Section 64 of the Real Estate (Regulation and Development) Act, 2016, deals with penalties for contravention of the provisions of the Act. This section specifies that if any promoter, real estate agent, or any person contravenes any provisions of the Act, or the rules or regulations made thereunder, they shall be liable to such penalties as prescribed.The Act further elaborates on these penalties. Providing false information or contravening provisions related to registration of a real estate project can lead to: 1. Fine A monetary penalty, which can be up to 5% of the estimated cost of the real estate project if the contravention is by a promoter. 2. Cancellation of registration The Authority has the power to cancel the registration of a real estate project if there are violations. 3. Imprisonment In cases of more serious offenses, imprisonment can be awarded, which, as per other sections of the Act (e.g., Section 64(3)), can be up to three years for certain contraventions by promoters.Since the question asks for "penalty for providing any false information or contravening the provisions of applying registration of the real estate project," and all the given options (Fine up to 5% of project cost, Cancellation of project, Imprisonment up to 3 yrs) are indeed potential penalties under the Act for such contraventions, "All of the above" is the correct comprehensive answer.
What is the penalty for providing any false information or contravening the provisions of applying registration of the real estate project?
Asked in Paper I 6 · Topic: The Parliamentary Act (Powers and Functions of Parliament (Legislative, Executive, Financial, Constituent))
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