I booked a flat in Pune and paid a booking amount of ₹1 lakh three months ago. The project hasn’t been approved by any bank yet, and the builder wants to return only ₹50,000. Should I send a legal notice to get the full amount back? What’s the best course of action?

Apni Law
Apni Law
Law Forum › Category: Property › I booked a flat in Pune and paid a booking amount of ₹1 lakh three months ago. The project hasn’t been approved by any bank yet, and the builder wants to return only ₹50,000. Should I send a legal notice to get the full amount back? What’s the best course of action?
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Apni Law Staff asked 11 months ago

I booked a flat in Pune and paid a booking amount of ₹1 lakh three months ago. The project hasn’t been approved by any bank yet, and the builder wants to return only ₹50,000. Should I send a legal notice to get the full amount back? What’s the best course of action?

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Best Answer

Apni Law Staff answered 11 months ago

Under the Maharashtra Real Estate Regulatory Authority (RERA) Act, you are entitled to a full refund, including the booking amount, if the project doesn’t receive bank approval. Sending a legal notice demanding the full amount, along with a complaint to RERA, is the recommended course of action.

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