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Refund of Booking Charges from Builder


17-Apr-2025 (In Property Law)
I booked two flats in Runwal MyCity in Sept-2017, on paying booking charges of Rs 5 Lakh (5% of payment) with a condition on the booking form that the charges were non-refundable. Due to dispute with the builder, I was compelled to canncel the bookings. Builder refused to refund the booking charges, citing the condition in the booking form. Recently I learnt the RERA rule that on cancellation the builder is bound to refund the booking charges in full. Is it possible now through RERA ?
Answers (1)

Answer #1
588 votes
Under RERA, if a buyer cancels a flat booking, the developer can deduct a reasonable amount, as agreed upon in the agreement, but the deduction cannot exceed 10% of the basic sale price of the flat. If the developer is at fault, such as project delays, the buyer can typically claim a full refund without deductions, plus interest.
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