Results for #pre-launch
Purchase & Sales
#bookingcancellation#pre-launch
"Booked" an apartment in a pre-launch project in 2013. The expected completion date informed was 2017 but the project had severe delays. And now is estimated to be completed by 2021. Requested cancellation of the bookings several times since last 2 years but the developer claims that if I cancel then 50% of the down payment will be deducted as cancellation charges. I want to receive my full refund and even better with nominal interest, what can I do ?
"Booked" an apartment in a pre-launch project in 2013. The expected completion date informed was 2017 but the project had severe delays. And now is estimated to be completed by 2021. Requested cancellation of the bookings several times since last 2 years but the developer claims that if I cancel then 50% of the down payment will be deducted as cancellation charges. I want to receive my full refund and even better with nominal interest, what can I do ?
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Answered on November 08, 2017
Are the grounds for delay due to force majeure conditions, beyond the control of the developer?
If not, can you please elaborate the terms in your agreement? Is there a termination clause in the agreement? What is the possession date specifically mentioned in the agreement?
On grounds of inordinate delay, you can approach the developer to amicably settle the matter. However, if that does not wo...
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Legal
#pre-launch#bookingcancellation
Booking cancellation - is it allowed to cancel a booking made during the pre-launch (2013) of the project, where the project has now revised its possession date by 5 year vs what was indicated during the pre-launch booking (initially indicated possession date 2017, now revised to 2021) ?
Booking cancellation - is it allowed to cancel a booking made during the pre-launch (2013) of the project, where the project has now revised its possession date by 5 year vs what was indicated during the pre-launch booking (initially indicated possession date 2017, now revised to 2021) ?
Answered on November 08, 2017
You can cancel the booking if the promised date of possession is revised.
