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[Cites 0, Cited by 0] [Section 21] [Entire Act]

State of Bihar - Subsection

Section 21(1) in The Bihar Apartment Ownership Act, 2006

(1)If the Promoter of the Apartment as the case may be, fails to execute a Deed of Apartment or an endorsement thereon, within six months of the date on which possession of the Apartment is given or where the competent authority or the State Government has granted extension of period, on expiry of such extended period, the competent authority may either on a complaint or suo motu impose a penalty up-to maximum of Rs. two thousand five hundred per Apartment and also may impose minimum penalty for each Apartment of fifty rupees for every day subject to maximum of Rs. Twenty Thousand if the default continues, and the penalty may be recovered as arrears of land revenue. This penalty shall be in addition to any action under the Stamp Act or Registration Act, 1908.