Cancellation & Refund Policy

SCRUTINY, REJECTION AND REFUNDS:
Applications remaining incomplete or deficient in any respect and/or not accompanied by the required remittance is liable to be rejected at the sole discretion of the Entity. Applications containing information known to the applicant, as false, are liable to be summarily rejected and allotment shall stand cancelled at any point of time, even after the allotment has been made. Upon such cancellation, all the amounts paid will be refunded without any interest but after deduction of applicable service charges and consequential GST, hereafter mentioned.

 

WITHDRAWAL OF APPLICATION/CANCELLATION OF ALLOTMENT:
Upon withdrawal/ cancellation of the booking by the Allottee (s), before issuance of allotment letter, the money paid by the allottee (s) shall be refunded to the Applicant without any interest and after deduction of Rs 15,000/- (Rupees Fifteen Thousand only) of the Application Money, plus applicable Taxes thereon, towards service charges. The Allottee(s) hereby agrees/ agree to such interest-free refund and the deduction by the way of service charges and further agrees/agree not to raise any objection for deduction of service charges. In addition to service/ cancellation charges, statutory deductions, including GST and others, on such cancellation, will also be borne by the allottee. All monies paid by the Entity on behalf of the Allottee(s) prior to such withdrawal/cancellation shall be non-refundable. Applicants are free to withdraw their application and cancel their booking at any time even after issue of allotment letter, but before the possession of the apartment is made over. In that event the total deposit of installment paid by the allottee will be refunded without any interest and after deduction of service charge of 10% (Ten percent) of the property value (Flat cost) + applicable Taxes on service charges and the entire sum of GST paid on behalf of the allottee by the Entity. Any GST paid by the Entity on behalf of the Allottee(s) will not be refunded and would be adjusted against such refunds made. All such refunds to residents and Non-Residents Indians (NRI) / Foreign citizens of Indian Origin shall, however, be made in Indian Rupees within 90 days from the date of issuance of the cancellation letter. It is clarified that no claims for any damages shall be tenable in the event of cancellation of the allotment on any grounds whatsoever.

 

DELAY IN PAYMENT & CANCELLATION:

It shall be incumbent on the allottees to comply with the terms of payment in respect of the apartments, parking spaces and any other sums payable under the General Terms & Conditions. Timely payment shall be the essence of each transaction. Payment of allotment money is required to be made within the stipulated due date as mentioned in the allotment letter. No extension of time will be allowed for payment of allotment money. In case allotment money is not paid within the due date, the Entity reserves the right to cancel the allotment without any reference to the allottee, and the application money would be refunded after deduction of the service charges of 10% (Ten percent) of the property value (Flat cost) + applicable taxes on service charges and the entire sum of GST paid on behalf of the Allottee by the Entity. The Allottee(s) agrees/ agree to make payment of the price and / or the installments on the due date in the manner mentioned in the provisional Allotment Letter. Any delay beyond the due date will attract interest @ 15% (Fifteen Percent) p.a. for the entire period of delay or up to the date of cancellation as the case may be. Part payments will not be accepted after the due dates. Any payment made would be first utilized by the Entity towards recovery of GST dues from the allottee(s) before carrying out adjustments against other dues. Unless, it has been waived or concessions given in writing, the Entity reserves the right to claim interest on delayed payment till the possession is handed over to the allottee for any period of delay made at any point in time. In case of any delay the Entity reserves the right to cancel the Allotment, without any reference to the allottee. At such cancellation, out of total deposit or installments paid by the Allottee 10% (Ten percent) of the property value (Flat cost) + applicable taxes on service charges will be deducted by way of service charges in addition to GST paid by the Entity hereinbefore mentioned. Thereafter overdue interest for the delay in payment of dues till the date of cancellation, would be recovered along with applicable tax thereon and the balance amount will be refunded to the Allottee without any interest on the amount paid by the allottee towards the property. All payments received will be first applied towards GST, applicable interest and other sums, if any due, and thereafter towards the principal amount against flat and car parking charges. On such cancellation, the allottee shall have no right, title, lien, claims or demands whatsoever against the allotted Apartment, Parking space and allied facilities. If any of the payments by drafts/pay orders/cheques made by the Allottee is dishonoured for any reason whatsoever, the Entity shall at its option be entitled either to cancel the Allotment and refund if any, all payments made by the Allottee without interest, after deducting the service charges @ 10% (Ten percent) of the property value (Flat cost) + applicable taxes on service charges and the GST amount and amount of Bank Charges and applicable GST for each such dishonour of drafts/ pay orders/ cheques as may be decided by the Entity to be paid forthwith on demand.

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