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Author :
Ram Kalyan Sar
Posted On 23 May 2012 at 01:46
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Builder came to my home and took the booking amount through Credit Card (Rs. 100,000/-. He told me on the site that the amount is totally refundable within 20 days. Now when I face some hassle in the finance and want to decline the deal, he says its not at all refundable. Only when loan does not get sanctioned or any legallity lacks in the property documents, i can get the money back. Now I have a receipt and the CC statements with builder's name. But builder says the login form that I signed has a term of "no refund" in case the customer choses to decline. Is this legally allowed. Is any organisation allowed to keep a non-refundable amount for booking as high as Rs.100,000/- please advice. Am I bound to wait for a loan rejection OR go for the agreement? OR I can take some legal step?
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Expert :
Nadeem Qureshi 9953809956
Posted On 23 May 2012 at 09:42
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Dear Querist
it's depend on the agreement execute between you and builder, what are the terms and condition of the agreement? after that I can give you the best opinion.
feel free to call
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Expert :
sankar narayanan
Posted On 23 May 2012 at 11:24
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well said by mr nadeem, i do agreed with his opinion
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Expert :
R.K Nanda
Posted On 23 May 2012 at 11:25
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Send a legal notice to builder and demand refund of ur booking amount in 7 days time.
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Expert :
ajay sethi
Posted On 23 May 2012 at 14:37
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the problem is you pay sum of rs 1 lakh without obatining any document in writing from the bulder . you ought to have mentioned terms and conditions for paying token money .
have you amde application for loan . bank will ask for certan loan documents then only sanction laon . if buidler is not able to give those documents loan will be rejected .
what is value of property ? if you like the property go in for agreement after obtaing bank sanction for loan .
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Expert :
Suhail A.Siddiqui
Posted On 23 May 2012 at 21:08
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Without considering agreement with builder, we can suggest furnish him notice along with reason of cancellation.
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Expert :
Shonee Kapoor
Posted On 01 June 2012 at 08:48
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Agreed with Ld. Sethi and Ld. Suhail.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
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