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Section 62 - Real Estate (Regulation and Development) Act, 2016
62. Penalty for nonregistration and contravention under sections 9 and 10.-
If any real estate agent fails to comply with or contravenes the provisions of section 9 or section 10, he shall be liable to a penalty of ten thousand rupees for every day during which such default continues, which may cumulatively extend up to five per cent. of the 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 as determined by the Authority.
Related Sections
- Section 9: Registration of Real Estate Agents
- Section 8: Obligation of Authority Consequent upon Lapse of or on Revocation of Registration
- Section 15: Obligations of Promoter in Case of Transfer of a Real Estate Project to a Third Party
- Section 19: Rights and Duties of Allottees
- Section 66: Penalty for Failure to Comply with Orders of Appellate Tribunal by Real Estate Agent
Related Acts
* Only for reference.