Legal Question in Real Estate Law in India
advance money back from janachaitanya housing ltd?
taken a plot from janachaitanya housing ltd hyderabad on instalment basis. paid 80000 in advance for two plots. after 15/20 days of paying the advance amount , decided not to purchase the plot as the plot is 30-35 kms from present residence. Company is not willing to pay total money back to me. wants to deduct 50%. please advice what could be done.
4 Answers from Attorneys
Re: advance money back from janachaitanya housing ltd?
First Check whether any condition is put in the sale agreement.
if so, what are the terms.
if no condition is put, normally 10% will be deducted as cancellation charges.
Tell him to deduct 5 % to 10 % and not more, advise him that you will get a stay on construction for not repaying.
otherwise you can take legal course for recovery by filing a suit or taking him to consumer court.
B.Balasubramanya.
Advocate.
Re: advance money back from janachaitanya housing ltd?
It all will be basically governed by the terms of the contract between the parties. Since details of terms have not been provided, no comments can be offered.
Re: advance money back from janachaitanya housing ltd?
It all depends on the terms of agreement between you and the builder, which needs to be looked into in toto.
Re: advance money back from janachaitanya housing ltd?
Sir,
Since your breaking the contract, the company is entitled to retain the earnest you paid. You should negotiate with the company for the same.
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