I have purchase a flat in scheme 30 % at time of booking /70% on occupancy certificate, in may 2013 , paid 30 % advance . as per commitment of builder the possession was to be given in 2 year + 6 month grace period. i.e by November 2015 .but builder did not give flats. Now builder has got occupancy certificate and send the demand letter as per agreement. He has given penality for 12 months at rate Rs 7 / sqft as per agreement to me But i wish to cancell the flat . agreement on canallation say that 15 % earnest money OF SALE value + brokrage charges+ interest if any will be deducted and when flat will be sold money will return i HAVE PIAD 20 LACS ( 30 % of sale value ) in 2013 Can i cancell the flat and get back my money ( 20 lacs ) back from builder and what procedure i should follow regards
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1)you would not get refund of 20 lakhs
2)builder would be entitled to deduct 15%of earnest money plus other charges as provided in agreement
3) inform builder that you want to cancel the agrement
4) builder would inform you as to amount refundable to you
5) if builder faisl to refund file complaint before consumer forum and seek refund , litigation costs , compensation
1. Is there any penalty clause stating that he shall have to pay penalty for the delay of more than 2 years and 6 months?
2. Is there any clause that you can cancel the agreement in case the possession is not given after 2 year and 6 months for which no amount will be deducted from the booking amount?
3. However, since he has already paid the penalty as per the agreement, you have no validly acceptable ground to cancel the agreement.
4. You can cancel the said agreement only if you find that the builder has not complied with the terms of the agreement which has made it difficult for you to further pursue with the said agreement from your side.
1. Cancellation doesn't depend on the wish of the parties. It's guided by the clause mentioned in the sale agreement.
2. It appears the builder has paid the penalty for the delay in possession and you have accepted the same.
3. If that is so you can not cancel the agreement and if you do so part of the advance would be forfeited.
So decide accordingly.
The cancellation clause has been given very clearly in the agreement for sales.
Though the builder is entitled for the deduction as per the condition, you can also claim compensation for the delay in construction beyond the agreed period, that way you can negotiate the amount to be deducted by him.
Actually the conditions or agreement appears to be one sided, but since yo have committed to it you have no choice than to oblige the conditions.
In case of any of any grievance in this regard you may drag the builder to consumer forum seeking justice and relief.
1. If you wish to cancel the flat then issue a lawyer's notice to him in this regard and claim the refund of money.
2. The cancellation clause referred to by you shall come into play only when the cancellation is made despite the builder having discharged his contractual obligations, but in your case the cancellation is necessitated by the default of the builder. As a corollary thereto you are entitled to a full refund.
