Section 18 – Real Estate (Regulation and Development) Act, 2016

Timelines for refund

(1) Any refund along with the applicable interest and
compensation, if any, payable by the promoter in terms of the provisions of section 18 of the Act
shall be payable by the promoter to the allottee within forty-five days from the date on which such
refund along with interest and compensation, if any, becomes due.
(2) In case the allottee proposes to withdraw from the project without any default of the
promoter, before the completion of project, the interest and time period for refund shall be
determined as per terms and conditions between the parties in agreement to sale.

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Practice area's of B K Goyal & Co LLP

Company Registration Services in major cities of India

Complete CA Services

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