Amendment status not verified — confirm the current text below against the official source.
(1) Every person who has executed an agreement to take a flat shall pay at the proper time and place the price, his proportionate share of the municipal taxes, water and electricity charges, ground rent (if any) and other public charges in accordance with his agreement with the promoter; and where a co-operative society or a company of persons taking the flats is to be constituted, co-operate Guj. 22 of 1972. Refund of amount paid with interest for failure to give possession within specified time or further time allowed. No mortgage etc. to be created without consent of parties after execution of agreement for sale. Promoter to take steps for formation of cooperative society or company. Promoter to convey title, etc., and execute documents according to agreement. General liabilities of flat- taker. [ 1973 : Guj . 13 Gujarat Ownership Flats Act, 1973 in the formation of such society or Company as the case may be. (2) Any person who has executed an agreement to take a flat and who, without reasonable excuse, fails to comply with or contravenes the provisions of sub- section (1) shall, on conviction, be punished with fine which may extend to two thousand rupees.