secretaries or cost accountants or legal practitioners or any of its _

57 · (1) Every order made by the Appellate Tribunal under this Act shall be executable by the Appellate Tribunal as a decree of civil court, and for this purpose,

58 · (1) Any person aggrieved by any decision

59 · (I) If any promoter contravenes the provisions of section 3. he shall be liable to a penalty which may extend up to ten per cent. of the estimated cost of the real estate project

38 · of 1949.

56 · of 1980.

23 · of 1959,

5 · of [903.

1 · (1) For the purpose of adjudging compensation under sections 12, 14,

19 · , the Authority shall appoint in consultation with the appropriate

2 · of 1974-

68 · of 1986.

35 · clause (iv) of sub-section (2) of section 35;

40 · section 40; direction or decisions of the b

42 · -

44 · . ()

44 · ; manner and fee for filhng 0f appeal under sub-section (2) of

6 · section 6;

7 · ‘/

45 · of 1860.

1 · 3*