Indian_Real_Estate_Law (2)
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Indian_Real_Estate_Law (2)

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Indian Real Estate Lawsvi1.5.11 Filing of complaints with the Authority or the adjudicating officer. . . . . 201.5.12 Functions of Authority for promotion of real estate sector . . . . . . . . . 201.5.13 Advocacy and awareness measures . . . . . . . . . . . . . . . . . . . . . 211.5.14 Functions of Authority . . . . . . . . . . . . . . . . . . . . . . . . . . . . 211.5.15 Powers of Authority to call for information, conduct investigations . . . . 211.5.16 Power to issue interim orders . . . . . . . . . . . . . . . . . . . . . . . . 221.5.17 Powers of Authority to issue directions . . . . . . . . . . . . . . . . . . . 221.5.18 Powers of Authority . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 221.5.19 Rectification of orders . . . . . . . . . . . . . . . . . . . . . . . . . . . . 221.5.20 Recovery of interest or penalty or compensation and enforcement of order,etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 231.6 CHAPTER VI CENTRAL ADVISORY COUNCIL . . . . . . . . . . . . . . . . 231.6.1 Establishment of Central Advisory Council . . . . . . . . . . . . . . . . . 231.6.2 Functions of Central Advisory Council . . . . . . . . . . . . . . . . . . . 231.7 CHAPTER VII Tue REAL Estate APPELLATE TRIBUNAL . . . . . . . . . . 231.7.1 Establishment of Real Estate Appellate Tribunal . . . . . . . . . . . . . 231.7.2 Application for settlement of disputes and appeals to Appellate Tribunal 241.7.3 Composition of Appellate Tribunal . . . . . . . . . . . . . . . . . . . . . 251.7.4 Qualifications for appointment of Chairperson and Members . . . . . . . 251.7.5 Term of office of Chairperson and Members . . . . . . . . . . . . . . . . 251.7.6 Salary and allowances payable to Chairperson and Members . . . . . . . 251.7.7 Removal of Chairperson and Member from office in certain circumstances 261.7.8 Restrictions on Chairperson or Judicial Member or Technical or AdministrativeMember on employment after cessation of office . . . . . . . . . 261.7.9 Officers and other employees of Appellate Tribunal . . . . . . . . . . . . 271.7.10 Vacancies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 271.7.11 Powers of Tribunal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 271.7.12 Administrative powers of Chairperson of Appellate Tribunal . . . . . . . 271.7.13 Vacancies, etc., not to invalidate proceeding of Appellate Tribunal . . . . 271.7.14 Right to legal representation . . . . . . . . . . . . . . . . . . . . . . . . . 281.7.15 Orders passed by Appellate Tribunal to be executable as a decree . . . . 281.7.16 Appeal to High Court . . . . . . . . . . . . . . . . . . . . . . . . . . . . 281.8 CHAPTER VIII OFFENCES, PENALTIES AND ADJUDICATION . . . . . . 291.8.1 Punishment for nonregistration under section 3 . . . . . . . . . . . . . . 291.8.2 Penalty for contravention of section 4 . . . . . . . . . . . . . . . . . . . . 291.8.3 Penalty for contravention of other provisions of this Act . . . . . . . . . . 291.8.4 Penalty for nonregistration and contravention under sections 9 and 10 . . 291.8.5 Penalty for failure to comply with orders of Authority by promoter . . . 291.8.6 Penalty for failure to comply with orders of Appellate Tribunal by promoter 291.8.7 Penalty for failure to comply with orders of Authority by real estate agent 291.8.8 Penalty for failure to comply with orders of Appellate Tribunal by realestate agent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 301.8.9 Penalty for failure to comply with orders of Authority by allottee . . . . 301.8.10 Penalty for failure to comply with orders of Appellate Tribunal by allottee 301.8.11 Offences by companies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 301.8.12 Compounding of offences . . . . . . . . . . . . . . . . . . . . . . . . . . . 301.8.13 Power to adjudicate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 311.8.14 Factors to be taken into account by the adjudicating officer . . . . . . . . 311.9 CHAPTER IX FINANCE, ACCOUNTS, AUDITS AND REPORTS . . . . . . . 311.9.1 Grants and loans by Central Government . . . . . . . . . . . . . . . . . . 310.0 CONTENTS

