Real Estate (Regulation and Development) Act, 2016

Salary and allowances payable and other terms and conditions of service of Chairperson and Members of the Authority (1) The Chairperson and whole-time Members ofthe Authority shall be paid such salary and allowances as may be fixed by the State Government,from time to time, but if the Chairperson or a Member so appointed is or […]

Manner of selection of Chairperson and Members of the Authority (1) As and whenvacancies of Chairperson or a Member in the Authority exist or arise or are likely to arise, theState Government may make a reference to the Selection Committee in respect of the vacancies tobe filled.(2) The Selection Committee may, for the purpose of

Timelines for refund (1) Any refund along with the applicable interest andcompensation, if any, payable by the promoter in terms of the provisions of section 18 of the Actshall be payable by the promoter to the allottee within forty-five days from the date on which suchrefund along with interest and compensation, if any, becomes due.(2)

Rate of interest payable by the promoter and the allottee The rate of interest payable by the promoter to the allottee or by the allottee to the promoter, as the case may be, shall be the State Bank of India highest marginal cost of lending rate plus two percent:Provided that in case the State Bank

Details to be published on the website – (1) For the purpose of clause (b) of section 34,the Authority shall ensure that the following information shall be made available on its website inrespect of each project registered under the Act, namely:-(A) Details of the promoter including the following:-(i) Developer or Group Profile:(a) a brief detail

Other functions of a real estate agent The real estate agent shall provide assistance to enable the allottee and promoter to exercise their respective rights and fulfil their respective obligations at the time of booking and sale of any plot, apartment or building, as the case may be. Practice area’s of B K Goyal &

Maintenance and preservation of books of accounts, records and documents The real estate agent shall maintain and preserve books of account, records and documents in accordance with the provisions of the Income Tax Act, 1961. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax

Revocation of Registration of real estate agent The Authority may, due to reasons specified under sub-section (7) of section 9, revoke the registration granted to the real estate agent or renewal thereof, as the case may be, and intimate the real estate agent of such revocation inForm-J. Practice area’s of B K Goyal & Co

Renewal of registration of real estate agent – (1) The registration granted under section9 may be renewed, on an application made by the real estate agent in Form-K which shall not beless than three months prior to the expiry of the registration granted.(2) The application for renewal of registration shall be accompanied with a demand

Grant of Registration to the real estate agent (1) Upon the registration of a real estateagent as per section 9 read with rule 10, the Authority shall issue a registration certificate with aregistration number in Form-I to the real estate agent.(2) In case of rejection of the application as per section 9 the Authority shall