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Penalties under the Real Estate (Regulation and Development) Act, 2016

Penalties for offences under the RERA act are:

  • Section 59 of the RERA Act titled as ‘Punishment for non-registration under section 3‘ of the act mentions that if the Promoter does not register his property the Penalty would be up to 10% of the project cost.
  • Section 63 of the RERA Act titled as ‘ Penalty for failure to comply with orders of Authority by promoter‘ of the act mentions that if the Promoter dodges order issued by the RERA the Penalty would be up to 5% of the estimated project cost.
  • Section 12 of the RERA Act titled as ‘Obligations of promoter regarding veracity of the advertisement or prospectus‘ of the act mentions that if a person has paid an advance or deposited a sum on the basis of false/misleading advertisement, then the promoter shall be liable to pay compensation and also if the person wants to withdraw the investment, he shall be returned the entire amount with interest according to the Act.
  • Section 61 of the RERA Act titled as ‘Penalty for contravention of other provisions of this Act’ of the act mentions that if the Promoter violates any other provision of the Act the Penalty would be up to 5% of the estimated project cost.
  • Section 65 of the RERA Act titled as ‘ Penalty for failure to comply with orders of Authority by real estate agent’ states that fine for the agents is calculated  per day during the period of violation of provision and can go upto 5% of the cost of project.

For more information on RERA Act and complaints under RERA act please write to us at info@ssrana.com or submit a query.

Read more about the regulations related to Real Estate Sector in India by clicking on the link below:

Real Estate Laws in India

Real Estate in India – FAQs

For more information please contact us at : info@ssrana.com