Hi I booked property few months back completed all initial payment and registration.. But due some personal issue , I am not able to continue and want Voluntary cancellation of my book under MAHARERA.. But there is no clearification I found under MAHARERA Act..and builder is charging 10 percentage of property value as panality ... But no where in any documents they mentioned about panality if I surrender in middle.. I need your assistance to Address it Thanks
If sale deed of the property is already registered and executed then you have to file suit in court for cancellation of sale deed. No other option is available.
But if only agreement to sale is prepared then you can cancel it mutually without court's interference. But you need to go through the cancellation policy mentioned in your agreement. If not mentioned then you and the builder have to mutually decide over this issue.
1) If you have signed "agreement to sale" documents and in that all terms and conditions are mentioned regarding cancellation of booking from your side than what will be penalty plus if project is not complete on time than what builder has to pay interest to buyer etc.
2) Than you have to pay 10% of advance amount and not of flat value and if there is no such agreement than no need to pay this 10% amount.
Hello,
What does the agreement signed by you and the builder talks about the cancellation charges?
Regards
If there are no charges with regards too the same then the builder can not deduct any thing.
Regards
1. Ordinarily clauses for cancellation specifying forfeiture of a percentage of the cost of the flat is mentioned.
2. If no such cancellation clause has been mentioned in the agreement signed by you, you can cancel the booking siting some fault on the part of the builder and claim refund of the amount already paid by you with interest thereupon.
3. If the builder refuses to refund the said amount, you can approach the RERA Tribunal if the project is RERA complaint.
If there in nothing in the application of the registration or in allotment letter then you can complaint in the consumer forum to recover your amount.
developer not liable to pay refund if home owner cancels booking on his own .
1) if you cancel the booking then builder can forfeit booking amount
2) builder cannot charge 10 per cent of property value as penalty in absence of any such clause in agreement
This is my response to you:
1. The RERA Act mentions that the builder can forfeit certain amount;
2. This also might be written in your allotment letter;
3. Try sending a legal notice to the builder;
4. If he does not listen then file a complaint to RERA and try to obtain maximum amount from him;
5. Consult a local lawyer to read through your documents and advise you better.
Sir under RERA also the builder can forfeit the advance amount if the booking is cancelled at the instance of the buyer on no default of the promoter.
check your agreement for procedure on cancellation
the penalty that can be charged by builder should be as stated in your agreement and if its silent then check your allotment letter
builder cannot charge 10% on the full flat value
at the highest he can charge 10% on all the moneys so far paid by you
You can cancel the booking even on your own and send the communication intimating your decision to cancel the booking by registered post, you can place your demand for refund of your booking amount in full.
Let him give a reply stating whatever he wants to state, if it's not in your favor then you may approach RERA for relief and remedy.
As per RERA rules the builder has to refund the booking amount even if it is your fault by deducting some nominal amount as prescribed in the rules.
