Amendment status not verified — confirm the current text below against the official source.
(1) If any promoter contravenes the provisions of section 3, he shall be liable to a penalty which may extend upto ten per cent, of the estimated cost of the real estate project as determined by the Authority. (2) If any promoter does not comply with the orders, decisions or directions issued under sub-section (1) or continues to violate the provisions of section 3, he shall be punishable with imprisonment for a term which may extend up to three years or with fine which may extend upto a further ten per cent, of the estimated cost of the real estate project, or with both.