651+ Lawyers are online 
cancellation of new house after registration what penalty can be there
13-Mar-2023 (In Property Law)
I have booked a house at ravet. Its almost 1 month after registration but due to some financial problem we are not able to pay the amount. The loan have not been finaziled and we have paid almost 50% of the amount. My question is 1) Can we cancel the house and still get the stamp duty and registration amount back 2)what will be the penalty we need to pay to the builder.
IF AGREEMENT IS CANCELLED, STAMP DUTY PAID IS REFUNDED, IF CONDITIONS FULFILLED. The Original ranking/ stamps be returned to authorised person of collector within 4 months , specifying reason for cancellation, A cancellation charge of 3-5% levied, and a cheque issue in favour of Stamp Purchase. But in case where the documents are registered, you cannot claim for registration. Penalty on part of the builder depends upon the terms and condition of the sale agreement. If there is a condition mentioned in the agreement that the builder will impose some penalty in case cancellation then that condition will stand.
146+
Adv. Siddhant Sharma
Delhi | 200+ Answers
Chat
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 Divorce Lawyers at lawrato.com to address the specific facts and details.
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
