Flat Cancellation After Agreement

4. Was there a clause stipulating how many days after the termination of the contract you will recover the refund of your advance after the necessary deduction? Dutta and Bhattacharyya thought they were going to receive a lot and wanted to book the apartment immediately, so they paid the booking amount of 5 Lakh by bank transfer. But things didn`t go as planned. “We only searched one day and stumbled upon old cases against the prime contractor in the Consumer Court for late possession and non-restitution of money. Now we are skeptical as to whether we continue or not. We plan to visit the site and talk to people who already have the property and then decide. The owner has promised a 100% refund if we cancel after a visit, but given his record, we are not sure,” said Ms. Dutta. What happens after you have decided to cancel the booking of an apartment depends on the terms and conditions of the contractor-buyer contract and the validity of that contract – that is, whether the owner-buyer contract has been registered. 6. Send a legal opinion to reimburse you for the 10% of the lump sum value mentioned in 28.2.2015 if you do not file a claim with the Local District Consumer Dispute Redressal Forum, which claims a lack of unfair business services and practices requiring reimbursement of this amount, interest, damages and fees. If you pay a deposit amount, make sure you have some kind of documentation to help your case.

“Save all confirmation documents received instead of a payment, especially if there is no agreement. Pay by cheques or wire transfers instead of cash, so that there is a paper trail. Keep all letters of attribution, confirmation letter, copies of the application form and other documents safe so that you can claim a right when needed,” said Abhinav Kaul, Vice President, Strategic Partnerships, BankBazaar, an online marketplace for financial instruments. 3. In this case, 10% of the total value of the dwelling to be dilapidated is an unacceptable clause that cannot remain in the agreement. Joydeep Karmakar was happy to give up rent and become a landlord when things stopped. The 43-year-old, who works in the travel industry, had paid bail on his savings to book an apartment in a full-fledged building and borrowed to finance the rest, when he was suddenly without constant income. Karmakar realized that the impact of covid-19 on its sector and revenues would not be short-lived, and decided to opt out of the purchase. But when he tried to cancel the reservation, the owner told him that he would not get his deposit back. “He said he reinvested the money in the project, so he couldn`t pay it back,” said Karmakar, who is already tied up for cash, and losing the deposit amount is the last thing he needs. 3. The owner is not allowed to delay the transfer of 10% of the lump sum value until he finds a potential buyer.

The owner cannot travel outside the four walls of the agreement. If the contract allows the owner to refuse the return of the balance until he does not find a new purchaser, such a clause is illegal.