Section 12 in Kerala Real Estate (Regulation and Development) Act, 2015
12. Compensation for loss.
- Where any person makes an advance or a deposit on the basis of the information contained in the advertisement being given by the promoter or prospectus or on the basis of any other written information and sustains any loss or damage by reason of any incorrect, false statement included therein, he shall be compensated by the promoter. in the manner, as provided under this Act:Provided that if the person affected by such incorrect, false statement contained in the advertisement, prospectus or any other records intends to withdraw from the proposed project, he shall be returned his entire investment along with interest at such rate, as may be prescribed.
