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[Cites 0, Cited by 0] [Section 4(2)] [Section 4] [Entire Act]

State of Jammu-Kashmir - Subsection

Section 4(2)(l) in Jammu and Kashmir Real Estates (Regulation and Development) Act, 2018

(l)a declaration, supported by an affidavit, which shall be signed by the promoter or any person authorized by the promoter, stating:-
(i)that he has a legal title to the land on which the development is proposed along with legally valid documents with authentication of such title, if such land is owned by another person ;
(ii)that the land is free from all encumbrances, or as the case may be details of the encumbrances on such land including any rights, title, interest or name of any party in or over such land along with details ;
(iii)the time period within which he undertakes to complete the project or phase thereof, as the case may be ;
(iv)that seventy per cent of the amounts realized for the real estate project from the allottees, from time to time, shall be deposited in a separate account to be maintained in a scheduled bank to cover the cost of construction and the land cost and shall be used only for that purpose :-