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[Cites 0, Cited by 0] [Section 4] [Entire Act]

State of Bihar - Subsection

Section 4(5) in Bihar Real Estate (Regulation and Development) Rules, 2017

(5)For projects that are ongoing and have not received completion certificate, on the date of commencement of the Act, the promoter shall, within a period of three months of the application for registration of the project with the Authority, deposit in the separate bank account, seventy percent. of the amounts already realized from the allottee's, which have not been utilized for construction of the project or the land cost for the project as required under sub-clause (D) of clause (l) of sub-section (2) of section 4, which shall be used for the purposes specified therein.