viiIndian Real Estate Laws1.9.2 Grants and loans by State Government . . . . . . . . . . . . . . . . . . . 311.9.3 Constitution of Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 321.9.4 Crediting sums realised by way of penalties to Consolidated Fund of Indiaor State account . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 321.9.5 Budget, accounts and audit . . . . . . . . . . . . . . . . . . . . . . . . . 321.9.6 Annual report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 321.10 CHAPTER X MISCELLANEOUS . . . . . . . . . . . . . . . . . . . . . . . . . 331.10.1 Bar of jurisdiction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 331.10.2 Cognizance of offences . . . . . . . . . . . . . . . . . . . . . . . . . . . . 331.10.3 Delegation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 331.10.4 Power of appropriate Government to supersede Authority . . . . . . . . . 331.10.5 Powers of appropriate Government to issue directions to Authority andobtain reports and returns . . . . . . . . . . . . . . . . . . . . . . . . . . 341.10.6 Power of appropriate Government to make rules . . . . . . . . . . . . . . 341.10.7 Power to make regulations . . . . . . . . . . . . . . . . . . . . . . . . . . 351.10.8 Laying of rules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 361.10.9 Members, etc. to be public servants . . . . . . . . . . . . . . . . . . . . . 361.10.10 Application of other laws not barred . . . . . . . . . . . . . . . . . . . . 361.10.11 Act to have overriding effect . . . . . . . . . . . . . . . . . . . . . . . . . 361.10.12 Protection of action taken in good faith . . . . . . . . . . . . . . . . . . . 361.10.13 Power to remove difficulties . . . . . . . . . . . . . . . . . . . . . . . . . 361.10.14 Maharashtra Act No. II of 2014 . . . . . . . . . . . . . . . . . . . . . . . 372 RERA Karnataka Rules 2017 392.1 CHAPTER I PRELIMINARY . . . . . . . . . . . . . . . . . . . . . . . . . . . 392.1.1 Title and Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . 392.1.2 Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 392.2 CHAPTER II REAL ESTATE PROJECT . . . . . . . . . . . . . . . . . . . . . 392.2.1 Information and documents to be furnished by the promoter for registrationof project . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 392.2.2 Additional disclosure by promoters of ongoing projects . . . . . . . . . . 412.2.3 Withdrawal of sums deposited in separate bank account . . . . . . . . . 422.2.4 Grant or rejection of registration of the project . . . . . . . . . . . . . . 422.2.5 Extension of registration of project . . . . . . . . . . . . . . . . . . . . . 422.2.6 Revocation of registration of the project . . . . . . . . . . . . . . . . . . 432.3 CHAPTER III REAL ESTATE AGENT . . . . . . . . . . . . . . . . . . . . . . 432.3.1 Application for registration by the real estate agent . . . . . . . . . . . . 432.3.2 Grant of Registration to the real estate agent . . . . . . . . . . . . . . . 432.3.3 Renewal of registration of real estate agent . . . . . . . . . . . . . . . . 432.3.4 Revocation of registration of real estate agent . . . . . . . . . . . . . . . 442.3.5 Maintenance and preservation of books of accounts, records and documents 442.3.6 Other functions of a real estate agent . . . . . . . . . . . . . . . . . . . . 442.4 CHAPTER IV DETAILS TO BE PUBLISHED ON THE WEBSITE OF THEAUTHORITY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 442.4.1 Details to be published on the website . . . . . . . . . . . . . . . . . . . 442.5 CHAPTER V RATE OF INTEREST PAYABLE BY PROMOTER AND AL-LOTTEE AND TIMELINES FOR REFUND . . . . . . . . . . . . . . . . . . . 472.5.1 Rate of interest payable by the promoter and the allottee . . . . . . . . . 472.5.2 Timelines for refund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 472.6 CHAPTER VI REAL ESTATE REGULATORY AUTHORITY . . . . . . . . . 48CONTENTS 0.0

