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Cost sheet not provided after property booking
26-May-2025 (In Property Law)
I booked a flat with a reputed builder on May 11th and paid ₹5 lakhs via cheque (which hasn’t been withdrawn yet). It’s been over two weeks, but I still haven’t received the cost sheet. The builder says the delay is because it’s an “investor flat.” Due to this, my home loan process is on hold, and I haven’t received any formal documentation or agreement draft. Is this delay legally acceptable under RERA, and what are my rights to demand the cost sheet and can the builder cancel my booking?
Dear Client,
RERA mandates that Developers provide a detailed cost sheet to the buyers when they book a property. This cost sheet should clearly outline all the costs associated with the property including basic charges and additional expenses.
And yes delay in providing the said cost sheet by the Developer can be penalised under RERA regulations.
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Adv. Devashish Dilip Wani
Mumbai | 25+ Answers
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without registration of agreement of sale the developer cannot accept more than 10% of the total consideration. also the cost sheet should be given as per the RERA proforma prescribed. you have all the right to demand cost sheet, and other relevant documents with respect to he title of the property before u purchase. also it is a investment flat u will be able to save on stamp duty if it falls under section 5(g)(a)
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Adv. Mansi Patel
Mumbai | 25+ Answers
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If a flat booking is cancelled with a Builder in Mumbai, due to the absence of a cost sheet or other relevant documentation, a buyer can seek a refund of the booking amount. Under RERA, developers are typically allowed to deduct a reasonable amount if the buyer cancels the bookings without fault on the developer's part, but they are also obligated to refund the full amount if the cancellation is due to the builder's fault, such as project delays or violation of terms. If the developer denies refund or imposes unfair cancellation charges, the buyer can file a complaint under RERA or approach a consumer court.
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Adv. Pankaj Bajaj
Mumbai | 1000+ Answers
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