Apni Law Staff asked 2 years ago
I booked a flat in Panvel back in 2013, and the builder promised possession by 2015 or 2016. The initial allotment letter didn’t mention a specific possession date. Later, they issued a new allotment letter changing the payment schedule, which I didn’t agree to. I want to either transfer or cancel the flat, but the builder insists on a 5% penalty for cancellation and forbids transfers. They also say the refund will only happen after finding a new buyer. I’ve already paid around 40% of the total cost. What are my options?
Best Answer
Apni Law Staff answered 2 years ago
You can approach the Maharashtra Real Estate Regulatory Authority (MahaRERA) to seek redressal. They can intervene and enforce your right to a refund or transfer, potentially mitigating the builder’s imposed penalty. MahaRERA provides a platform to resolve disputes between homebuyers and builders, ensuring your rights are protected.
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