Section 15(1) in The M.P. Prakoshtha Swamitva Adhiniyam, 2000
(1)If the promoter or the apartment owner as the case may be fails to execute a deed of apartment or an endorsement thereon under sub-section (1) or (4) of Section 14 within three months, or does not comply with sub-section (3) or (4) of Section 14 within three months of the execution of the deed of apartment or the endorsement thereon or with sub-section (1) of Section 12 within three months of the dale on which possession of the apartment is given or, where the Competent Authority or Government has granted extension of time under the first proviso to sub-section (1) of Section 14 within such extended period the Competent Authority may either on a competent or suo motu, impose a penalty upto a maximum of five thousand rupees or five percent of the price of the apartment whichever is greater for each apartment for which there is a default together with a further minimum penalty for each apartment of one hundred rupees for every day for which the default together with a further minimum penalty for each apartment of one hundred rupees for every' day for which the default continues and the penalty may be recovered as an arrear of land revenue. This penalty shall be in addition to any action under the Stamp Act, 1899 (No. 2 of 1899) or the Registration Act, 1908 (No. 16 of 1908). If such penalty is imposed, no penalty shall be imposed for the same reason under any other enactment :Provided that it will be incumbent on the promoter to execute the sub-lease only after the lease is executed in his favour, but the deed of apartment will have to be executed without waiting for the execution of the lease, as envisaged by the third proviso to sub-section (1) of Section 14.
