Section 15 in Punjab Apartment and Property Regulation Act, 1995
15. [ Promoter to the execute documents. [Substituted by Punjab Act No. 21 of 2014, dated 27.8.2014.]
(1)After the occupation certificate is obtained under section 14, the promoter shall submit a copy thereof to the competent authority and thereafter he shall take all necessary steps to complete his title and convey the exclusive ownership of the apartment containing such particulars as may be prescribed and the undivided interest in the common areas and facilities appurtenant to such apartment to the person in whose favour he has executed an agreement of sale of that apartment, and execute a conveyance deed of apartment containing such particulars as may be prescribed and all other relevant documents therefor in accordance with such agreement, within three months from the date of giving possession of the apartment and also deliver all documents of title relating to the property which may be in his possession or power and the promoter shall not reserve any right in the property except to the extent of apartments which he is taking up in his own name and apartments which are meant for sale but are still unsold.(2)In the case of a plotted colony, after obtaining completion certificate from the competent authority, he shall take all necessary steps to execute a conveyance deed of plot in accordance with agreement of sale, within a period of three months from the date of giving possession of the plot and also deliver all documents of title relating to the property, which are in his possession and the promoter shall not reserve any right in the property except to the extent of plots, which he is taking up in his own name and plots, which are meant for sale but are still unsold.]
