Refund amount for cancellation of booking a shop in an
christopher
(Querist) 25 September 2017
This query is : Resolved
Dear All
Want your Guidance -- I had Booked a Commercial Shop in an Under Construction Project in Pune , in the month of July 2016 and have so far Paid an amount of Rs 12.10 lakhs as payments towards the Shop .
I have not done the agreement so far, just have filled the Booking form and have made Cheque Payments , The Shop is likely to be handed over in March 2019
Now due to Financial Difficulties I am cancelling the Booking and want my Money refunded by the Builder
Need Help on the following Points
1 - How much Deductions will the Builder make while making the refund
2 - How Soon I should get my Money from the Builder ( irrespective of the builder finding a new buyer )
R.K Nanda
(Expert) 25 September 2017
1. depends on terms and conditions written on booking form.
2.time cannot be predicted.
P. Venu
(Expert) 26 September 2017
Legally, the builder can deduct the probable loss he may suffer because of the cancellation of the booking.