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(1) No Developer of any scheme or project in the Special Investment Region shall invite the public directly or indirectly for sale, lease, or booking of any part of its scheme or project unless the developer has, before the launch of the scheme or project, obtained permission in this behalf from the Regional Development Authority in the manner prescribed by the regulations. (2) Whoever invites or induces any person for sale, lease or booking of any part in a scheme or project not having permission under sub-section (1) from the Regional Development Authority shall, on conviction, be punished with simple imprisonment which may extend to five years or with fine which may extend to one lac rupees or with both.
(1) No Developer of any scheme or project in the Special Investment Region shall invite the public directly or indirectly for sale, lease, or booking of any part of its scheme or project unless the developer has, before the launch of the scheme or project, obtained permission in this behalf from the Regional Development Authority in the manner prescribed by the regulations.<br> (2) Whoever invites or induces any person for sale, lease or booking of any part in a scheme or project not having permission under sub-section (1) from the Regional Development Authority shall, on conviction, be punished with simple imprisonment which may extend to five years or with fine which may extend to one lac rupees or with both.<br>