Builder refusing to refund our booking amount. What can be done?
A renowned Gurgaon builder is refusing to cancel / refund our booking amount and not even giving us a copy of the LOI agreement that we had signed while buying the property from them. Now we have some financial constraints and are unable to pay the next EMI and when we approached their office we were told that we cannot cancel and the entire 15% booking amount of 20 Lacs paid by us will be forfeited.
We want to cancel and can pay some penalty but not the entire 20 Lacs. What should we do now?
It depends on the terms of the Agreement. Such Agreements generally provide for a clause whereby in case the booking is cancelled then a percentage of the amount is deducted as penalty and the rest is refunded.
You need to try and procure the LOI / Agreement and based on the terms can you claim the money.
Once you are able to get a copy of the Agreement, a recovery suit can be filed for the recovery of the amount.
Kindly contact us for any further details and action.
Send a legal notice to builder for delay in construction @ Rs. 1999/- only
- Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Property Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
Get Started >>
Answers by Our Lawyers
- Converting driveway into play area is legal within an apartment
- Can great grandson claim great grandfather's self acquired property ?
- Can husband contest the case if wife withdraws the complaints, advise
- Procedure to transfer property in wife's name
- Clarification on case status for a PWD notice