Builder can deduct 10 per cent of booking amount as cancellation charges 

cancel it before builder offers possession 

builder can deduct stamp duty charges paid by him 

you can claim refund of stamp duty paid by you 

10% of the cost plus cost of stamp duties and stationary expenses and other incidental expenses. 

On recovery of the stamp duty by way of adjustments on sale the buyer shall pass on the benefit to the affected person,  in this case the first party that is you. 

1. as per your agreement you have agreed that on cancellation by purchaser [for no fault of builder] the builder will be entitled to forfeit 10% of total consideration plus service tax

2. so the forfeiture amount will be 10% of 4.5 crore which comes to 45 lacs plus applicable service tax 

3. i am not sure whether builder can also charge you service tax on the 45 lacs since giving a refund is not giving of any services for which service tax can be levied. I need to do further research on that

4. if the builder gave you 22 lacs stamp duty waiver that means he must have paid that amount from his pocket. As per the stamp laws if the registered agreement is cancelled then the stamp duty paid on that agreement can be claimed from the collector as refund, provided the application for refund is made within stipulated period provided in law. So on cancellation the builder can make an application to the collector for refund of stamp duty paid. In such a case it would not be correct for builder to deduct that 22 lacs from your refund amount

5. it does not matter when you cancel the agreement, whether it is before or after the builder gives you possession. 

6. the consequences of cancellation by buyer are already spelt out in the contract which will bind the buyer

MAHARASHTRA STAMP ACT, 1958 Section 48 - Application for relief under section 47 when to be made

The application for relief under section 47 shall be made within the following period, that is to say,--

(1) in the cases mentioned in clause (c) (5), within 1[six months] of the date of the instruments:

6[Provided that, where an agreement to sale of immovable property on which stamp duty is paid under Article 25 of the SCHEDULE I, is registered under the provisions of the Registration Act, 1908 (XVI 1908) and thereafter such agreement is of cancelled by a registered cancellation deed for whatsoever reasons before taking the possession of the property which is the subject matter of such agreement, within a period of five years from the date of execution of the agreement to sale, then the application for relief may be made within a period of six months from the date of registration of cancellation deed.];]

so in your case since possession is not yet given to you, and the agreement is sought to be cancelled within 5 years of its execution, then within 6 months of making the registered cancellation deed between you and builder for cancellation of the allotment of flat to you, the builder can apply to the collector for refund of stamp duty that he paid for you and which was waived by him when you booked the flat with him

The builder can deduct 10% of total consideration of flat which is 4.5 cr plus GST

This would amount to 45 lacs plus GST and stamp duty paid by builder 

Instead of cancellation of flat you should go for selling of flat to some third party and make triparty agreement between builder buyer and you by this you can minimize your losses. 

I believe that the Agreement must be having an Arbitration Clause and therefore you can initiate Arbitration. that is the most efficient way to get you grievance redressed as now a days consumer forums are loaded with work and lot of time would be consumed.. 

Hi

You need to pay the LD @ 10% towards cancellation charges.

In case if the property is not ready you cancel the same before the builder intimates you about taking possession.

You are entitled to refund of balance amount alongwith other incidental expenses, the stamp duty component will be adjusted and it will be shifted to the next purchaser.

He can only deduct if registration has not done. 

If he has given waiver he can't deduct the same. 

Better wait till sept 2019, might he may not deliver the possession than you can demand full refund. As of now, withdrawal from deal , builder entitle to forfeit 10% of property cost. You can cancel anytime.

Was the earnest money paid before ATS or after ? IF before than chances of full refund.

Waiver will not include in forfeited amount but he may deduct which you have to recover by filling case.

Try to find fault on builder part, OC , CC many things have to arrange by builder to complete the project. Let sept 2019 pass than initiate for refund. If ask to take possession ask him to provide OC, CC. Am sure he may not able to .

As of now you are at final stage to receive crown in your hand.

You had paid almost more than 50% amount to builder. Plus builder had given discount amount of registration, stamp duty etc.

• If you go for cancellation you will have to pay a lot amount.
• 22 lacs stamp duty.
• 22.5 lacs almost on GST minimum 5%
• 25 lacs almost minimum on cancellation of agreement as per agreement clause 10% on earnest money i.e. 2.45 crores.
• So almost 70 lacs minimum builder can deduct maximum 1.25 crores.
• Better to take possession and sell it or give it on lease.

The builder can deduct 45 lakh amount as per the clause.

 You can cancel at any stage the builder can as per agreement make deductions.

Builder can deduct same as damages if he paid same.

You cannot claim refund.

Q: Whether i have to cancel flat before builder offer me possession or can i cancel after builder has issued me letter to make payments & take possession.


Answer: Yes you can cancel before possession. Otherwise you will need to enter into cancellation deed;


Q: Can builder can deduct stamp duty from refund as he has given us stamp duty waiver of rs 22 lakhs 

Answer No all stamp duty will be refunded to you. Only the builder can initiate the process;


Q: Suppose if builder deducts stamp duty of 22 lakhs can i take refund of 22 lakhs of stamp duty . the duty was paid in around may 2017 .

Answer: He cannot deduct. You can start legal proceedings against him if he does so;


Q: What other amount can builder deduct apart from 10% of consideration value as per above terms of builder .

Answer: He cannot deduct more than that. He can deduct only 10% as per RERA and/or Agreement clauses;


Q: Kindly guide about refunds against cancellation of flat from builder , stamp duty refunds ,& other related advice & precautions to be taken by us .
Answer: Consult a local lawyer, discuss full facts and take steps.

The builder cannot deduct 10% of total sale consideration amount, he may deduct up to 10% of the amount so far paid, however even that is exorbitant, you may approach RERA if the deduction is exorbitant

He may deduct the stamp duty paid by him since the deal could not be completed  as the stamp duty waiver was available for the genuine buyer and not for cancelling the booking.