alwayscheerfull

I had booked a flat in Tambaram Project under Doshi builders on in july after paying Rs 1lakh as the booking amount. Subsequently, I had paid another Rs 3lakhs in september which I was told is the installment amount to be paid so as to enter into a sale agreement with me for this contract.Though I called up lot of times for the same it was told to me that the preparation of sale agreement will take time. After the sale agreement was finalised I was supposed to apply for the loan amount and thus proceed with the project.

I was working with Fidelity. I have lost my job now. I need to cancel the booking.
I want to cancel my booking but my builder is saying I will lose 10% of the total amount i.e Rs 40,000. I am ok if I loose Rs 10,000. Can somebody advice how to go about this?

ks2071746

Dear alwayscheerful,

You are not cheerful now with 10% off on your payments made to Doshi in their Tambaram West Project.
Doshi is a very reputed builder Grade-I in Chennai. They should be considerate to the individual who has lost the job and cannot afford to go ahead with the bank loan at the moment. You may meet the top officials of Doshi who would be very reasonable persons to explain about your plight and ask for the full refund. I think, they will oblige. After all, they have many flats still to be sold and were having your money since July 08 interest free.

ks2071746

abk

take the refund first and then bargain/plead for reducing the cancellation charges.by this even if it comes to fist- cuffs your money is safe

Sovi

Have you signed any agreement that said the builder will take 10% of the flat, if you cancel it?

wiseman

As others have said, you need to get hold of the 3.60 lakhs into your bank as quickly as possible. Take action on that immediately.

Secondly, you might want to simultaneously take good legal opinion to see if you could sue them about the legality in case you did not explicitly sign any papers agreeing to the 10% amount. So get all the papers signed by you scrutinised by a good lawyer. If there is any paper that you signed for which you have not been given a copy, you might want to check the legality of their enforcing that as well.

Lastly, after collecting your money, approach them and politely tell them that you are willing to forgo 10k but not 40k. Just in case they do not return the extra 30k, you will be forced to take enough action through other means - including spreading the word about them in various forums so that the monetary damage to them is much greater than the 30k. They should see the light of day when this proposition is made. In these markets no one wants any negative publicity at all.

cheers

ChennaiJagan

Yes, there is always an agreement between the buyer and the builder which, as usual, will always be in the interest of the bulder. According to the agreement any delay by both parties - delay in payment on the buyer part and, delay in handing-over on the builder part, is subject to penalty. In my case, I didn't receive any compensation(interest) when the builder, the very Doshi themselves, delayed the project by more than a year. Rather I used to receive bunch of letters of excuses. But, as ks2071746 has pointed out, I'm of the opinion too that Doshi Builders are very considerate and accommodative. It will not be difficult to convince them of your predicament. Remember, fail not collect the first available amoney first; trying to get extra is for follow-up.

Best Regards

Sovi

If you hadn't signed any document yet agreeing to pay 10%, then they can't take it. It's Doshi's mistake not having made you sign the agreement/registration-which is fortunate for you.

I would suggest you talk to Doshi first, if they dont agree, you have a valid case to go to consumer court (District Consumer Redressal Forum, Chennai). In that case, you'll get your money back (if you prove you hadn't signed anything to pay 10% on cancellation) along with a reasonable rate of interest.

ganzio72@hotmail.com

I am ganesan here. I am interested in investing in doshi nakshaktra project at tambaram. Can somebody guide me on correct sqft price for that area.

abk

2700- to 2900- check out east tambaram, chitlapakkam.selaiyur.I feel east tambaram a better place to live it has better educational institutes and lifestyle amenities

arin_12

1. If some one wanna buy flat in this location, you can get return the whole money
2. If you have lost job then you will never get a Loan from bank. So tell them the same and ask them to return the money.
3. Talk to some higher authority from the Company and explain the situation and ask them to make min lose.
4. Take the money what ever they are giving. Then go to consumer court and file a case. If you get then its you Luck.
5. Forget that money. Be happy what ever they give.

IT professional are never safe in their job. IT people are just like high class labor people. If you have job then you can do any thing, else no one will ask you. IT people are the Culprit for the unrealistic RE Bubble. Buy Buy Buy... Greed ... Show Off ...