It depends upon the terms and conditions specified in the form. Generally, the booking amount is not refundable
Want to withdraw my booking amount with builder. I have signed application form but no buyer seller agreement. I have sent a mail to builder within a week of my booking amount cheque clearance. Please guid if builder can refuse to refund.
It depends upon the terms and conditions specified in the form. Generally, the booking amount is not refundable
The builder may deduct 10% of the booking amount before making the refund please see the application in this regard
1. Refer to the agreement to see what is the penalty out of breach or early termination of the same.
2. In general on cancellation of sale agreement the developer is bound to refund the money with stipulated deductions or deduction of reasonable sum of money.
3. If the developer refuses to refund then you can file case before the consumer forum
Dear client
The builder cannot refuse the refund and there was no agreement between you and builder.
If he doesn't return the money send him a mail again after that send him legal notice to proceed legally against him.
You must have signed an application form at the time of flat booking. Please check if there are any hidden terms and conditions mentioned in the backside of the Booking Form.
I presume project is registered with RERA
2) builder can deduct 10 per cent of booking amount and refund you balance
3) if he refuses file complaint against builder before consumer forum and seek orders to direct builder to refund your money with interest
4) also claim litigation costs and compensation for mental torture undergone by you
See if there is no agreement and further there is condition of forfeit if amount you can give a cancellation notice to builder and can seek refund of amount. In case there is condition of forfeiture in the application form the builder may forefiet the amount and you need to then file a complaint before RERA authority or consumer court to seek refund.
Hi,as per RERA provisions if the allotte wants to cancel the booking without any fault of the builder ,then the booking amount shall be forfeited and the balance amount will be refunded to the allottee
If you have not signed any sell agreement than its ok, builder has to refund 100% amount otherwise builder may deduct 10% or mentioned in the brochure the terms and conditions of cancellation of flat.
Kindly check brochure and if you have signed a single paper of booking in that termination clause may be mentioned in that kindly check.
Dear Client,
You may claim your booking amount, but builder may deduct some amount from the booking amount.
You are liable to be refunded the booking amount after subjecting the same to applicable deductions in accordance with the terms and conditions contained in the booking form.
Having said the above, by means of your letter to the builder, you should seek full refund of your booking amount.
He can deduct 10%, find fault of builder than ask for refund. How advance he took, without ATS, cannot take more than 10% in advance.
Dear Sir,
Following examples make you clear.
Cancelling an apartment booking?
Saurabh from Bangalore booked an apartment in January 2014 after taking a home loan from a well known bank. However, now he wants to cancel the booking and is ready to bear the necessary monetary loss. He wrote to Magicbricks.com enquiring about his available options while cancelling the booking?
Buyers like Saurabh, who due to various reasons, are forced to cancel their booked property. However, the path to booking cancellation is unfamiliar to many.
Sometime issues such as delayed project and exuberant cancellation fees being charged by builders are faced by such buyers.
Following are some circumstances that buyers can identify and their solutions with while cancelling their booking.
Asha Nayar Basu, partner, S Jalan & Co, a legal firm in response to Saurabh's query says, "Carefully go through the sale/ allotment agreement on the clause pertaining to cancellation of the booking. It will be as per the agreement. Some ag ..
There are others who did not sign any agreement or did not have a clause of cancellation of the agreement. Take for instance Dharmesh, who entered into an agreement for an under construction flat. His agreement had no provision for cancellation. In such cases Basu advices, "In case there is no clause for termination or cancellation, you can cancel the same on certain grounds of impossibility to perform the same, which can be made out from the agreement. However, if the agreement is cancelled on ..
You can communicate your decision to cancel the booking in writing and send the same by registered post while making a demand for refund of your booking amount in the same letter.
You may wait for 7 days and then initiate legal process for refund of the booking amount as per law.
1. Are there any terms and conditions printed on the back of application form which deal with cancellation of booking? If such terms are there on the application form or brochure then cancellation will be governed by it.
2. Usually the builder always creates an escape route for himself by incorporating cancellation charges clause in the brochure.