tweaker Posted May 20, 2017 Share Posted May 20, 2017 The Union Ministry Of Housing And Urban Poverty Alleviation issued a notification announcing that sections of the Real Estate Act, 2016, shall come into force on May 1, 2017. It deal with registration of real estate project and registration of real estate agents, functions and duties of promoter and allottee. Every real estate project will have to be mandatorily registered with the Real Estate Regulatory Authority. It states that interest or penalty or compensation imposed on a promoter or an allottee or a real estate agent by the adjudicating officer or the Regulatory Authority or the appellate authority can be recovered from such promoter or allottee or real estate agent as arrears of land revenue. The Act deal with offences and penalties. Contravention of the orders or directions of the authority by promoters, real estate agents have been made punishable with fine, and in some cases, with punishment also. The court shall not take cognizance of any offence punishable under this Act or the rules or regulations made thereunder, except on a complaint in writing made by the authority. Link to comment Share on other sites More sharing options...
tweaker Posted May 20, 2017 Author Share Posted May 20, 2017 The provisions relate to functions and duties of promoters, rights and duties of allottees, prior registration of real estate projects with the Real Estate Regulatory Authority, recovery of interest on penalties, enforcement of orders, offences, penalties and adjudication, taking cognizance of offences etc . Link to comment Share on other sites More sharing options...
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