The Real Estate (Regulation and Development) Act, 2016 (RERA) has proposed heavy penalties on builders who will henceforth either delay their projects or won’t comply with RERA norms. According to the
RERA penalty for delay in possession rule,
the developer may be subject to a fine of up to 10% of the project’s expected cost, and up to three years in prison. The builder can face both if the project is not finished within the allotted time frame.
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The developer may be subject to a fine of up to 10% of the project's expected cost, and up to three years in prison. The builder can face both if the project is not finished within the allotted time frame.
Read More: What is possession delay penalty as per RERA?
What is delay penalty for interim RERA projects?
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2023-01-06T09:56:12+00:00 2024-01-03T09:43:47+00:00Comment
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