Fines and Penalities for Real Estate Agents

The Real Estate (Regulation & Development) Act, 2016 provides for penalties to be imposed on Real Estate Agents for contravention any of the provisions of the Act. The offenses & the Penalties can be tabulated as below:
 

Section	Offences	Penalty
62	Contravenes Section 9/10	Rs.10000 Per Day, maximum 5% of the cost of the Unit
65	Other than Section 9/10	Penalty Per Day , maximum 5% of cost of the Unit
66	Contravenes Order / Decision of Tribunal	Imprisonment up to 1 Year or  10% of Estimated cost of the Unit

 
Section – 9 of the Act mandates registration of Agents and Section 10 deals with the functions of the Real Estates Agents.