Duties and liabilities of the promoters of an apartment (Part-1)
A promoter of an apartment shall make full and true disclosure to the intending buyers of apartments, details regarding the nature of his title to the land on which the flats are constructed, such title duly certified by an Advocate of not less than seven years standing. He shall also make full and true disclosure of all encumbrances on such land, and shall allow inspection on reasonable notice, of the plans and specifications of the buildings, built or to be built on the land. Further such plans and specifications shall have to be approved by the local authority under the law in force.
The promoter is also duty bound to disclose the nature of fittings, fixtures and amenities to be provided; as well as the particulars in the design and the materials to be used in the construction of the building. A promoter shall also specify in writing the date by which the possession of the flats is to be handed over.
The promoter shall also prepare and maintain a list of flats with their numbers and the name and addresses of the parties and the price charged or agreed to be charged. He shall also state in writing the nature of the organization of persons to be constituted and to which title is to be passed, and the terms and conditions governing such organization of persons.