# The Real Estate (Regulation & Development) Act, 2016, Section 12

- Act: The Real Estate (Regulation & Development) Act, 2016 (Act 16 of 2016)
- Source URL: https://indiacode.ecourtsindia.com/real-estate-regulation-development-act-2016-jharkhand/section/12/

## Text

Where any person makes an advance or a deposit on the basis of the information contained in the notice advertisement or prospectus, or on the basis of any model apartment, plot or building, as the case may be, and sustains any loss or damage by reason of any incorrect, false statement included therein, he shall be compensated by the promoter in the manner as provided under this Act: Obligations of promoter regarding veracity of the advertisement or prospectus. Provided that if the person affected by such incorrect, false statement contained in the notice, advertisement or prospectus, or the model apartment, plot or building, as the case may be, intends to withdraw from the proposed project, he shall be returned his entire investment along with interest at such rate as may be prescribed and the compensation in the manner provided under this Act. No deposit or advance to be taken by promoter without first entering into agreement for sale.

---
Published by eCourtsIndia together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957.