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Monday, March 04, 2024
Today's News

Can a homebuyer seek full refund of booking amount in case of job loss?

Can a homebuyer seek full refund of booking amount in case of job loss?

The MahaRERA order stated the forfeiture clause in the booking application form/allotment letter was “unreasonable”, and not according to current MahaRERA order

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has actually permitted a homebuyer, that mentioned loss of his job to leave from a real estate project, to assert refund from the programmer.

The property buyer had actually paid near to 10 percent of the reservation amount for a level that price Rs 40.87 lakh. He revealed his lack of ability to finish the acquisition citing job loss.

The complainant property buyer had actually scheduled an apartment or condo in the Godrej Park Greens job of Godrej Feature being built as Godrej Horizon Developers in Pune. The apartment or condo was allocated in April 2019 and also the homebuyer had actually paid close to 10 percent of the overall price of Rs 40.87 lakh.
In August 2019, the buyer lost his task as well as dealt with a significant economic crisis. He educated the programmer of his failure to pay the stamp duty, as well as registration fee, but the developer continued to stress that his quantity would certainly be ended, said the MahaRERA order in this context.

According to the order, in November 2019, the property buyer received a pre-termination letter from the developer, to which he replied and requested a reimbursement of the cash paid by him in the direction of the stated reservation. Nonetheless, the programmer educated him that the said allocation is terminated which the cash paid would certainly be waived according to the terms of the reservation.

Then, the property buyer approached MahaRERA citing loss of work. In December that year, the COVID-19 broke out, and also his monetary circumstance degraded. In fact, he has not been able to land a task till now, said the order.

The homebuyer came close to MahaRERA for refund of the entire reservation amount paid by him under the stipulations of RERA. The buyer, in the grievance, claimed he is seeking withdrawal from the job due individual reasons (viz. loss of his work) and also did not cite any kind of violation of RERA provisions by the programmer.

The programmer, at the MahaRERA, pointed out that in spite of adequate time being provided to the buyer, neither did he pay the remaining quantity neither the government charges required for enrollment of the arrangement available for sale. The designer affirmed that the complainant desired a higher arrangement than the allocated configuration.

As a result, it is inaccurate to say that he is not able to pay. Thus, the programmer terminated the slice and surrendered the amount paid by the complainant as per the regards to the application read with the slice letter, stated MahaRERA in the order citing debates from both celebrations.

MahaRERA order

MahaRERA, in its order, allowed the property buyer to exit the job in addition to partial refund. MahaRERA enabled the developer to waive 2 percent of the amount.

In the order, MahaRERA stated, “MahaRERA is of the view that the loss provisions discussed in the claimed reservation application form/allotment letter provide that upon cancellation of the stated flat, the promoter is entitled to forfeit the entire booking amount (i.e. 5 percent) amount of the total consideration of the claimed level. Such forfeiture clause as stated in the reserving application form/allotment letter seems unreasonable, after beginning of RERA and also it does not seem to be in consonance with the current MahaRERA order.”

The order added, “The respondent (programmer) is guided to reimburse the cash paid by the complainant (homebuyer) towards the consideration of the claimed flat, i.e. Rs 4.27 lakh (by deducting the tax/statutory dues/brokerage, if any type of) by waiving 2 percent of the complete factor to consider amount of the said level reserved by the plaintiff.”

In an e-mail reaction to Moneycontrol, Godrej Quality speaker stated, “The MahaRERA held that Pleasure Salve (property buyer) has not affirmed any violation of the RERA by us as well as in the absence of any kind of offense, if the allottee wishes to withdraw from the task after that the withdrawal/cancellation shall be controlled by the reserving application form/allotment letter. Despite the exact same, the MahaRERA trusted the MahaRERA’s subsequent office order dated 12th August, 2022 based on which the developer can surrender only up to 2% of the total consideration.”

The spokesperson added, “The MahaRERA has not appreciated that the discontinuation of the slice on 12th December, 2019 is clearly prior to the said MahaRERA’s office order. We have filed appeal challenging the claimed order outdated 27th October, 2022, as well as the matter is sub judice before the Appellate Tribunal, we are certain of our merits in the matter.”

Job loss cannot be a reason for full refund

Suhail Ahmed Khilji, a home attorney based out of Mumbai, informed Moneycontrol, “The order gone by MahaRERA is well within the law, as personal reasons (loss of task or any various other similar factor) can not be a ground to refund the whole quantity and also taking an exemption to MahaRERA Order No. 35/2022. “

He included, “If such an exception is made for job loss today, after that tomorrow there will be someone else requesting for a comparable exemption as well as there will be no end to such points. Also, taking such an exemption will be past the realm of RERA and also beyond the extent and also power of the MahaRERA Authority.”

Last Updated:  22 February 2023

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