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How much cancellation fee is deducted in projects?- PRoperty Hotline
Posted
August 10, 2016
Views
465
Likes
5
Engagement
1.08%
August 10, 2016
465
5
1.08%
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2:02Now PlayingExpert: Vinay Singh, Legal & Tax Expert.
Question: I booked a 1 BHK at Indiabulls Golf City at Saroli Phase-2 in May 2013. This was done via the 80:20 schemes with a total value of Rs31.5 lakhs with a commitment of possession in 2016. The builder has delayed the project. I wish to cancel my booking and get back my money. The builder says 5% will be deducted as cancellation fee on the whole amount. This is unjustified. What should I do?
Answer: You can pay the cancellation fee under protest and later file a case with the consumer forum to recover the same with interest. This way, only a small portion of your money is blocked.
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