Builder forfeiting booking amount as per agreement clause. What to do?
I booked a flat with a builder. The bank did not approve the loan for the same. THe booking amount for the same was 1.72 lakhs. In the builder buyer agreement there was a clause that if i cancel the booking for any reason the booking amount won't be refunded. What should i do in such a case?
To our understanding, it is very important to go through the clause of cancellation of the builder and buyer agreement.
And where there is a clause that explicitly makes it clear that upon cancellation, booking amount won't be refunded which is in fact your case, then you are bound by this clause and would not get your booking amount back.
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