Q:Zodiac property in R tower has been delayed . I want to surrender my flat please advise the procedure. Can we form a group and initiate legal proceeding to get our money back?
Latest Answer: Hi,
You must have been given a receipt of the booking amount by your builder. The receipt must be mentioning terms and conditions. Send an email to builder that you want to cancel the booking and request builder to refund your booking amount. Let your builder mention in writing that 5% or 10% of paid amount would be cancellation amount. Accept the deduction under protest and then move consumer forum against builder for refund of balance amount with interest.
Latest Answer: Hi,
If developer refuses to pay back the booking amount even after the presence of clause in the agreement, buyers can file case in consumer forum asking for refund with interest.
Or, if the project has been delayed or has not started for a long time, buyers can ask for a complete refund. However, buyers must know that if they have paid stamp duty, registration charges, service tax and VAT, it will not be returned in case of cancellation.
Q:Hi, If you have booked a flat and the agreement has not yet been signed and you want to cancel the booking, what is the option? we booked a flat in 2013 August and the builder has promised delivery in Dec 2017 yet neither they have got approvals as yet nor the agreement has been signed. What is the remedy in such situations?
Latest Answer: Did they make any commitment regarding return of booking amount. Some builders do tell you that they will refund the money immediately or will not deposit the cheque till you confirm to them within some short period. Try and keep correspondence in writing about refund of booking.