Section 27, Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act, 1963 [S2G-54Z]
As at 7 September 2026. In force from 4 November 1963 by No. 3679/1963 [N12-THB].
27. Grant of licence.—(1) An application for a licence to undertake the purchase of an apartment shall be made to the Authority in Form B, accompanied by a fee of five hundred rupees. (2) The Authority may, after making such inquiry as it thinks fit, grant the licence subject to such conditions as may be prescribed, or, for reasons to be recorded in writing, refuse to grant the licence. (3) A licence granted under this section shall be valid for a period of three years from the date of its grant and may be renewed in such manner as may be prescribed. (4) The Authority may, after giving the licensee an opportunity of being heard, suspend or cancel a licence for contravention of any condition thereof.
Defined terms in this text (2)
Authority: Section 2, Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act, 1963 [S2G4B5] (In this Act, unless the context otherwise requires,—): "Authority" means the Real Estate Regulatory Authority established under section 20 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016)
Authority: 22 more definitions.
prescribed: Section 2, Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act, 1963 [S2G4B5] (In this Act, unless the context otherwise requires,—): "prescribed" means prescribed by rules made under this Act
prescribed: 996 more definitions.
Made under this section, or naming it (0)
none
Cited by (1)
Section 26, Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act, 1963 [S2G-53H], 23 February 1963, Band A. "section 27".
Not held (0)
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Duties published under this section (0)
none