How can I cancel purchase agreement and get refund?
Under Construction Prop in Panvel, MH Deal 65L for Flat, 40L is loan, Builder tricked to pay Own Contribution of 25L. before sharing Draft of Agreement To Sale (AtoS). Draft had multiple mistakes and many Documents were not shared with us, We said we want to cancel the Deal and need Full Refund, once he agreed and later turned back on his promise. Now says as per Booking Form 10% of total consideration amount would be charged as cancellation Fee, which would be 6.5L, I searched all over and found I should have had paid him only 10% to execute the AtoS and refund is just the initial booking amount as per RERA Payments we made were 1L 08Thousand as initial booking amount, later 5L and thereafter the remaining 18,92,000, AtoS is not executed. What is right - RERA rule of initial booking amount OR 10% of Booking Form, i dont have the booking form with me.
Initial booking amount was 1L 08Thousand, so the builder could only charge you 10% of that amount, which is 10,800. The fact that you do not have the booking form with you does not change the applicability of the RERA rule. The builder is still obligated to follow the RERA rules, regardless of whether or not the booking form is available. If the builder refuses to refund you the remaining amount of your deposit, you may want to consider filing a complaint with the Maharashtra Real Estate Regulatory Authority (MahaRERA). MahaRERA is responsible for enforcing the RERA rules in Maharashtra, and they can help you to resolve disputes with builders. For further enquiry Contact us on helpline number.
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