Hello,
I booked a flat in Noida Extension with Geotech Homz - Pristine Avenue project. The plan through which I agreed to pay was called Super 20 which is 20% into 5 installments after every fifth month. The reason I selected the plan that it would not be a complete burden on me right away. The agent and builder assured me that this plan is approved from banks. I made first 20% payment during booking and now the second payment of 20% is coming up. Now I am getting the response from the banks that this plan is not approved. I tried AXIS and HDFC(I have mails from HDFC and AXIS both). The plan which is approved with banks is CLP but not this one which builder has given me on agreement.
Now due date is coming in first week of June and my loan is still not approved due to discrepancy in payment plan. If I cancel the booking there is provision of 10% deduction while doing the refund. If I delay the payment there is 24% interest on the due payment. This is really frustrating.
Can somebody advise whether I am eligible for full refund as per the law since there is fault from builder's side?
Thanks so much for your help.
REgards,
Rishabh
