• Regarding RERA law

I have cancel my Unit with a builder in Noida. This was due to my financial emergency. I was aware that I will lose my booking amount. It has been over a year and my builder hasn't paid me my refund. Second thing as per my information they have already sold my Unit to another patry. 
I have read many articles and also here in Kaanoon.com that according to RERA law , if the buyer cancels his/her unit he will lose the booking amount and the promoter/builder need to refund the balance amount within 45 days. Is it true?
Asked 4 years ago in Property Law
Religion: Hindu

20 answers received in 1 day.

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20 Answers

Yes but if builder is in default you need to complain in rera for refund and you may be  allowed interest on due amount @ mclr+1%

Vimlesh Prasad Mishra
Advocate, Lucknow
6852 Answers
23 Consultations

4.9 on 5.0

Builder can deduct only 10 per ce t of booking amount and has to refund balance amount in case of cancellation of booking 

 

2) if builder refuses to refund your money file complaint against builder before RERA for refund of your money 

Ajay Sethi
Advocate, Mumbai
94689 Answers
7526 Consultations

5.0 on 5.0

Yes it's true. If not given you can  claim interest and compensation on the said amount from rera

Prashant Nayak
Advocate, Mumbai
31930 Answers
179 Consultations

4.1 on 5.0

1. you can claim your booking amount by sending a legal notice through counsel or filing a complaint in RERA,

2. a nominal deduction of 10% is applicable in the booking amount and you will get the balance

Suneel Moudgil
Advocate, Panipat
2381 Answers
6 Consultations

4.8 on 5.0

Yes it is true you can file a complaint before RERA authority for your refund along with the interest. 

Shubham Jhajharia
Advocate, Ahmedabad
25514 Answers
179 Consultations

5.0 on 5.0

The builder has to pay back the amount. File a complaint in rera immediately otherwise questions may be asked about the delay.

Rahul Mishra
Advocate, Lucknow
14088 Answers
65 Consultations

5.0 on 5.0

1. YES.  the law prescribes to forfeit 10% of the cost of Flat, in case the customer cancels the booking.

2. However, IF the booking is cancelled due to fault of Builder (late or delay construction /disputes /sub-standard construction etc.... ) THEN the customer is entitled to receive refund of full amount alongwith 12% interest.

Hemant Agarwal
Advocate, Mumbai
5612 Answers
25 Consultations

5.0 on 5.0

No, it’s no where prescribed that the builder is mandated to process refund after deducting booking amount within 45 days. Having said that, since the builder has already resold your unit and has also forfeited the booking amount, there’s no reason why he should continue over the rest of money which he is supposed to refund back to you . Approach UPRERA by way of preferring a complaint. 

Vibhanshu Srivastava
Advocate, Lucknow
9600 Answers
303 Consultations

5.0 on 5.0

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. N

Ajay Sethi
Advocate, Mumbai
94689 Answers
7526 Consultations

5.0 on 5.0

Yes, but until you will not complain to RERA, why builder will honor the law. Better don`t mention that you have cancel the booking and impute cancellation on builder if you have not cancel through written request.

Otherwise mention that builder misrepresented and offer orally the other amenities whcih were later found false.

Yogendra Singh Rajawat
Advocate, Jaipur
22623 Answers
31 Consultations

4.4 on 5.0

Complain to RERA.

Yogendra Singh Rajawat
Advocate, Jaipur
22623 Answers
31 Consultations

4.4 on 5.0

Yes

Prashant Nayak
Advocate, Mumbai
31930 Answers
179 Consultations

4.1 on 5.0

this is agreement specific and is not the law. If the agreement says so he has to refund  it. Even if it is not mentioned in the agreement he has to return it within a reasonable period.

Rahul Mishra
Advocate, Lucknow
14088 Answers
65 Consultations

5.0 on 5.0

He is bound to refund, but whether or not within 45 days, depends on the terms and conditions of the Agreement that you signed with him. 

Vibhanshu Srivastava
Advocate, Lucknow
9600 Answers
303 Consultations

5.0 on 5.0

Yes it is true builder is liable to refund remaining amount within fixed period of 45 days after that you can claim interest on remaining amount.

 

Mohit Kapoor
Advocate, Rohtak
10687 Answers
7 Consultations

5.0 on 5.0

Yes builder is bound by RERA law and the authority may pass appropriate orders.

Shubham Jhajharia
Advocate, Ahmedabad
25514 Answers
179 Consultations

5.0 on 5.0

1. YES. RERA laws prescribes return of Money by builder within time frame,  when written application for same is given to Builder (not oral request).

Hemant Agarwal
Advocate, Mumbai
5612 Answers
25 Consultations

5.0 on 5.0

The RERA empowers the home buyer to cancel an allotment of the apartment booked with a builder at any stage even if there is no default on the part of the developer. It binds the builder to return the money collected from the buyers within 45 days of such cancellation after deducting the booking amount

T Kalaiselvan
Advocate, Vellore
84890 Answers
2190 Consultations

5.0 on 5.0

You are right, you can approach RERA with your grievances and for relief to the long wait of refund of the amount.

T Kalaiselvan
Advocate, Vellore
84890 Answers
2190 Consultations

5.0 on 5.0

Engage a advocate and issue legal demand notice and after receipt of the notice the builder do not refund you the balance amount. You can thru the advocate file a consumer complaint and ask reliefs of refund of money with interest and compensation for mental stress given to you by builder. 

Mohammed Mujeeb
Advocate, Hyderabad
19299 Answers
32 Consultations

4.7 on 5.0

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