12. Obligations of promoter regarding veracity of the advertisement or prospectus.—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: 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.
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More sections of this act
Section 1 · Short title, extent and commencement.Section 2 · Definitions.Section 3 · Prior registration of real estate project with Real Estate Regulatory Authority.Section 4 · Application for registration of real estate projects.Section 5 · Grant of registration.Section 6 · Extension of registration.Section 7 · Revocation of registration.Section 8 · Obligation of Authority consequent upon lapse of or on revocation of registration.India Code, Government of India. Text fetched 14 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.