Flat booking cancellation refund as per new RERA law
I have booked a flat in a pre-launch stage in Mumbai on Apr-16 and had a agreement where builder put a clause that if I cancelled the flat ,they will deduct 10% of the apartment cost. This is a SRA project ,and I can't see any progress.That's why I want to cancel my booking. But as per The Real Estate (Regulation and Development) Act, 2016, which came into force on May 1, 2017, The allottee have the right to cancel/withdraw his allotment in the project . Provided that where the allottee proposes to cancel/withdraw from the project without any fault of the promoter, the promoter herein is entitled to forfeit 10% of booking amount for the allotment. The balance amount of money paid by the allottee shall be returned by the promoter to the allottee within 45 days of such cancellation. Now for cancellation builder is charging 10% of property value which is Rs 10,00,000L and i have already paid Rs 20,00,000 in cheque format. What are my legal options in this case?. How should i go forward with this issue?
Asked 7 years ago in Property Law
Religion: Hindu