Developers have a legal obligation to disclose their financial statements to RERA periodically. Failure to disclose these statements, or providing incomplete financial data, can be deemed as negligence in performing their obligations. While specific…
Developers have a legal obligation to disclose their financial statements to RERA periodically. Failure to disclose these statements, or providing incomplete financial data, can be deemed as negligence in performing their obligations. While specific fines can vary, general non-compliance with RERA�s requests for data or information can lead to administrative penalties, and in severe cases, it can even lead to the developer being struck-off the Register. This ensures full financial transparency in the development sector.
This is general information from the website library. Confirm current rules, fees and property details with the relevant authority before acting.
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