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Refund of amount paid to builder after cancellation of sale agreement
30-Jul-2023 (In Civil Law)
Details of your phone consultation request: Hello Sir, I had booked a plot with a reputed builder and the consideration value for the plot is 24lakhs and we made a sale agreement accordingly. In continuation I have made 2 installments i.e booking amount of Rs 240,000/- and 2nd installment of Rs 360,000/- . This plotted development is registered under RERA . Now , due to personal exigency I would like to cancel the agreement and requested for refund - builder says he will forfeit the booking amount of Rs 2.40Lakhs and the same is as per RERA rules(cancellation policy in the sale agreement says - as per RERA without any mention of percentage clause) . Can you please advise if I have a chance to get the full refund of 6Lakhs? If Yes, should I approach the RERA to fight legally or consult a lawyer
You have a fairly good chance of getting full refund, of course with a reasonable or nominal deduction. But your agreement with that builder has to be carefully examined for that. You have to ask Lawrato people to get the contact details to reach advocate.
Helpful?
Adv. S.K Prabhakar Shetty
Bangalore | 500+ Answers
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Yes, you can approach RERA and file a compliant against builders.
Its the usual conduct of buliders to forfeit the booking amount/ telling the customer to wait till the property is resold to another customer.
The majority of Courts has favoured in favour of home buyers as it will not cause any loss to builders. In fact the builder might get more profit due to price appriciation during your booking period.
Neither RERA Act nor Rules empowers buliders to act in such a rigid manner. But its the clauses in sale agreement(prepared by builder) that the builders use to justify there conduct.
U also have alternative remedy in suing in Civil Court/ Consumer Court. But i Recommend to file in Rera for expeditious adjudication.
Advocate Jamal Sait
Bangalore
Its the usual conduct of buliders to forfeit the booking amount/ telling the customer to wait till the property is resold to another customer.
The majority of Courts has favoured in favour of home buyers as it will not cause any loss to builders. In fact the builder might get more profit due to price appriciation during your booking period.
Neither RERA Act nor Rules empowers buliders to act in such a rigid manner. But its the clauses in sale agreement(prepared by builder) that the builders use to justify there conduct.
U also have alternative remedy in suing in Civil Court/ Consumer Court. But i Recommend to file in Rera for expeditious adjudication.
Advocate Jamal Sait
Bangalore
Helpful?
Adv. Jamal Sait
Bangalore | 400+ Answers
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