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Agreement Cancellation
January 15 2009 , 03:23 PM   #1
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Agreement Cancellation

Hello Friends,

I've booked a flat in July 2008 at Pune and will be getting possession in Dec-2009.
I’ve paid 10% as booking amount and paid Rs 2 lacs towards registration. Now property rates in the area came down substantially and the builder is not ready to lower the price for already registered members.

According to builder I can cancel agreement but the booked amount I'll be getting only after he will be able to sell my booked flat.

I'm OK with delay if I get all my paid amount to builder.

I wanted to know if I can cancel the agreement and do I get refund of registration duty paid to Government.

Information on this much appreciated


Thanks
Sunil
January 15 2009 , 04:05 PM   #2
abk
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no

Quote:
Originally Posted by desaisunil
Hello Friends,


I wanted to know if I can cancel the agreement and do I get refund of registration duty paid to Government.

Information on this much appreciated



Thanks
Sunil
govy does not refund that.
the reg charges were for registering the agreement.cancelling it is your choice.
you may have to pay some charges for cancelling it too,another document.
January 15 2009 , 05:00 PM   #3
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Thanks ABK

So I'll be loosing all my amount if I cancel the agreement.
My builder had given me one more option to pay remaining amount in advance, then he can think of giving me rebate in arte. How much it is advisable to pay him the amount?
January 15 2009 , 05:11 PM   #4
abk
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Quote:
Originally Posted by desaisunil
Thanks ABK

So I'll be loosing all my amount if I cancel the agreement.
My builder had given me one more option to pay remaining amount in advance, then he can think of giving me rebate in arte. How much it is advisable to pay him the amount?
when you desire to cancel your booking there is no sense in paying him more.he might be taking u for a ride.calculate your losses and if it still makes sense to exit then exit fast.take the loss and forget it. the builder has everything to gain in prolonging the issue you have everything to lose.
if the rebate is worth it then get it in writing and go ahead.from now on see that every payment is documented
January 16 2009 , 11:21 AM   #5
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thanks abk for advice!! I will take a note of it.
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