Section 12 : Obligations of promoter regarding veracity of the advertisement or prospectus - The Real Estate (Regulation and Development) Act, 2016

What are the Obligations of promoter regarding veracity of the advertisement or prospectus under section 12 of The Real Estate (Regulation and Development Act, 2016). Obligations of promoter regarding veracity of the advertisement or prospectus is defined under Section 12 of the Act. Provisions under Section 12 are:

Section 12 "Obligations of promoter regarding veracity of the advertisement or prospectus" - The Real Estate (Regulation and Development Act, 2016)

Where any person makes an advance or a deposit on the basis of the information contained in the notice advertisement or prospectus, or on the basis of any model apartment, plot or building, as the case may be, and sustains any loss or damage by reason of any incorrect, false statement included therein, he shall be compensated by the promoter in the manner as provided under this Act:

Provided that if the person affected by such incorrect, false statement contained in the notice, advertisement or prospectus, or the model apartment, plot or building, as the case may be, intends to withdraw from the proposed project, he shall be returned his entire investment along with interest at such rate as may be prescribed and the compensation in the manner provided under this Act.