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[Cites 0, Cited by 0] [Section 11] [Entire Act]

State of Maharashtra - Subsection

Section 11(1) in Maharashtra Housing (Regulation And Development) Act, 2012

(1)When any person makes an advance or a deposit on the basis of the information contained in the advertisement or prospectus and sustains any loss or damage by reason of any wilful untrue statement included therein, then he shall be compensated by the promoter for any loss that he may have sustained consequent to such information:Provided that, if the person affected on account of such wilful untrue statement, withdraws from the project, the entire amount paid by such person shall be returned to him along with interest at the prescribed rate but not exceeding fifteen per cent., per annum.