Cancellation & Refund Policy
Cancellation & Refund Policy
In case of cancellation made up to 15 days prior to the start date of the event, a 10% processing charge will be levied on the net amount before refunding. All refund will be made manually through cheques/ DD/Banker’s Cheques and transaction costs in indian rupees (if any) will be borne by the payer.
1. The timely payment of each installment is of the essence of this Allotment Letter. Please note that if you fail or neglect to make the timely payment of the amount and/or any installment, you shall be liable to pay interest from the due date of payment of each installment until payment and/or realization thereof whichever is later. In case of any delayed payments, the payment will be first appropriated towards statutory dues such as GST and interest if any, and the balance if any will be adjusted towards the installment dues and this would be without prejudice to the Company’s right to terminate the allotment / Agreement for Sale / Agreement to Sell and forfeit 2% of Agreement Value OR 10% of any such amount paid till date, whichever is lesser. Plus the brokerage charges (if any) paid by the developer. The developer is not liable to refund or cause to refund the brokerage charges (if any) paid towards the allotment of the unit. Refund by the developer in case of cancellation clause including CGST/SGST refundable as per law by the developer.
2. In case of the delay and default in making payment of the subsequent installment amounts required to be paid from time to time including the Miscellaneous charges and fees (as defined below) and taxes (in present and in future), is more than 60 (sixty) days from the due date, then the Company without prejudice to its rights and remedies available in law, reserves the right to cancel the booking / terminate the Agreement for Sale and treat this allotment of the said Unit as automatically cancelled and/or revoked without requiring to send you any notice in this regard and to forfeit 2% of Agreement Value OR 10% of any such amount paid till date, whichever is lesser, as liquidated damages. The Company shall also be entitled to deduct the amount of interest accrued if any and refund the balance amount without interest if any to you. It is clarified that forfeiture as aforesaid will be without prejudice to the other rights and remedies available to the Company including losses/damages incurred or suffered in this regard.
3. You shall not be entitled to transfer/assign all or part with your interest or benefit factor of the said Unit without the prior written approval of the Company and only on or after payment of all the dues / total consideration payable by you and subject to the payment of necessary administrative charges to the Company.
4. On or before making payment of 19% (Nineteen Percent) of the consideration value or within 45 (forty-five) days from the date of this letter as and when called upon, you shall submit the Pay Orders / Demand Drafts for Stamp duty and registration charges in indian rupees along with Bank confirmation letter to enable us to prepare sign and execute the Agreement for Sale/Agreement to Sell and getting the same stamped and registered.
5. You shall sign & execute the Agreement for Sale/Agreement to sell within 7 days after the duly franked and shall attend the office of joint Sub Registrar, Mumbai on the same day for registering the Agreement for Sale/ Agreement to Sell.
6. Other Payments in present and in future such as property tax, maintenance charges (including maintenance of infrastructure; garden and landscaping; road and street lighting; provision of security services; a proportionate share of outgoings as may be charged; support services as may be provided; installation charges towards water/electricity connection [including initial costs and monthly charges as applicable]), legal charges, development charges, infrastructure charges, Club House fees, and maintenance charges, etc. (hereinafter referred to as the “Miscellaneous charges and fees”) payable at the time of possession.
7. The Company shall always have the first charge and/or Lien on the said Unit until the complete payment of all dues payable, including but not limited to dues under the Agreement for Sale/Agreement to Sell, charges and fees, taxes, and interest applicable thereon, etc.
8. You shall obtain our prior written permission in the event you avail of home loan facilities from any banks / financial institutions for making the payment of final installment on possession. In such an event, on receipt of the full consideration, the Company shall handover the original executed and registered Agreement for Sale/Agreement to Sell to the Bank/financial instructions, subject to the discretion of the Company. Further, you shall be solely responsible and liable to ensure that the payment of the Consideration Value as and when due is made by the Bank/financial institution without any objection or demur. You shall be liable for making good to the company of any such delays or defaults by the banks or financial institutions.
9. We shall be entitled to obtain loans against the security of the said Property/Buildings and shall be liable to repay the said loans.
10. In case you commit a breach of the terms or neglect to comply with any of the conditions mentioned herein, the allotment of the said Unit before or after the execution of the Agreement for Sale, the Company shall forfeit 2% of Agreement Value OR 10% of any such amount paid till date, whichever is lesser, plus the Company shall also be entitled to deduct the amount of interest accrued if any and the Agreement Sale/Agreement to Sale shall automatically stand cancelled & revoked without requiring us to send to you any further notice.
11. Applicable CGST/SGST and other taxes by whatever name called (as may be applicable and levied by the Government from time to time) will be payable on agreement value on actual, as and when called upon to do so. (These rates are valid as on date. Any change in tax structure will be collected on actual.)
DISCLAIMER – The designs, plans, specifications, facilities, dimensions, and images, etc. are only indicative and for representative purposes only and subject to the approval of the respective authorities. The owner/ developer reserves the right to change the same, without any notice or intimation. The omission of providing any of the said amenities or facilities shall not constitute a breach and/or ground for Litigation against the Owner/Developer. Refund by the developer in case of cancellation clause including CGST/SGST refundable as per law by the developer.