• Refund of token money from builder

I gave a token Amt of Rs 5 lakhs in Wadhwa Atmsophere project Azure.

Had to cancel booking within 2 days after paying token amount due to personal reasons.

I did signed booking form...scanned and send to sales person.The payment of 5 lakhs was done online but builder hasnt provided any receipt.


Initially Sales Manager said he will refund money but now says that CRM is unable to refund

Question : 
1.Is there a possibility to get refund given that the 
e booking form does not have builders signature and the flat was cancelled within inital period of 2 days.

Regards
Asked 3 months ago in Property Law
Religion: Hindu

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9 Answers

You can communicate your decision to the builder communicating your decision to cancel the booking and demand refund of the booking amount paid by you vide the online transaction and instruct him to refund the same within 7 days from the date of receipt of this notice.

You may send this notice in writing by registered post or by courier service, preferably through a lawyer, so that the builder would hesitate to ignore your demand.

If you send this communication through email, this may go unnoticed and you may have to follow it up through many more such emails without bearing any fruit to your attempts

Hence better you hasten the process, preferably with the help of a lawyer through a legal notice. .

T Kalaiselvan
Advocate, Vellore
75050 Answers
1263 Consultations

5.0 on 5.0

Booking amount would be forfeited by builder 

 

what were terms and conditions of allotment mentioned in booking form kindly clarify 

Ajay Sethi
Advocate, Mumbai
84937 Answers
5618 Consultations

5.0 on 5.0

Send them legal notice thereafter file a complaint with RERA.

Dalip Singh
Advocate, New Delhi
942 Answers
23 Consultations

5.0 on 5.0

Well it depends. 

Terms and conditions of booking form. 

 

But if sales manager confirmed for refund (not on call) then you will get refund.

Dont send anymore email.

Better ask for refund through legal notice through lawyer. 

 

Ankur Goel
Advocate, Bangalore
373 Answers

4.9 on 5.0

Yes. There is a possibility of partial refund. You should send a legal notice to the builder asking him to refund the token amount minus 10% of the token amount as cancellation fees. 

If he fails to adhere, you can file consumer case against the builder in consumer forum for the unfair trade practices adopted by them

Siddharth Jain
Advocate, New Delhi
5820 Answers
88 Consultations

5.0 on 5.0

If it's a booking amount it will be difficult. In case of token amount there are conditions of non refund you need to claim same through civil suit. you can file complaint under rera Or consumer Court against the builder and seek compensation. If you need any further assistance then you can approach me through kaanoon or LinkedIn.
https://www.linkedin.com/in/prashant-nayak-5477b138

Prashant Nayak
Advocate, Mumbai
24936 Answers
58 Consultations

4.4 on 5.0

Hi, as per RERA provisions the earnest money or the booking amount will be forfeited upon cancellation of unit by the allotted ..However ,we can seek refund of the amount if we can show some kind of deficiency on part of the builder 

Hemant Chaudhary
Advocate, Gurgaon
4617 Answers
55 Consultations

4.9 on 5.0

- There is no guidelines laid down by the government to forfeit the booking amount for the cancellation, and the deduction is done at the builder’s discretion.

- Hence, legally, the builder cannot deduct any money out of the advance payment you have made for the booking till the time; a builder-buyer agreement is made and registered with the sub-registrar.

- Further, A builder-buyer agreement is not created until the buyer pays at least 10 per cent of the property value.

- Further, as per Real Estate Regulation Act (RERA), home-buyers can cancel allotment of the apartment booked with a builder at any stage even if there is no default on the part of the developer. The builder is bound by law to return the money collected from buyers within 45 days, after deducting the booking amount.

- Hence, if you have already paid 10 percent of the flat value, and the said agreement signed by you , is not registered in the office of the Registrar , then you are liable to get full amount refund paid by you ,even there is a clause present in the agreement for not refunding  , and if the said agreement is registered , then builder has right to deduct booking amount from the paid amount. 

- If, builder not refunding the same ,then you should lodge your complaint before the Consumer court , and thereby prayed for the refund of paid amount with interest.

- If you having proof of payment with you , then that can be admissible before the court . 

Mohammed Shahzad
Advocate, Delhi
8498 Answers
92 Consultations

5.0 on 5.0

Dear Client, 

1) If the booking form mentioned any rules and conditions regarding cancellation, then it might be applicable.

Thank You

Anik Miu
Advocate, Bangalore
3099 Answers
31 Consultations

4.9 on 5.0

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