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Flat booking amount refund against booking cancellation


29-Aug-2023 (In Recovery Law)
Dear Sir/Madam, I've booked a flat in Noida and have paid 10% amount to the builders account. Only booking form is filled till date. Builder Buyer Aggreement is not signed yet. Now because the requested loan amount is not sanctioned and a lower loan amount is offered by the bank due to my eligibility. Due to which I have no other option but to cancel the booking. Now the builder is saying that 10% booking amount will be forfeited. What should I do? Am I supposed to get the booking amount
Answers (1)

Answer #1
821 votes
In that case, you should immediately issue a Legal/Demand Notice to the builder for that pending blocked payment, which was transferred to the builder, and it's neither your mistake nor banks' fault so you will deserve that amount.
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Advocate Anurag Bhatt

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