Property booking cancellation and getting refund token amount
2 years ago
Hello sir
Recently I booked a property under construction with 50K token advance payment. Was a little concerned on my part and at the end of the builder I canceled the booking and asked for my money back which I had paid to the builder in the booking form.
Overall I should say, so far I have not seen followings at the time of booking.
1. Payment Receipt
2. Allotment Letter of my booking amount.
3. No set of legal documents to verify with property lawyers etc
After a lot of fighting now the builder has sent out an email confirming that the amount. but per the company policy it will take 60 working days to refund the amount, they said.
Additionally Requested me to send my PAN card copy to initiate the process
My queries here are:
1. Does really PAN is necessary to get the token amount back? If not are they going the deduct GST on my token amount while refunding it.
2. Do I also need to wait for 60 days of time to owe my money back from them?
(As they not made me aware of their refund policy at the of collecting token advance from me, I haven’t signed any buyer – seller agreement as of today or any terms & condition)
Can you please help me on this how to deal with them and get token advance back at earliest.
Nothing is required while getting a refund of your advance amount when you are not shared PAN number at the time of booking. Better get atleast post-dated cheque and thus recover the amount.
As per the facts mentioned, as you’ve paid the token amount on your own will without signing any agreement or received any payment slip. Thus, either you should wait it out or you can consult an advocate and ask for advice.
Subhashis Paul
Responded 2 years ago