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BOOKING AMOUNT FORFEITURE
Court orders builder to return Rs 3 lakh with 9% interest after buyers cancel flat booking due to delayed constructionA Nagpur consumer court ordered a real estate company to refund ₹3 lakh with 9% interest to a couple who cancelled their flat booking. The ...- MahaRERA orders Lodha Developers to issue full refund of booking money after homebuyer’s bank loan application got rejectedMahaRERA directed Lodha Developers to refund a homebuyer's Rs 7 lakh booking amount after their loan was rejected. The buyer booked a Rs 2....
- Consumer forum orders refund after Covid-19 disrupts travel plansIshan Pratap Singh's Maldives trip got cancelled due to Covid-19. He sought a refund from Ineedtrip, the travel agency. The agency refused ...
- Builder cannot forfeit advance money without signing sale agreement; TG RERA orders refund of Rs 12.1 lakh to homebuyerRERA: Telangana Real Estate Regulatory Authority (RERA) recently passed a judgement ordering a builder to refund the advance money fully. T...
- RERA: Mumbai couple wins Rs 20.65 lakh against builder who forfeited booking amount for cancellation of the dealRERA: The Maharashtra Appellate Tribunal (MahaREAT) has ruled that a promoter cannot arbitrarily forfeit advance money paid for a flat. The...
- NRI homebuyer to get Rs 1.26 crore as refund and compensation from Godrej Properties against cancellation of flat bookingMahaRERA: A non-resident Indian (NRI) paid Rs 97 lakh to book a Godrej flat, however when Godrej cancelled the flat booking, entire money (...
- Will you get refund of flat booking amount after cancelling it? Check your state's RERA Act which will decide the extent of recoveryFlat booking refund: There are some states like Maharashtra, Delhi, Madhya Pradesh etc who specify up to how much amount of the booking amo...
- Refund of flat booking amount: Homebuyer fights Godrej Properties and wins the case; Know your rights under RERAGodrej Properties: A homebuyer booked a flat with Godrej Properties near Mumbai in 2019 by paying Rs 5 lakh as earnest money. Due to person...
- Indian-origin former financial manager of American football team gets over 6 years in prison for committing wire fraudAmit Patel, former financial manager of the Jacksonville Jaguars, sentenced to 6.5 years in jail for wire fraud. Used virtual credit cards,...
- Premature withdrawal rules of 10 post office schemes: PPF, NSC, Senior Citizens Savings Scheme, Mahila Samman Savings CertificateThe government of India revises the interest rates on these small savings scheme every quarter. Currently, the India Post offers ten plans ...
- MahaRERA directs homebuyer to pay interest to developer for delay in paymentThis is in contrast to usual directives from the authority to developers to pay penalty for delayed possession to a homebuyer.
- Maharashtra Real Estate Tribunal says booking amount forfeiture unfair due to inequitable, one-sided pactsMaharashtra Real Estate Tribunal rules in homebuyers’ favour to get booking amount refund.
- Home buyers won't lose money for cancelling delayed flats: NCDRCIn order to discourage home buyers from cancelling allotment, builders always put stringent clauses in the agreement on forfeiture of a sub...
- CCI dismisses anti-competitive case against Vatika GroupThe matter relates to the purchase of a commercial unit in Vatika Professional Point Sector in Sector 66 of Gurgaon, Haryana.
- Budget 2014: FM Arun Jaitley's new income tax rule has the potential to kill black money market“The Finance Bill 2014 has made the forfeited amount chargeable to tax, thus making it an income and plugging this loophole.”
- Emaar MGF asked to refund money paid for booking plotEmaar MGF Land Ltd has been directed by the apex consumer forum to refund Rs 2.4 lakh to a man for "deficiency" in service.
- DLF gets CCI rap again over project violationsHowever, the order has not slapped any additional penalty on DLF apart from Rs 630 crore that was imposed in the case of the Belaire projec...
- Buyers considering legal action on realty cos after CCI ruling on DLFEncouraged by an order of the CCI against DLF, home buyers are considering legal action either through courts or the CCI.
- Fraud: Madoff sentenced to 150 years in prisonMadoff apologized in court to the victims of the massive investment scam that ruined scores of investors.
- Skilling to pay Lay's share tooFederal prosecutors want former Enron Corp chief executive officer Jeffrey Skilling to turn over nearly $183m for helping perpetuate one of...
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