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Non refund of token amount by the builder


18-Oct-2023 (In Recovery Law)
I had paid Rs.33,000,00/- (Thirty three lacs) to a reputed builder having their H.O. at Thane (W) towards booking of a flat in their in 95% completed project in Thane itself in the month of April 2019. Total cost of the flat is 2, 30, 000, 00/- (Two crores & thirty lacs). It was decided to pay 33, 00,000/- towards the booking which I had paid as stated above and rest of the amount will be paid out of selling out my old flat latest by July 31,2019 failing which deal would be cancelled. Builder had issued receipt for said amount and a MOU on Rs.500/- stamp paper (NON NOTORISED) was signed thereof between me and the builder in which it was stated that the entire amount towards the flat would be paid by me latest by July 31,2019 else deal will be cancelled and said amount will be returned back upon selling said flat to the third party. Unfortunately I could not sell my old flat within said period. I informed builder accordingly vide my email that I could not sell my old flat within stipul
Answers (1)

Answer #1
866 votes
Hello, you must send a legal/demand notice to the builder claiming the amount! If he fails to pay back within stipulated time, you must file a recovery suit against him in RERA or civil court! Even if the contract is not notarized, it is signed by both the parties and is valid!
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