How Can BK Singh Advocate Assist You With Builder Refund Disputes While Avoiding Costly Mistakes?
If you have either been cheated by builder by not getting possession on time, cancelled your allotment or changed your mind or builders are not ready to refund your money then you lose money but there are many more losses. You become the prisoner of loan EMI. You have pressure from family members and friends to buy an house. You have to bear the rent of house you are living. Your hard earned money is stuck with builder and you become his permanent guest who will come to you to give false promises.
You want to know the what steps to be taken to tackle your builder refund case. Do you need to send notice to Builder or take back your money less amount or sign the cancellation deed provided by builder or settle the matter. We will guide you in the right direction depending upon your needs.
LEGALS365 / BK Singh Advocate can help you out with your case if you have purchased a property or plot from a builder. Just let us know your requirements and we will guide you on how to initiate action.
Have a Builder Refund case? Send us your documents, we will review them and help you decide before you take back a refund amount from builder or sign any settlement / cancellation documents from builder.
Why Can a Builder Refund Become Legally Complicated?
Builder refund does not always mean that you directly ask the builder to refund your money. There are many parameters involved in this. How much money you have paid? Agreement for Sale, Date of Possession, Project Cancellation policy, Is project RERA registered? Correspondence you have with builder and why do you want refund from builder.
All these things have to be analyzed before you decide to take any further step.
As mentioned above there may be situation where a buyer wants refund due to delayed date of possession and some who want to cancel the booking before date of possession. Depending upon the problem you have with regard to a project helps us understand if you have a case against the developer under RERA, Consumer court or Under contract.
At BK Singh Advocate we first try to analyze the above information for our buyers before we guide you towards taking any further step.
This does not imply that we would like you to initiate a legal proceedings against every builder. What we aim to assist our clients with is how much can you actually claim from the builder, on which ground you can claim and what all you should avoid.
What Does a Builder Refund Usually Mean?
Builder Refund generally means the situation wherein the buyer/allottee can ask for his money back if he is legally allowed to get out of deal or if he wishes to get his money back. The facts may differ from case to case depending on the agreement and the law that is applicable to that agreement.
Under section 18 of RERA act, if the promoter fails to complete the project or is unable to provide you with the possession within the terms mentioned in agreement for sale or the specified timeline then as an allottee, you can seek refund along with interest and other compensation which can be granted to you under the act.India Code
However, we cannot generalize and say that you will always be eligible for refund because you are a buyer.
Why Should You Avoid Accepting a Builder's Refund Offer Immediately?
It is good if buyer gets refund quickly. He may be waiting for last couple of months/years to get that money from builder. But main thing is what kind of agreement they are going to make you sign while taking the amount.
Buyer should aware about following points while accepting deal from builder.
- Full & Final Two worksheet symbols
- No interest claim
- No compensation claim
- Cancel allotment
- Drop all claim filed earlier by you
- Sign any settlement/Undertaking
- Accept deduction if any
- Not to approach in any court of law
.
Always read what all you are going to sign while accepting money. It can create some problem for you in future.
BK Singh Advocate will help you to understand what kind of deal builder is making you.
What Legal Framework Can Apply to a Builder Refund?
One such legislation would be Real Estate (Regulation and Development) Act 2016 (hereinafter referred to as “RERA”). India Code
As the title suggests it aims to regulate the real estate sector and protect the interests of consumers. It also lays down provisions for disputes between parties. If your Promoter has not been able to deliver the project as promised per your Agreement for Sale or falls under any of the conditions mentioned under section 18 then you can approach this Act. This act also includes provisions for rights of an Allottee under section 19. India Code
You may also look into consumer law if it applies to your case. Consumer Protection Act, 2019 was passed to protect consumers and provide a way to resolve disputes. India Code
Once you look into your specific deal you can better decide which course to take.
Can BK Singh Advocate Help You Decide Whether to Seek Refund?
Yes. Whether the buyer should take refund or not is one of the question which we asked earlier.
Some of the reason why buyer may want refund?-
- Delayed Possession.
- Project not going to complete.
- Specifications promised are changed.
- He needs cash immediately (financial crunch).
- Builder is not keeping his promise.
- If you had fight with builder for cancellation.
- Builder not providing the facilities which were promised.
- Any kind of fight/difference you had regarding the project/allotment.
- If builder is offering a settlement.
BK Singh Advocate will explain you your options in layman terms.
What Should You Check Before Asking for a Builder Refund?
Usually you will have some paperwork to begin your refund claim.
Do you have your Agreement for Sale?
Normally you can find out if the builder is supposed to give you possession of your flat, can cancel, need to pay etc from your agreement for sale.
Can you provide proof of payment?
Your Bank statements, receipts, demand letters etc will help you to calculate your payments.
When did the builder promise to give you possession?
Instead of asking the salesman always look at your agreement for sale for possession clause.
Is your project listed on RERA?
This might come in handy while finding the details about your project.
Did you send any notice previously?
It is good to look at previous mails, notices and reply's if you have sent any before.
You can approach BK Singh Advocate to know what all paperwork you have and what is missing.
What Happens After You Consult BK Singh Advocate?
This would be with respect to your specific deal.
Can I see documents?
You can show us the contract made with seller / proof of payments / any mail and communication you have had with the builder etc.
Can you tell me if I am eligible for refund?
Based on facts available we can check if you have a case which will allow you to make a refund claim or something else.
Can you review my case regarding the refund from builder?
If you have been sent an offer letter from the builder about canceling or settling or giving a refund we can review that and help you understand what that means.
Can I get legal advice?
Based on your facts it could be via RERA, Consumer or other remedies through law.
BK Singh Advocate does not guarantee any outcome. It is best to know what you are dealing with before deciding your next step.
