Common use of Cancellation by the Allottee Clause in Contracts

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. 7.5.2 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 exercise such right of termination only if on the date when the Allottee so expresses his intent to terminate this Agreement, the Total Consideration of Apartment then prevailing for transfer of an Apartment in the Project is not less than the Total Consideration of Apartment payable by the Allotteeunder this Agreement, and the Allottee agree(s) and undertake(s) that the decision of the Promoter in this regard shall be final and binding on the Allottee. 7.5.3 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 12 (6twelve) 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 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 the amount of stamp duty, registration fee and allied expenses to be paid/paid 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, subject to clause 7.5.3 below, shall be returned by the Promoter to the Allottee without interest within 45 (forty-five) days of such cancellation or on transfer of the Said Allotted Apartment to any other a new Apartment Acquirer, whichever is earlier. However 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. 7.5.2 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 exercise such right of termination only if on the date when the Allottee so expresses his intent to terminate this Agreement, the Total Consideration of Apartment then prevailing for transfer of an Apartment in the Project is not less than the Total Consideration of Apartment payable Cancellation by the Allotteeunder this Agreement, and the Allottee agree(s) and undertake(s) that the decision of the Promoter in this regard shall be final and binding on the Allottee. 7.5.3 . 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 PromoterDeveloper/Promoter or the Owner, the Allottee shall serve a six 6 (6Six) months’ notice in writing on the Promoter Developers/ Promoters in that regard and on the expiry of the said period the allotment shall stand cancelled and the Developer/Promoter herein shall be entitled to forfeit the Booking an 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 any, legal charges paid to the Developer/Promoter and the amount of stamp duty, registration fee and allied expenses to be paid/paid 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, subject to clause 7.5.3 below, shall be returned by the Developer/Promoter to the Allottee without interest within 45 (forty-five) days of such cancellation or on transfer of the Said Allotted Apartment to any other a new Apartment Acquirer, whichever is earlier. However However, may it be clarified that upon the Allottee issuing notice to the Developer / Promoter cancelling withdrawing from the Project as aforesaid, the Developer/Promoter 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. 7.5.2 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 exercise such right of termination only if on the date when the Allottee so expresses his intent to terminate this Agreement, the Total Consideration of Apartment then prevailing for transfer of an Apartment in the Project is not less than the Total Consideration of Apartment payable Cancellation by the Allotteeunder this Agreement, and the Allottee agree(s) and undertake(s) that the decision of the Promoter in this regard shall be final and binding on the Allottee. 7.5.3 . 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 Developer/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 PromoterPromoter or the Owner, the Allottee shall serve a six 6 (6Six) months’ notice in writing on the Promoter and the Owner in that regard and on the expiry of the said period the allotment shall stand cancelled and the Promoter herein shall be entitled to forfeit the Booking an 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 any, legal charges paid to the Promoter and the amount of stamp duty, registration fee and allied expenses to be paid/paid 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, subject to clause 7.5.3 below, shall be returned by the Promoter to the Allottee without interest within 45 (forty-five) days of such cancellation or on transfer of the Said Allotted Apartment to any other a new Apartment Acquirer, whichever is earlier. However However, may it be clarified that upon the Allottee issuing notice to the Promoter and the Owner cancelling withdrawing from the Project as aforesaid, the Promoter and the Owner 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. 7.5.2 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 exercise such right of termination only if on the date when the Allottee so expresses his intent to terminate this Agreement, the Total Consideration of Apartment then prevailing for transfer of an Apartment in the Project is not less than the Total Consideration of Apartment payable Cancellation by the Allotteeunder this Agreement, and the Allottee agree(s) and undertake(s) that the decision of the Promoter in this regard shall be final and binding on the Allottee. 7.5.3 . 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 the amount of stamp duty, registration fee and allied expenses to be paid/paid 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, subject to clause 7.5.3 7.5.2 below, be returned by the Promoter to the Allottee within 45 (forty-five) days of such cancellation or on transfer of the Said Allotted Apartment to any other Apartment Acquirer, whichever is earlier. However However, it may it be clarified that the balance amount shall be payable subject to the execution and registration of the Deed of Cancellation. 7.5.2 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 exercise such right of termination only if on the date when the Allottee so expresses his intent to terminate this Agreement, the Total Consideration of Apartment then prevailing for transfer of an Apartment in the Project is not less than the Total Consideration of Apartment payable Cancellation by the Allotteeunder this Agreement, and the Allottee agree(s) and undertake(s) that the decision of the Promoter in this regard shall be final and binding on the Allottee. 7.5.3 7.5.2 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/ 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. 7.5.2 Where the Allottee proposes to cancel/withdraw from the Project without any fault of the Promoter, the Promoter then in such event herein is entitled to forfeit the entirety of the Booking Amount paid for the allotment. The Promoter shall refund the balance amount, if any of the Total Price of the Apartment after adjusting the Booking Amount and after also deducting interest on any overdue payments, brokerage/referral fees, administrative charges as determined by the Promoter and exclusive of any indirect Taxes, stamp duty and registration charges within 45 (forty-five) days from the date of cancellation provided that the Allottee has executed a registered of cancellation in respect of the Unit within such period of 45 (forty five) days. For the avoidance of doubt it is clarified that the Promoter shall be required to pay the sums stated above only upon the Allottee having executed a registered deed of cancellation. The Allottee shall, at his own costs and expenses, execute all necessary cancellation related documents required by the Promoter. It is clarified that the statutory payments made by the Allottee/s will not be refunded. Further any Tax payable towards refund of sums in the manner provided herein shall be to the account of the Allottee. Upon the termination of this Agreement, the Allottee shall have no claim of any nature whatsoever on the Promoter and/or the said Apartment/Unit and the Promoter shall be entitled to exercise such right deal with and/or dispose of termination only if on the date when the Allottee so expresses his intent to terminate this Agreement, the Total Consideration of Apartment then prevailing for transfer of an Apartment Apartment/Unit in the Project is not less than the Total Consideration of Apartment payable by the Allotteeunder this Agreement, manner it deems fit and the Allottee agree(s) and undertake(s) that the decision of the Promoter in this regard shall be final and binding on the Allotteeproper. 7.5.3 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.