cancellation of flat before signing of Agreement
18-Dec-2023 (In Property Law)
I had booked a property in May 2019, by paying 1 lakh as booking fee. Then On October 2019 I had paid 6.8 lakh as a 10% of Property price. Total I had paid 10% of property price amount 7.8 lakh.
Now due to some financial reason I need to cancel my booking and given application to promoter. I had not signed any agreement with promoter
Promoter is saying that as per RERA law 10% of property cost will be deducted hence no refund will be done to me .
Normally, the builder has to pay back the entire amount to you. In most cases, the builder retains 10% of the booking amount as penalty and reimburses the rest. If to there is any agreement signed by the buyer then it depends on the terms of the agreement. If there is no such agreement and if the builder refuses to refund then you can send legal notice to him and subsequently file a civil case.
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