Section 18: The RERA 2016

by | 13 Jul, 2019 | Rera Act

Home | Advice | Statute | Section 18: The RERA 2016

Section 18: Return of amount and compensation

(1) If the promoter fails to complete or is unable to give possession of an apartment, plot or building,-

(a) in accordance with the terms of the agreement for sale or, as the case may be, duly completed by the date specified therein; or

(b) due to discontinuance of his business as a developer on account of suspension or revocation of the registration under this Act or for any other reason, he shall be liable on demand to the allottees, in case the allottee wishes to withdraw from the project, without prejudice to any other remedy available, to return the amount received by him in respect of that apartment, plot, building, as the case may be, with interest at such rate as may be prescribed in this behalf including compensation in the manner as provided under this Act:

Provided that where an allottee does not intend to withdraw from the project, he shall be paid, by the promoter, interest for every month of delay, till the handing over of the possession, at such rate as may be prescribed.

(2) The promoter shall compensate the allottees in case of any loss caused to him due to defective title of the land, on which the project is being developed or has been developed, in the manner as provided under this Act, and the claim for compensation under this subsection shall not be barred by limitation provided under any law for the time being in force.

(3) If the promoter fails to discharge any other obligations imposed on him under this Act or the rules or regulations made thereunder or in accordance with the terms and conditions of the agreement for sale, he shall be liable to pay such compensation to the allottees, in the manner as provided under this Act.

Other advice you might like

Section 32: The RERA 2016

Section 32: Functions of Authority for promotion of real estate sector The Authority shall in order to facilitate the growth and promotion of a healthy, transparent, efficient and competitive real estate sector make recommendations to the appropriate Government or the...

Section 31 RERA 2016

Section 31 RERA: Filing of complaints with the Authority or the adjudicating officer Section 31 RERA: (1) Any aggrieved person may file a complaint with the Authority or the adjudicating officer, as the case may be, for any violation or contravention of the...

Section 30: The RERA 2016

Section 30: Vacancies, etc, not to invalidate proceeding of Authority No act or proceeding of the Authority shall be invalid merely by reason of- (a) any vacancy in, or any defect in the constitution of, the Authority; or (b) any defect in the appointment of a person...

Office

Spring Greens Apartment
Ayodhya Road
Lucknow

Contact

mail[at]kanoonirai.com
+91-91400-4[nine][six]54