What is Penalty for failure to comply with orders of Authority by promoter under section 63 of The Real Estate (Regulation and Development Act, 2016). Penalty for failure to comply with orders of Authority by promoter is defined under Section 63 of the Act. Provisions under Section 63 are:
If any promoter, who fails to comply with, or contravenes any of the orders or directions of the Authority, he shall be liable to a penalty for every day during which such default continues, which may cumulatively extend up to five per cent., of the estimated cost of the real estate project as determined by the Authority.
The Real Estate (Regulation and Development) Act, 2016
Section 61 : Penalty for contravention of other provisions of this Act
Section 62 : Penalty for non registration and contravention under sections 9 and 10
Section 63 : Penalty for failure to comply with orders of Authority by promoter
Section 64 : Penalty for failure to comply with orders of Appellate Tribunal by promoter
Section 65 : Penalty for failure to comply with orders of Authority by real estate agent
Section 66 : Penalty for failure to comply with orders of Appellate Tribunal by real estate agent
Section 67 : Penalty for failure to comply with orders of Authority by allottee
Section 68 : Penalty for failure to comply with orders of Appellate Tribunal by allottee
Section 69 : Offences by companies
Section 70 : Compounding of offences
Section 71 : Power to adjudicate
Section 72 : Factors to be taken into account by the adjudicating officer
CHAPTER IX FINANCE, ACCOUNTS, AUDITS AND REPORTS
Section 73 : Grants and loans by Central Government
Section 74 : Grants and loans by State Government
Section 75 : Constitution of Fund
Section 77 : Budget accounts and audit
CHAPTER X MISCELLANEOUS
Section 79 : Bar of Jurisdiction