Forfeiture of deposit money
4 years ago
Dear sir/madam, I booked a property for an agreement value of 1.03 cr, I paid 2 lakh as booking amount and after that I paid 8.78 lakh towards down payment, so total down payment goes to 10,78,000. Now I found myself in a difficult situation to buy this property and want to cancel it. As per builder sales team they said your whole amount of 10,78000 which is 10% of agreement value would be forfeited. But as per the agreement it is 10% of consideration (earnest money) deposit will get forfeit in case of cancellation. Pleas advice how much money should get forfeit by builder in case of cancellation. I am attaching first page of notice which mentioned above clause. Please help.
A.Dear Sir,
You may find out a fault with builder and get issue a legal notice to cancel and to refund.
Please have PAID phone call with me through VIDHIKARYA and get more guidance.
You may find out a fault with builder and get issue a legal notice to cancel and to refund.
Please have PAID phone call with me through VIDHIKARYA and get more guidance.
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