What is Penalty for failure to comply with orders of Appellate Tribunal by real estate agent under section 66 of The Real Estate (Regulation and Development Act, 2016). Penalty for failure to comply with orders of Appellate Tribunal by real estate agent is defined under Section 66 of the Act. Provisions under Section 66 are:
If any real estate agent, who fails to comply with, or contravenes any of the orders, decisions or directions of the Appellate Tribunal, he shall be punishable with imprisonment for a term which may extend up to one year or with fine for every day during which such default continues, which may cumulatively extend up to ten per cent of the estimated cost of plot, apartment or building, as the case may be, of the real estate project, for which the sale or purchase has been facilitated, or with both.
CHAPTER IX FINANCE, ACCOUNTS, AUDITS AND REPORTS
CHAPTER X MISCELLANEOUS