When will I get my money back?

Q: Booked a plot in Wadaki..They started asking for black money to register the plot..upon refusal they cancelled our plot..They issued post dated checks which got bounced. Filled a case under negotiable instruments act under Pune Cantonment court with case code as: 203406025112014

Sourav banerjee,

29th December 2014

Legal in Pune

booking cancellation

hadapsar real estate

nine jewels paradise phase 1

nine jewels paradise

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Replies (5)

Check what your booking forms say. Usually builders protect themselves against these kind of unexpected bookings and keep either the whole or a good chunk of the booking amount.

Vinay Sharma, Pune

30th December 2014

Comment

Since no registration is done there is no obligation on your part while there shouldn't be any problem for the builder in refunding you the amount as per his refund policy. Standard answer from most of the builders when you approach them for flat cancellation is that it will take at least 45 days to refund. Please return your original receipt to process the flat cancellation request. We will try to sell the flat to new customer & then refund you the booking amount

Siddharth Rana, Pune

30th December 2014

Comment

As long as the reason sounds genuine, cancelling a flat should not be a problem, however, getting back your money from builder quickly will be a big problem. And likely chances of you not getting back 100% refund.

Give your builder a letter (hand written/typed) mentioning cancellation of the said flat for personal reasons and request him to refund your booking amount in 7 days. That's it.

Siddharth Rana, Pune

30th December 2014

Comment

So, even though a buyer thinks that a delay in delivery or change in original building plans is reason enough to seek cancellation, the builder is unlikely to see reason in the argument and is won't to refer the delay in all projects. Sometimes, the builder may not have the money if too many projects are being cancelled.

Siddharth Rana, Pune

30th December 2014

Comment

Approach the builder with a genuine reason for cancellation. While defining a genuine reason is difficult, a developer is more open to concessions on humanitarian grounds rather than ones that highlight his shortcomings.

Vinay Sharma, Pune

30th December 2014

Comment