I have a property Dispute – Builder is not willing to give refund.
Question – I had booked a shop in pre-launch scheme of XYZ properties project. Due to some personal financial urgency’s, i had requested XYZ properties to cancel the booking and refund the money paid to them. They are saying that the money will not be refunded in any circumstances because as per the cancellation clause 25% of the total value of the shop will be charged for cancellation and amount paid till now is less than 25% of the total value hence it will be forefieted. Since i did not visit their office at the time of the booking, i had not given my consent on the above clause, but one of my co-workers who went for booking had signed on my behalf. This clause is also printed on the receipts they had given against the money paid to them. I had requested them that the amount paid is not small for me and i have some financial urgency’s due to which i need my money back but they simply refused to refund it.
Is the money paid to the builder (about 5 lakhs) will really be forefieted due to the clause mentioned by the builder or is there a way to get it back? please advise the course of action ?
Name :- Ajay Pal Singla Delhi
Your booking of the flat/shop is in pursuance of a contract, with the builder. So, both of you are bound by the terms of contract. You cannot go against the contract and having paid the money, you cannot hope that the buyer will return it as the contract is in his favour. Further, the contract is signed and you have made payment in acceptance of the contract. Hence, repudiation is difficult.
However, what is stated above is a plain reading. If the entire contract is read we can find out whether there is any means for getting out and solving your problem.
Also, there is another way out. You can get a buyer and ask the property to be registered in that buyer’s name and you can get the money paid by you to the builder.
This is also a better option and you can get back your money without rubbing shoulders.