Understanding the Importance of the Registered Agreement while Cancelling the Flat Booking

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There could be many reasons that may pull you from an investment that serves a lifetime capital. The reasons can be diverse and sometimes forced with intentions. You may face a financial crunch, or a sudden investment plan may compel you to withdraw from the investment or any other motive behind it that is leading you to take such action. Don’t have to worry as SBP has got a substantial take on Cancelling the Flat Booking especially when the agreement is not registered. Let us get into the depth of this with what if you are in a situation where you want to withdraw from the flat booking and don’t know where to start from?!

If the agreement that you have with the developer is not registered then the developer has to pay the whole liability to the buyer. Whatever amount he has paid to the developer has to be returned without any compromise to the buyer. Legally, the developer cannot disagree on it as it is documented by the government. The noticeable point is that the agreement gets registered only when the buyer pays 10% of the whole amount and once it is done, it becomes difficult for the buyer to get the whole amount. In the former case, the buyer has a chance to receive the whole amount but not in the latter one.

If in any case, the developer refuses to pay the amount, you can move to a consumer forum with all the documents and file a complaint against them or you can even visit the Real Estate Regulatory Authority for further discussion. If the case is registered, the developer has a hold on it and can sustain a legal position over it. The buyer may also lose the hold and gets into loss if the agreement is registered. So, be careful while you chose to take action. The real estate authority has proposed strict steps that cater to the requirements of everyone and make a balance outlook.

SBP Group has always followed the principles and has helped every person grow with firm decisions in life. You are our family and we take every responsibility of yours on our shoulders with pride. We don’t want our customers to face difficulties regarding flat registration and its related queries. We have a team of professionals to guide them at every point with the best of suggestions.