Rights and duties of promoters and allottees, and project registration requirements
Section 4 requires an application with PAN, project particulars, sanctioned plans, commencement certificate, title and encumbrance details, declaration and fee; Section 5 requires the Authority to grant registration, or reject with reasons, within 30 days. The registration number must appear in every advertisement (Section 11). Seventy per cent of realisations go into a separate account, and the promoter must keep the project updated on the website quarterly until completion.
Promoter duties: s.11 - full disclosure, a written registered agreement for sale, obtaining the completion or occupancy certificate, no mortgage or charge without allottee consent, and refund with interest where the project cannot be completed; s.12 - prospectus and advertisements must be truthful, else the allottee may withdraw and claim refund with interest; s.13 - not more than 10% of the consideration may be accepted before the agreement for sale is executed and registered; s.14 - build strictly per sanctioned plans, no addition or alteration without consent of two-thirds of allottees, and rectify any structural defect or defect in workmanship, quality or services noticed within five years of handing over possession, free of charge, within 30 days; s.15 - transfer of the project needs prior written consent of two-thirds of allottees and prior approval of the Authority; s.17 - registered conveyance deed within three months of the occupancy certificate; s.18 - on delayed possession, pay interest or refund as the allottee elects.
Allottee rights (s.19): information, stage-wise timelines, documents, possession, refund and compensation. Duties: pay as agreed and pay interest for delay, take possession, and participate in the association or society and pay maintenance.
Traps: the 10% cap is on total consideration, not merely the "booking amount"; the two-thirds is of allottees of the project; the five-year clock runs from handover, not booking.