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Section 15: Interest payable by promoter and allottee

TRIPURA REAL ESTATE Rules 2017State Rules of Tripura · 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 per cent.

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

16. Timelines for refund.--- Any refund of monies along with the applicable interest and compensation, if any payable by the promoter in terms of the Act or the rules and regulations made thereunder, shall be payable by the promoter to the allottee within forty-five days from the date on which such refund along with applicable interest and compensation, as the case may be, becomes due.

CHAPTER VI REAL ESTATE REGULATORY AUTHORITY

Where this provision sits

ActTRIPURA REAL ESTATE Rules 2017
Section15
Marginal noteInterest payable by promoter and allottee
JurisdictionState of Tripura
StatusIn force as published by the source

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