Cancellation & Refunds
Cancellation Terms
Refund Timeline
We aim to process all eligible refunds within 15 business days from the date of approval. The actual time for the refund to reflect in your account may vary depending on your payment method or bank processing times.
Voluntary Cancellation:
If an applicant wishes to voluntarily withdraw their application, they must submit a written request at the office of the developer/firm. After cancellation, the application amount will be refunded after deducting administrative charges. The remaining amount will be returned without any interest.
Cancellation Before Allotment:
If the cancellation request from the applicant is received before the date of the allotment, only nominal administrative charges will be deducted, and the remaining amount will be refunded.
Cancellation After Allotment:
If an applicant who is successful in the allotment declines to take the flat for any reason, then the developer/firm will deduct a specified amount (processing charges/administrative expenses), and the remaining amount (without interest) will be refunded.
Cancellation Before Possession:
If the allottee requests cancellation before taking possession of the flat, the developer/firm will evaluate the situation and refund the remaining amount after deductions as per applicable rules.
Cancellation After Possession:
Once possession of the flat is taken, cancellation will not be accepted. In such cases, only resale/transfer procedures will apply, the terms of which are defined separately.
Cancellation by Developer/Firm:
If the applicant violates any terms of the application or allotment, such as:
Providing false information
Unauthorized use of the flat
Non-payment within the stipulated time frame
Then the developer/firm has the full right to cancel the allotment without any prior notice. In such cases, the developer/firm also reserves the right to partially or fully forfeit the application/installment amount.
Scheme Cancellation Due to Natural Disasters or Legal Issues:
If the scheme has to be cancelled due to a natural disaster, court order, or any unforeseen reason, all applicants will be refunded their amounts without any interest. In such situations, no compensation can be claimed from the developer/firm.
Refund Provisions
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Before the Priority Allotment Draw:
If an applicant submits a written request with valid reasons for a refund before the organization of the priority lottery, the entire deposited application amount shall be refunded without any interest. -
After the Priority Allotment Draw:
If the refund request is submitted after the priority lottery has been conducted, the application amount will be refunded after deducting administrative expenses, and the remaining balance will be returned without interest. -
Application Rejected Due to Incompleteness:
If an application is rejected due to any deficiency, the deposited amount will be returned via a crossed cheque sent by registered post to the address mentioned in the application form. No interest shall be payable by the developer/firm for this period. -
Non-Payment After Demand Letter:
If the allottee fails to deposit the amount mentioned in the demand letter within three months, interest at 18% per annum shall be applicable on the due amount. If the delay exceeds three months, the reservation will be considered automatically cancelled. -
Project Not Materializing Due to Unforeseen Reasons:
In the event the proposed scheme does not materialize due to any unavoidable circumstances, the application amount shall be refunded to all applicants along with 9% annual interest. -
Joint Applicants – Partial Withdrawal:
If any one of the joint applicants chooses not to proceed with the flat allotment, the developer/firm will cancel the application and refund the deposited amount to the address mentioned by the primary applicant, as per records.
