Hi I have booked a property in Godrej Sector 150, Noida,Cop is 1.12Cr, I had paid 13 Lakh rs. and rest was applied in Bank for Home Loan, meanwhile Builder sent me BBA, but i did not signed it cause i was waiting for loan approval, but in few weeks banks had denied my loan approval, So I was not able to pay money to builder and asked builder to cancel and refund my money cause i had legit reason for it, but they denied saying cancellation will forfeiture of amount which we had paid, Now i dont know what to do Please guide me right direction. Thanks
i had not signed BBA at now, they sent me paper which i had kept it
Sir was there any booking form with term and condition??
Further is project registered under RERA.
If there is no agreement signed the builder cannot forfeit the amount you can issue a legal notice to the builder.for refund of the amount.further a consumer complaint can be filed for the refund of amount.
Secondly you can try for bank loan with some co-applicant might be your loan is approved or with a private bank. If you are interested in property
At the time of Booking only 1-2 page of things were there, I dont remember if there any terms and condition was on it or not. I had not signed and submitted my BBA to builder Project is registered under rera. How much it will cost for legal notice to builder and how much time could take in refund?
Sir you can take service of an Advocate to send the notice for cancellation and refund further if builder fails to refund on notice you can file a consumer complaint.
It can take a year or two for complaint to settle or more.
The cost shall be according to advocate you engage.
What were terms and conditions of allotment .?.
2) Is there a forfeiture clause ?
3) if so builder can refuse to refund your money
you may not have signed BBA but allotment letter must have been issued to you
Read terms of allotment
Legal fees for sending legalnotice vary depending upon lawyer engaged by you
You can go to consumer forum for refund of money paid b6 you
Disposal would depend upon pendency of cases in court
it is common for builders to deduct a cancellation charge, usually 10 per cent of the cost of the flat.
You can file a Recovery suit against him.
It is advised that you send him a legal notice for refund of money.
Hi, a complaint under RERA can be made for seeking refund alongwith compensation ... However , it is advisable to issue developer a legal demand notice to refund the amount within 15 days , failing to which you will be entitiled to proceed against him in the competent court of law ..
Firstly, you have to send a legal notice to the builder intimating him of the cancellation as the builder buyer agreement has also not been signed as yet.
If builder fails to refund the amount within 15 days of receipt of the legal notice, you can proceed to file a complaint in consumer court or RERA.
As you are not send the Builder buyer agreement as yet, you will not be bound with the terms and conditions of the said agreement.
Cost of sending legal notice differs from advocate to advocate, and you would need to meet an advocate in person to discuss such details as price quotations cannot be given as per the policies of this website.
Whether or not they can forfeit your booking amount in partial or in full depends upon the terms and conditions contained in the booking amount you signed with them.
Please go through the terms and conditions of booking and let us know.
In any view of the matter, you need to start with a legal notice, which you need to send to this builder and seek full refund of your deposit.
If the legal notice fails to be of any help. approach UP RERA.
Fee varies from lawyer to lawyer
if rera is applicable to your project file complaint in rera. else consumer complaint can be filed. the builder has to refund you the entire amount.
Dear Client,
Without registering sale agreement/BBA, builder can receive upto 10% of total cost in advance. Was there any clause or agreement that agreement shall be subject to loan approval ?
AND loan approval was process by your self or through builder ?
1. Send a legal notice to the builder.
Fee might vary from lawyer to lawyer
Regards
If he is registered under RERA then you may file a case against him before RERA
if the builder buyer agreement was not signed then he can not forfeit your money.
Regards
You first send a communication intimating the builder that you want to cancel the booking since the bank has not sanctioned loan.
The communication in writing should be sent by registered post with acknowledgment card, after that if the builder is not responding or denying to return the booking amount after deducting the administrative costs and taxes, you can drag him to consumer forum for relief and remedy.
i had not signed BBA at now, they sent me paper which i had kept it
That is an advantage for you to claim full refund after deductions of administrative charges.
Since the project is coming under RERA, you may even approach RERA for relief.
As per RERA, the booking mount, even if the cancellation is due to the buyer's own decision, the builder shall be liable to return the same.
You can even send a legal notice on this and then approach RERA or consumer forum on this.