Sir,

I booked a flat with a builder by paying advance Rs.5,00,000/- through SBI ,RTGS payment system. I signed the application form for booking of flat no –B2/101 at the time of payment. The Builder has not issued allotment letter and no sale agreement has been executed till date. Subsequently I decided not to proceed further with builder and cancelled the Booking with due intimation to Builder. Now I have requested to Builder several times for refund of my booking money Rs.5,00,000/-. In turn Builder saying, as per terms and conditions of the Application form the booking money will be refunded after equivalent amount received from subsequent purchaser and 5 % of the total cost of the flat shall be deducted as cancellation charges.

Kindly advise how my booking advance money will get back from the Builder.


Regards