Cancellation by the Allottee. 7.5.1 The Allottee shall have the right to cancel/ withdraw his allotment in the Project as provided in the Act: Provided that where the Allottee proposes to cancel/withdraw from the project without any fault of the Promoter, the Allottee shall serve a 12 (twelve) months’ notice in writing on the Promoter in that regard and on the expiry of the said period the allotment shall stand cancelled and the Promoter shall be entitled to forfeit the Booking amount equal to ten (10) percent of the consideration for the Allotted Apartment and deduct from the balance consideration all interest liabilities of the Allottee accrued till the date of cancellation and brokerage paid to the real estate agent/broker, if any and the amount of stamp duty, registration fee and allied expenses and incidentals and legal charges payable on deed of cancellation of this agreement and the applicable GST payable on such amounts. The balance amount of money paid by the Allottee shall be returned by the Promoter to the Allottee without interest within 45 (forty-five) days of such cancellation or on transfer of the Allotted Apartment to a new Apartment Acquirer, whichever is earlier. However, may it be clarified that upon the Allottee issuing notice to the Promoter/cancelling withdrawing from the Project as aforesaid, the Promoter and the Owners shall become free to enter into agreement for transfer of the same Allotted Apartment to a new Apartment Acquirer and to that the Allottee shall not be entitled to raise any objection or dispute and that the balance amount shall be payable subject to the execution and registration of the Deed of Cancellation by the Allottee. It is clarified that all amounts collected as taxes, charges, levies, cess, assessments and impositions and deposited with the appropriate authorities concerned shall not be returned by the Promoter and the Allottee shall be free to approach the authorities concerned for refund of such taxes, charges, levies, cess, assessments and impositions.
Cancellation by the Allottee. 7.5.1 The Allottee shall have the right to cancel/ withdraw his allotment in the Project as provided in the Act: Provided that subject to clause 6.5(ii) below, where the Allottee proposes to cancel/withdraw from the project without any fault of the Promoter, the Allottee shall serve a six (6) months’ notice in writing on the Promoter and on the expiry of the said period the allotment shall stand cancelled and the Promoter herein shall be entitled to forfeit the Booking amount equal to ten (10) percent of the consideration for the Allotted Apartment and deduct from the balance consideration all interest liabilities of the Allottee accrued till the date of cancellation and brokerage paid to the real estate agent/broker, if any and amount of stamp duty, registration fee and allied expenses to be paid/paid on deed of cancellation of this agreement and the applicable GST payable on such amounts. The balance amount of money paid by the Allottee shall, subject to clause 7.5.3 below, be returned by the Promoter to the Allottee within 45 (forty-five) days of such cancellation or on transfer of the Said Apartment to any other Apartment Acquirer, whichever is earlier. However may it be clarified that the balance amount shall be payable subject to the execution of the Deed of Cancellation.
Cancellation by the Allottee. The Allottee shall have the right to cancel/ withdraw his allotment in the Project as provided in the Act; Provided that where the allottee proposes to cancel / withdraw from the project without any fault of the promoter, the promoter herein is entitled to forfeit the booking amount paid for the allotment. The balance amount of money paid by the allottee shall be returned by the promoter to the allottee within 45 days of such cancellation.
Cancellation by the Allottee. In case, where the Allottee proposes to cancel/withdraw from the Project without any fault of the Promoter then in such event the Allottee shall be entitled to exerciswwe such right of termination only if on the date when the Allottee so expresses his intent to terminate or terminates this Agreement, the Total Consideration of Allotted Apartment then prevailing for sale thereof is found to be not less than the Total Consideration of the Allotted Apartment payable by the Allottee under this Agreement and the Allottee agrees and undertakes that the decision of the Promoter in this regard shall be final and binding on the Allottee. It is further expressly agreed that if the Promoter assesses the then prevailing sale value/consideration of the Allotted Apartment to be less than the amount of consideration agreed to be paid by the Allottee hereunder then and in such event the Promoter shall forfeit, in addition the amounts mentioned in clause
Cancellation by the Allottee. The Allottee shall have the right to cancel/withdraw his allotment in the Project as provided in the Act. Provided that where the Allottee proposes to cancel/withdraw from the Project without any fault of the Promoter, the Promoter herein is entitled to forfeit the booking amount paid for the allotment being 10 % of the Total Sale Price (“Xxxxxxx Money”). The balance amount of money paid by the Allottee (subject to deduction of taxes and other outgoing charges already paid by the Promoter and the penalty charges, if any) shall be returned by the Promoter to the Allottee without interest within 45 days of such cancellation.
Cancellation by the Allottee. The Allottee shall have the right to cancel/ withdraw his allotment in the Project as provided in the Act, provided that where the Allottee proposes to cancel/withdraw from the Project without any fault of the Promoter, the Promoter herein is entitled to forfeit the Booking Amount or the actual amount paid, whichever is higher, in the manner set out in Paragraph 9.3 (v) herein below. Taxes, cess, levies, charges, stamp duty, registration charges etc. paid on all such amounts shall not be refunded to the Allottee.
Cancellation by the Allottee. The Allottee shall have the right to cancel/withdraw his allotment in the project as provided in the act Provided where the Allottee proposes to cancel/withdraw from the project without any fault of the DEVELOPER/Developer, the DEVELOPER herein are entitled to forfeit the booking amount paid for the allotment and interest accrued thereon in accordance to law. The Allottee acknowledges that the DEVELOPER shall be blocking the said Unit for the Allottee without receiving the total consideration price and other amounts and in the event of such cancellation the DEVELOPER shall refund the amount receivable by the Allottee within 45 days of such cancellation or upon the DEVELOPER entering into an agreement for sale in respect of the said Unit with any other intending Allottee (which ever event shall happen later) and in as much as the DEVELOPER in terms of this agreement is to hold the said Unit on account of the Allottee, the Allottee has agreed to wait for payment of the amount in the event of cancellation as above and has agreed to waive all other rights upon cancellation.
Cancellation by the Allottee. The Allottee shall have the right to cancel/withdraw his allotment in the Project as provided in the Act. Provided that where the Allottee proposes to cancel/withdraw from the Project without any fault of the Promoter, the Promoter herein is entitled to forfeit the booking amount paid for the allotment being 10 % of the Total Sale Price (“Xxxxxxx Money”) along with all the charges paid towards taxes, levies, govt. dues, interest, penalty , cess, duties to the concerned department / authority in respect of the said Plot, as on the date of termination. The balance amount of money paid by the Allottee (subject to deduction of taxes and other outgoing charges already paid by the Promoter and the penalty charges, if any) shall be returned by the Promoter to the Allottee without interest within days of such cancellation.
Cancellation by the Allottee. The Allottee shall have the right to cancel/ withdraw his allotment in the Project as provided in the Act;
Cancellation by the Allottee. The Allottee shall have the right to cancel/ withdraw its allotment in the Real Estate Project as provided in the Act and/or as set out in Clause 9.1 and 9.2 herein below. Provided that where the Allottee proposes to cancel/ withdraw from the Real Estate Project after the execution of this Agreement, without any fault of the Promoters, the Promoters herein are entitled to forfeit the Booking Amount paid for the allotment along with the interest component on any delayed payment / non-payment by the Allottee (in terms of Clause 1.13 herein before) at the rate prescribed under the Act and Rules. The balance amount of money paid by the Allottee shall be returned by the Promoters to the Allottee within 90 (ninety) days of such cancellation.
