Revanta welfare society P2 zone

Q: Hi
I booked 3 bhk 1775sqft revanta kings court in 2014 and paid land amount after promising to provide possession in 2018 end. But after many follow up found no construction start yet. Asking refunding my money giving many excuse. Request to kindly suggest further.

16th June 2017

Legal in Delhi

cancellation of flat booking under rera

how to cancel my flat booking under rera?

rera in delhi

revanta welfare society p2 zone

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Replies (3)

According to the RERA Act, in force from May 1, 2017, a home-buyer may cancel the allotment of the property booked with the builder at any stage, even if the developer has not committed any defaults. Moreover, the promoter is liable to return the money paid by the buyer for the property, after deducting the booking amount paid for the allotment.

Sukhpreet, Delhi-NCR

5th July 2017

Comment

Right under RERA Act, a developer is bound to refund or pay compensation to allottees with an interest rate of State Bank of Indias highest marginal cost of lending rate plus two per cent, within 45 days of it becoming due. Intererest rates are expected to range around 11-12 per cent.

Udit, Faridabad

5th July 2017

Hi,
I would like to suggest you to read RERA rules in Delhi. There you will find the clause of refunding. Follow the rules of RERA and i hope you will get your money back.

Anand Roy, Ghaziabad

5th July 2017

Comment

I am agree with Anand....If the builder is not responding you may drag him to consumer court for deficiency in service and compensation for the loss as well as mental agony. You may also file a civil suit for recovery of money.

Prem Agarwal, Gurgaon

5th July 2017

Hi,
If you are suspicious about the project or the company itself, you may refer to the cancellation clause in the sale agreement and initiate to cancel the agreement quoting inordinate delay to start the project and you may also include that due to this inordinate delay, you have to go through the EMI burden. You may cancel the agreement and seek return of money after due and legal deductions.

Jeet Bhaskar, Delhi

5th July 2017

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