Had Booked in commercial project at NOIDA N paid 55% of cost on assurance of 11% monthly interest in April 2014. I had only signed Provisional Booking Form. In view Terms n conditions Not provided after a week of Provisional Booking N paying money applied for cancellation N return of my money. Builders refused to accept cancellation letter in writing N hence sent same on their Official E Mail ID. Interest paid till April 2015 when stopped. Approached for return of money again N interest till they return money. What is legal status for return of money N how much deduction if any applicable.

Answers (2)

129 votes

This is a case of defult and luring for interest , you should file a criminal complaint immediately and also a consumer complaint for recovery of dues. There have been multi fold increase in such default cases in recent times and on most of the cases developer has been arrested. It would be good to consider all avialble options.

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307 votes

carefully go through the sale/ allotment agreement on the clause pertaining to cancellation of the booking. It will be as per the agreement..if there is no clause then check your allotment letter as there must be certain terms and conditions for cancellation..builder is liable to refund your money if the ground for cancellation is not vague and concocted..if the builder doesn't refund money after deducting the necessary amount then you can approach the consumer forum for the same..

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