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Token Amount Refund!

Last updated: August 1 2020
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  • Token Amount Refund!

    Hi guys,
    I paid a token amount of 58 lakhs + 2 lakhs token amount towards buying a flat here in Mumbai.

    The flat aforementioned is on the 14th floor.

    I was planning to take out a loan to pay out the remaining amount. (About 1 Cr)

    However, I found out through the loan agent that the builder doesn't have the required CC. They had a CC only upto 11 floors.

    I felt cheated since this wasn't mentioned while signing the deal.

    I immediately contacted my bank and stopped all cheques paid by me to the builder.

    Luckily I was able to stop them just in the nick of time and managed to salvage the 58 lakhs.

    However, the 2 lakhs token amount still remain with them and I've been trying to recover them for a few months.

    They have now gotten the CC for the floors above 11th and are insisting me to buy it for the same amount(citing the property prices have risen which i feel again is a lie)but I don't wish to go forward with the deal because I feel cheated and lied to.

    How do I recover the my token amount from these guys? Would it be worth it to pursue this legally?
  • #2

    #2

    Re : Token Amount Refund!

    Can you name the Builder & the Project? A thread may already exist on the Project and there could be other members facing similar issues. If a thread on the Project already exits, this thread would then be required to get merged with the original existing thread.
    Please read IREF rules | FAQ's

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    • #3

      #3

      Re : Token Amount Refund!

      Hi MANOJa,

      I don't feel comfortable sharing the names of the builder and project at this moment as I'm not sure how I'm going to proceed with this issue.

      Comment

      • #4

        #4

        Re : Token Amount Refund!

        If the details of the Builder/Project were available, the posts might have been much more meaningful and effective.


        This thread would be ultimately moved to its appropriate subforum - "Indian Property Laws", after some period.
        Please read IREF rules | FAQ's

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        • #5

          #5

          Re : Token Amount Refund!

          Originally posted by aakki View Post
          Hi MANOJa,

          I don't feel comfortable sharing the names of the builder and project at this moment as I'm not sure how I'm going to proceed with this issue.
          don't be afraid, simple file a complaint in rera

          as the CC date will show that when cheque was encashed they didn't have CC and they have to refund

          not a big deal, hope you have written email/letter proof as well

          Comment

          • #6

            #6

            Re : Token Amount Refund!

            I was told that the CC is provided in increments as the work progresses.

            Comment

            • #7

              #7

              Re : Token Amount Refund!

              Originally posted by heatals2 View Post
              I was told that the CC is provided in increments as the work progresses.
              Doesn't matters, legally only those units can be sold whose CC has been received...so consult a lawyer, and file complaint accordingly.

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