Section 16: Interest payable by the promoter and the allottee

Real Estate (Regulation and Development) Rules, PunjabState Rules of Punjab · 2016

The rate of interest payable by the promoter to the allottee or by the allottee to the promoter, as the case may be, shall be the State Bank of India highest Marginal Cost of Lending Rate plus two percent:

Provided that in case the State Bank of India Marginal Cost of Lending Rate is not in use, it would replaced by such bench mark lending rates which the State Bank of India may fix from time to time for lending to the general public.

Where this provision sits

Act	Real Estate (Regulation and Development) Rules, Punjab
Section	16
Marginal note	Interest payable by the promoter and the allottee
Jurisdiction	State of Punjab
Status	In force as published by the source

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