refund of booking amount in case of non sanction of loan by bank
28-Nov-2023 (In Property Law)
Dear Sir,
i have booked a apartment in Bangalore 2 BHK flat with Shriram Properties. During the booking I have raised the loan issue several times, but Deputy Sales manager promised me that rs.24,00,000 loan will be sanctioned but later on bank has not process my loan & i have approach 10 month to the different bank but loan is not issued to me. I spoke Deputy sales manager regarding cancellation and told me write a cancellation letter and entire money will be refunded . I have written several letter but they are not picking up phone completely . Today i spoke to CRM team he told me that in the booking form it is mentioned that entire booking amount is forfeited .I have not yet signed the agreement waiting for loan. what to do in this for getting booking amount refund.
I suggest that you get issued to them a legal notice demanding refund of your booking amount. even if they have mentioned in the brochure or receipt that the booking amount is not refundable, if the the reason is genuine for you then they are under obligation to return the same with interest.
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