Amendment status not verified — confirm the current text below against the official source.
Enforcement of Transfer .- (1) If the Promoter of the Apartment(Flat) as the case may be, fails to execute a deed of Apartment(Flat) or an endorsement thereon, within six months of the date on which possession of the Apartment(Flat) is given or where the competent authority or the State Government has granted extension of period(not more than 06 months), on expiry of such extended period, the competent authority may either on a complaint or suo moto impose a penalty up-to maximum of Fifty thousand per Apartment(Flat) and also may impose minimum penalty for each Apartment(Flat) of thousand rupees for every day and the penalty may be recovered as arrears of >kj[k.M xtV ¼vlk/kkj.k½] o`gLifrokj 2 Qjojh] 2012 40 land revenue. This penalty shall be in addition to any action under the Stamp Act or Registration Act 1908. (2) On the failure of the Promoter to execute the Deed of Apartment(Flat) within the time stated above in sub-section (1) the allottee may make an application to the competent Authority. (3) On the failure of the Apartment(Flat) owner to make an endorsement of the transfer of an Apartment(Flat) on the Deed of Apartment(Flat) within the time agreed upon, the Promoter may make an application to the competent Authority. (4) The application under sub-section (2) and (3) as the case may be, shall be given in prescribed form in writing in the office of the competent authority of the area for certificate to be produced before the Registration officer for enforcing the registration of the transfer. After making such enquiry as may be necessary and satisfying itself that the applicant has done what he is required to do under the agreement, the competent Authority shall issue a certificate to the concerned Registration Officer within a period of two month from the date of application that it is a fit case for enforcing registration and shall further direct the applicant to present the Deed of Apartment(Flat) though not executed by the other party, for unilateral execution & registration. The registering Authority shall register the instrument. Notwithstanding anything contained in The Transfer of Property Act, 1882 or the Registration Act, the registration of the instrument made under this section shall be sufficient to vest the property with the applicant. Service charges of Rs. Five thousand along with each application shall be charged by the competent authority whoever is defaulter i.e., Promoter/ Owner/ Allottee.