(1)

The promoter of an ongoing project shall make an application to the Authority to furnish the following information, namely:-

(a) the total money collected from the allottees, money spent on development of the project and the balance/ unspent amount lying with the promoter;

(b) status of the project (extent of the development carried out till date and the extent of the development pending) including the original time period disclosed to the allottees for completion of the project at the time of sale including the delay and the time period within which he undertakes to complete the pending project, which shall be commensurate with the extent of development already completed, and this information shall be certified by an engineer, an architect and a chartered accountant.

(2)

The promoter shall disclose the size of the apartment based on the carpet area even if sold on any other basis such as super area/ super built up area, built up area etc. which shall not affect the validity of the agreement entered into between the promoter and the allottees to that extent.

(3)

In case of a plotted development, the promoter shall disclose the area of the plot being sold to the allottees as per the demarcation/ zoning plan approved by the competent authority.

(4)

For ongoing and new projects, the promoter shall, within a period of three months of the application for registration of the project with the Authority, deposit in a separate bank account, seventy percent of the amount already realized from the allottees, which shall be utilized for meeting the land and construction cost of the project as provided under sub-clause(D) of clause (l) of sub-section (2) of section 4 which shall be used for the purposes specified therein.

Explanation. - (1) For the purposes of sub-clause (D) of clause (l) of sub-section (2) of section 4, the land cost shall be the cost incurred by the promoter, whether as an outright purchase, lease, registration charges, stamp duty and brokerage cost etc.

(2)

The construction cost shall be the cost incurred by the promoter, towards the on-site expenditure for the physical development of the project inclusive of all statutory charges as well as external development charges (EDC).

(5)

A Project where an application under rule 16 of the Haryana Development and Regulation of Urban Area Rules, 1976 or under sub-code 4.10 of the Haryana Building Code 2017, as the case may be, is made to the competent Authority on or before publication of these rules but the grant of part completion/ completion under The Haryana Development and Regulation of Urban Area Rules, 1976 or occupation certificate, part thereof, under sub code 4.10 of the Haryana Building Code 2017, as the case may be, is refused by the Competent Authority, whether before, on or after 31.07.2017,the promoter shall have to make an application to the Haryana Real Estates Regulatory Authority for registration of the project within thirty days of receipt of communication of such refusal by the applicant.