Why Is Early Legal Review Better Than Waiting for the Builder?
They keep telling you it's going to be refunded "next week" or they will give you possession. People end up waiting for weeks on end. This can become very frustrating and costly as well.
Having a lawyer look at things early on can let you know:
- What papers are missing
- What your agreement states
- If there are any clauses the builder wants to add to their offer
- If you have stated anything that may hold against you
- Your options
If you wait too long anything will occur.
At BK Singh Advocate we will provide you with that insight before you jump into something you may regret.
Why Choose BK Singh Advocate for Builder Refund Assistance?
While looking for a Lawyer to take action against your builder you should not consider any advocate who will assure you that he will get your refund back or settle your matter in shortest time possible.
He should be able to analyze all factors related to property deal. Contracts, laws & practicalities.
BK Singh Advocate never assure client that he will get refund/compensation back from builder.
Clients can consult us through LEGALS365 regarding their Property / Real-estate query which might be related to Builders activities, Possession, Cancellation/Refund etc where they need legal opinion.
- We work with facts & documents.
- No Promise of getting your money back.
- No Promise of getting compensation.
- Just a fair opinion to take correct step.
How Does LEGALS365 Assist Buyers With Builder Refund Matters?
LEGALS365 helps you if you are facing an issue related to your property.
In case of Builder Refund you might get help on:
- Your deal with the seller
- The Agreement for sale you have signed.
- Payment made to builder
- Any communication you have done with builder.
- Terms and condition offered to you by builder for refund/cancellation.
- Law applicable on this situation.
- What can you do in such a situation.
We will assist you with good lawyer if necessary.
BK Singh Advocate can guide you on the pros and cons of the case so that you can decide what to do.
You can also explore our other services offered by us at LEGALS365 before reaching out to us.
When Should You Consult BK Singh Advocate?
- If the builder is not willing to give you your money back.
- If you have requested for money back multiple times and they haven't given you any closure.
- If the builder has offered you with lesser amount.
- They want you to deduct some amount or sign settlement papers.
- There has been huge delay in possession.
- You want to exit the deal as you have not got the promised possession.
- Are confused about which forum you can approach.
- Do you fall under RERA/ Consumer/ Contract laws or anything else.
- If you have received any legal notice.
- Never ignore a notice/ demand by the builder.
- I want to sign papers of cancellation.
- We can help you know what you are signing out.
Frequently Asked Questions
Can I claim refund from builder for delayed possession?
Possibly. Under section 18 of RERA, an allottee can claim withdrawal if the promoter fails to complete the project or give possession as per Agreement for Sale or within a time period mentioned. This would depend on other laws and facts of your case. Read India Code
Check your agreement and the project status. See how much you have paid. Consult BK Singh Advocate who would review all your documents and advise you better before you take any decision.
Can builder deduct some amount from the refund he is giving me?
Yes. There can be deductions from the refund amount. As mentioned in your agreement for sale. Or as per terms of cancellation. Other laws that may apply to your case. Builder just because he wants to can’t always deduct.
Get BK Singh Advocate to look at the refund statement builder has given. Review all your documents. Before you accept the amount from builder.
Can I ask for Interest to be paid along with Builder Refund?
Yes. If laws apply and facts of your case allow you to claim interest. Under section 18 of RERA, you can claim amount along with interest at a prescribed rate. Read India Code
Please don’t bother. I will not promise you an amount without looking at your matter.
Builder asking me to sign Full & Final Settlement, what should I do?
Read any document before you sign it. It might have clauses pertaining to full and final settlement. That you should be aware of.
Contact BK Singh Advocate and tell him what builder is asking you to sign.
Can I complain to RERA about Builder Refund?
Yes. You can complaint to RERA about your problem. Under section 31 you can file complaints. Read India Code
We would need to review your case. And advise if you can approach RERA.
Can Consumer Law help me in getting refund from builder?
Consumer Court can help you too. If your case qualifies for conditions under Consumer Protection Act 2019. Read India Code
Let us examine the facts and advice if you can file a complaint with the consumer court.
How can BK Singh help me regarding Builder Refund?
I would need to see all the documents related to your dealings with builder. Correspondences like emails, notices or payments. If builder has offered you refund share that too.
Once I have all information. I can help you better on how I can assist you.
Do I have to give a share to the lawyer for Builder Refund?
No. You dont have to give anything. My charges will be decided only after I have reviewed your matter and you have hired me.
Will I get my refund back from builder?
Nobody can guarantee that you will get your refund. If your case is strong enough and lets say you have to go to court. Whether you recover the amounts would depend on how facts pan out. What documents you have. And what decision the court takes.
BK Singh will try to help you with whatever is possible.
Do I have to wait for builder to refund the money?
Well sometimes yes. But not always. If the builder is continuously delaying or giving you excuses. Speak to a lawyer about the options you have.
Contact BK Singh . Explain your situation. We can review what you’ve told us and decide how we can help.
Why do I have to contact BK Singh before accepting builder’s refund?
Because the refund amount might be less than what you expect. Or there can be a lot of small letters in full and final settlement document you are about to sign. You might miss reading those.
Final Thoughts
Builder refund doesn't always mean you just get your money back. The deal you have with your builder can affect your refund. Whether its agreement , possession, payment made by you what offer builder have given to you and how to further you can proceed.
These are the things which matter.
People often choose the wrong course of action while seeking help from an advocate. Not because they have chosen the wrong advocate but because they weren't aware of what their documents clearly mentioned.
BK Singh Advocate will help you understand your documents so that you can take an informed decision when the question of refund or cancellation from builder arises.
If your builder is not giving you refund or is trying to fool you by giving you a lower amount than you are actually entitled to, take a word of advice from us before you make any move.