Indian Real Estate Laws

vi

1.5.11 Filing of complaints with the Authority or the adjudicating officer. . . . . 20

1.5.12 Functions of Authority for promotion of real estate sector . . . . . . . . . 20

1.5.13 Advocacy and awareness measures . . . . . . . . . . . . . . . . . . . . . 21

1.5.14 Functions of Authority . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21

1.5.15 Powers of Authority to call for information, conduct investigations . . . . 21

1.5.16 Power to issue interim orders . . . . . . . . . . . . . . . . . . . . . . . . 22

1.5.17 Powers of Authority to issue directions . . . . . . . . . . . . . . . . . . . 22

1.5.18 Powers of Authority . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

1.5.19 Rectification of orders . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

1.5.20 Recovery of interest or penalty or compensation and enforcement of order,

etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

1.6 CHAPTER VI CENTRAL ADVISORY COUNCIL . . . . . . . . . . . . . . . . 23

1.6.1 Establishment of Central Advisory Council . . . . . . . . . . . . . . . . . 23

1.6.2 Functions of Central Advisory Council . . . . . . . . . . . . . . . . . . . 23

1.7 CHAPTER VII Tue REAL Estate APPELLATE TRIBUNAL . . . . . . . . . . 23

1.7.1 Establishment of Real Estate Appellate Tribunal . . . . . . . . . . . . . 23

1.7.2 Application for settlement of disputes and appeals to Appellate Tribunal 24

1.7.3 Composition of Appellate Tribunal . . . . . . . . . . . . . . . . . . . . . 25

1.7.4 Qualifications for appointment of Chairperson and Members . . . . . . . 25

1.7.5 Term of office of Chairperson and Members . . . . . . . . . . . . . . . . 25

1.7.6 Salary and allowances payable to Chairperson and Members . . . . . . . 25

1.7.7 Removal of Chairperson and Member from office in certain circumstances 26

1.7.8 Restrictions on Chairperson or Judicial Member or Technical or Administrative

Member on employment after cessation of office . . . . . . . . . 26

1.7.9 Officers and other employees of Appellate Tribunal . . . . . . . . . . . . 27

1.7.10 Vacancies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27

1.7.11 Powers of Tribunal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27

1.7.12 Administrative powers of Chairperson of Appellate Tribunal . . . . . . . 27

1.7.13 Vacancies, etc., not to invalidate proceeding of Appellate Tribunal . . . . 27

1.7.14 Right to legal representation . . . . . . . . . . . . . . . . . . . . . . . . . 28

1.7.15 Orders passed by Appellate Tribunal to be executable as a decree . . . . 28

1.7.16 Appeal to High Court . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28

1.8 CHAPTER VIII OFFENCES, PENALTIES AND ADJUDICATION . . . . . . 29

1.8.1 Punishment for nonregistration under section 3 . . . . . . . . . . . . . . 29

1.8.2 Penalty for contravention of section 4 . . . . . . . . . . . . . . . . . . . . 29

1.8.3 Penalty for contravention of other provisions of this Act . . . . . . . . . . 29

1.8.4 Penalty for nonregistration and contravention under sections 9 and 10 . . 29

1.8.5 Penalty for failure to comply with orders of Authority by promoter . . . 29

1.8.6 Penalty for failure to comply with orders of Appellate Tribunal by promoter 29

1.8.7 Penalty for failure to comply with orders of Authority by real estate agent 29

1.8.8 Penalty for failure to comply with orders of Appellate Tribunal by real

estate agent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30

1.8.9 Penalty for failure to comply with orders of Authority by allottee . . . . 30

1.8.10 Penalty for failure to comply with orders of Appellate Tribunal by allottee 30

1.8.11 Offences by companies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30

1.8.12 Compounding of offences . . . . . . . . . . . . . . . . . . . . . . . . . . . 30

1.8.13 Power to adjudicate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31

1.8.14 Factors to be taken into account by the adjudicating officer . . . . . . . . 31

1.9 CHAPTER IX FINANCE, ACCOUNTS, AUDITS AND REPORTS . . . . . . . 31

1.9.1 Grants and loans by Central Government . . . . . . . . . . . . . . . . . . 31

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