Indian_Real_Estate_Law (2)

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Indian Real Estate Laws
1.9.2 Grants and loans by State Government . . . . . . . . . . . . . . . . . . . 31
1.9.3 Constitution of Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
1.9.4 Crediting sums realised by way of penalties to Consolidated Fund of India
or State account . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
1.9.5 Budget, accounts and audit . . . . . . . . . . . . . . . . . . . . . . . . . 32
1.9.6 Annual report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
1.10 CHAPTER X MISCELLANEOUS . . . . . . . . . . . . . . . . . . . . . . . . . 33
1.10.1 Bar of jurisdiction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
1.10.2 Cognizance of offences . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
1.10.3 Delegation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
1.10.4 Power of appropriate Government to supersede Authority . . . . . . . . . 33
1.10.5 Powers of appropriate Government to issue directions to Authority and
obtain reports and returns . . . . . . . . . . . . . . . . . . . . . . . . . . 34
1.10.6 Power of appropriate Government to make rules . . . . . . . . . . . . . . 34
1.10.7 Power to make regulations . . . . . . . . . . . . . . . . . . . . . . . . . . 35
1.10.8 Laying of rules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36
1.10.9 Members, etc. to be public servants . . . . . . . . . . . . . . . . . . . . . 36
1.10.10 Application of other laws not barred . . . . . . . . . . . . . . . . . . . . 36
1.10.11 Act to have overriding effect . . . . . . . . . . . . . . . . . . . . . . . . . 36
1.10.12 Protection of action taken in good faith . . . . . . . . . . . . . . . . . . . 36
1.10.13 Power to remove difficulties . . . . . . . . . . . . . . . . . . . . . . . . . 36
1.10.14 Maharashtra Act No. II of 2014 . . . . . . . . . . . . . . . . . . . . . . . 37
2 RERA Karnataka Rules 2017 39
2.1 CHAPTER I PRELIMINARY . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
2.1.1 Title and Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . 39
2.1.2 Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
2.2 CHAPTER II REAL ESTATE PROJECT . . . . . . . . . . . . . . . . . . . . . 39
2.2.1 Information and documents to be furnished by the promoter for registration
of project . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
2.2.2 Additional disclosure by promoters of ongoing projects . . . . . . . . . . 41
2.2.3 Withdrawal of sums deposited in separate bank account . . . . . . . . . 42
2.2.4 Grant or rejection of registration of the project . . . . . . . . . . . . . . 42
2.2.5 Extension of registration of project . . . . . . . . . . . . . . . . . . . . . 42
2.2.6 Revocation of registration of the project . . . . . . . . . . . . . . . . . . 43
2.3 CHAPTER III REAL ESTATE AGENT . . . . . . . . . . . . . . . . . . . . . . 43
2.3.1 Application for registration by the real estate agent . . . . . . . . . . . . 43
2.3.2 Grant of Registration to the real estate agent . . . . . . . . . . . . . . . 43
2.3.3 Renewal of registration of real estate agent . . . . . . . . . . . . . . . . 43
2.3.4 Revocation of registration of real estate agent . . . . . . . . . . . . . . . 44
2.3.5 Maintenance and preservation of books of accounts, records and documents 44
2.3.6 Other functions of a real estate agent . . . . . . . . . . . . . . . . . . . . 44
2.4 CHAPTER IV DETAILS TO BE PUBLISHED ON THE WEBSITE OF THE
AUTHORITY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44
2.4.1 Details to be published on the website . . . . . . . . . . . . . . . . . . . 44
2.5 CHAPTER V RATE OF INTEREST PAYABLE BY PROMOTER AND AL-
LOTTEE AND TIMELINES FOR REFUND . . . . . . . . . . . . . . . . . . . 47
2.5.1 Rate of interest payable by the promoter and the allottee . . . . . . . . . 47
2.5.2 Timelines for refund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47
2.6 CHAPTER VI REAL ESTATE REGULATORY AUTHORITY . . . . . . . . . 48
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