Section 14(2) in Punjab Apartment and Property Regulation Act, 1995
(2)The authority referred to in sub-section (1) shall, after satisfying itself about the agreement of sale between the promoter and the allottee, and the compliance of the building regulations and all other formalities, issue an occupation certificate:[Provided that the promoter shall transfer free of cost the area under roads, open spaces, parks and sites meant for public utilities to the local authority or development authority, as the case may be, and this transfer would be exempted from stamp duty and any cess applicable.] [Added by Punjab Act No. 21 of 2014, dated 27.8.2014.]
