Section 64
Penalty for failure to comply with orders of Appellate Tribunal by promoter.
The Real Estate (Regulation and Development) Act, 2016.
About this Act
An Act to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sector and to ensure sale of plot, apartment or building, as the case may be, or sale of real estate project, in an efficient and transparent manner and to protect the interest of consumers in the real estate sector and to establish an adjudicating mechanism for speedy dispute redressal and also to establish the Appellate Tribunal to hear appeals from the decisions, directions or orders of the Real Estate Regulatory Authority and the adjudicating officer and for matters connected therewith or incidental thereto.
If any
promoter, who fails to comply with, or contravenes any of the orders, decisions or directions of the Appellate Tribunal, he shall be punishable with imprisonment for a term which may extend up to three
years or with fine for every day during which such default continues, which may cumulatively extend up
to ten per cent. of the estimated cost of the real estate project, or with both.