Booking cancellation.

Q: Once apartment booking wanted to be cancelled. What is the procedure to contact builder. What is their reaction? Will the builder repay the booking amount?

Narain, Apartment Resident, Chennai

28th February 2012

Buying property in Chennai

Follow Discussion

Also see discussions for

Chennai Buying property Buying property in Chennai

Replies (3)

Yes, you are right Dear, Cancelling any type of property involves several official formalities. It is not the best way to send e-mails regarding request of cancellation. A lawyer can help you out with all written correspondence as well as with filing a complaint in case you feel your rights have been denied in any way.

Raghav TK, Chennai

15th December 2015

Comment

Must read article which guide you in more details: https://www.commonfloor.com/guide/5-things-to-know-when-cancelling-an-apartment-booking-50445.html

Anil Kumar, Chennai

15th December 2015

What is the procedure for cancelling an apartment? Two Months back I have booked an apartment, but now due to some unavoidable situation and getting bad reviews of this project I decided to cancel my booking, Construction has not started yet, will I be chargeable?

Rishi Dev,

15th December 2015

Comment

Hello Dev,
Please read your agreement paper, whether there is any provision written in the document. If yes, then follow that only. Usually, builder deducting some amount as a cancellation charges and will repay the rest amount. For booking cancellation procedure you have to talk with your legal experts.

Anoop K, Chennai

15th December 2015

As per my knowledge, most of the cancellation instances occur due to buyers reconsidering their financial circumstances or unnecessary project delays. Some important thing that I want to share with you, Information related to cancellation clauses is usually written in Builder-buyer agreements including a sale agreement or property allotment. Go through the documents in detail as cancellation will be subject to the terms mentioned.

Sreeshayam, Chennai

15th December 2015

Thanks Anoop, I am highly obliged with your valuable feedback. Could you tell me What document should I keep in mind while cancellation of Property?

Rishi Dev,

15th December 2015

Hello dear, I think you should keep copies of all documents which you have signed at the time of booking like agreement paper also save any acknowledgement document you receive, especially in lieu of a payment. It is best to pay through checks or other recordable modes rather than cash.

Anoop K, Chennai

15th December 2015

Keep all communication in writing. Verbal assurances and promises will not hold in a court if a complaint has to be filed. Any VAT or service Tax paid will not be refunded in case of a cancellation. Application forms, acknowledgement or allotment letters may also contain terms and conditions of a cancellation which can be used to claim refunds from the builder

Sreeshayam, Chennai

15th December 2015

Hi Dev,
I think to avoid any consequences if you are planning to cancel an apartment booking take help of legal counsel. A legal expert will be able to help you out with the whole procedure and ensure that you get refunded what you deserve.

Awar Ali,

15th December 2015

Hello Narain, The will be deducting some amount as a cancellation charges and will repay the rest amount. For booking cancellation procedure you have to talk with your legal experts.

Alex Stephen, Chennai

29th February 2012

Comment

Ask a Question

Related Forum Discussions

CYTOTEC PILLS AL SATWA 00971582797025

REPLIES

REPLIES

Jual Obat Aborsi Tangerang 082323607616 Harga Cytotec Gastrul Mifepristone COD

IN DAMMAM (+27717104310) ABORTION PILLS FOR SALE IN DAMMAM, SAUDI ARABIA

REPLIES

What are the amenities offered by builder in Hiranandani parks Chennai?

REPLIES

View more Discussions(+)

Follow A Topic

CommonFloor Property Search Mobile App now available on Android, iOS and Windows!