Is it right for builder to deduct hefty amount for booking cancel?
I applied for booking of a commercial unit total cost of which is 42 Lac. Possession is after 1 year. I paid 26% i.e. ~11 Lac for booking. BBA is out from builder but I have not accepted it, so it is not signed yet. Now I decided to cancel the booking. Builder is saying he will deduct 15% of total cost i.e 6.3 Lac from the booking amount 11 Lac. He claims that this 15% deduction is mentioned in the application form which I signed at the time of booking. Is it right for builder to deduct such a hefty amount when BBA has not executed yet?
Hello sir,
If you have signed the agreement related to the booking clause and there it is mentioned that upon cancellation of the agreement the builder is liable to reduce the amount as give in the agreement and if it is not mentioned then you can send him the legal notice
to know more in detail please call on our helpline number
thank you
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