How To Claim Full Refund With Interest From Sheltrex?

I had booked a flat in Karjat with Sheltrex 2 years ago. I paid 5 lakh and before registration. I got sanctioned my home loan from Bank Of India. When I showed Sheltrex's papers to the bank, their legal team did not approve property paper due to lega... Read More

I had booked a flat in Karjat with Sheltrex 2 years ago. I paid 5 lakh and before registration. I got sanctioned my home loan from Bank Of India. When I showed Sheltrex's papers to the bank, their legal team did not approve property paper due to legal issues. After that, many times I contacted Sheltrex's sales office but every time they gave me false promises but they haven't solved any of my issues yet. I visited the site also but construction work is also on hold for the past 1 and a half year. I want a full refund with interest. What can I don?
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Answer (1)

Aayushi Sang

Aayushi Sang

  • Sector-1, Noida

File a complaint under RERA. Know your rights as per the Sheltrex agreement: The first thing you as a buyer must be aware of before considering cancellation of your apartment or any other property is the fundamental right as a buyer. Usually, the sale agreement or the property allotment document contains a detailed clause pertaining to the cancellation of the booking in the future. If you want to cancel your booked property, all cancellations would need to follow the pre-signed clause as per the agreement. Make sure to read the cancellation clause in the sale agreement to understand the amount the Sheltrex Karjat And Brick Eagle is liable to refund in case of a cancellation. Usually, if the developer does not commence construction within one year of issuing of the allotment letter, the Sheltrex is liable to repay the booking amount with a simple interest of 9- 10% per annum.

Answered on 12 Nov 2019


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