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Cancellation Fees After Finalizing Sales Agreement

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Cancellation Fees After Finalizing Sales Agreement

Last updated: November 17 2008
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  • Cancellation Fees After Finalizing Sales Agreement

    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 somebody share their views on how to go about this?
    Last edited May 11 2015, 07:33 PM.
  • #2

    #2

    Re : Cancellation Fees After Finalizing Sales Agreement

    10% cancellation fee is high.

    Due to economy turned upside down, such cancellations will be more now

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    • #3

      #3

      Re : Cancellation Fees After Finalizing Sales Agreement

      Hey,

      Try explaining to them your genuine case. That being a builder of repute, should give you due consideration. Consult a lawyer and see if there are any loop holes in your sale agreement. Gud luck

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