I recently booked a Flat in Life republic hinjewadi and gave the 20 % of the agreement value in the month of may. Due to this RERA and GST they delayed my registration process. Due to this GST my agreemeent value increased by a Lakh. Now looking at the possession time of the property and the increased prices I am thinking to not invest in this property anymore. Since I have to wait for 3 years for possession and they are not committing that they will give the keys exactly on 2020 . So there is a chance that possession might be delayed. This is the reason I don't wan to invest in this property anymore.It feels like I am in a huge loss.
Now That I asked for the cancellation they are saying that they will deduct the 10 % of the amount which I have given them. This 10% is a very big amount . I am not sure whether there is any rule mentioned in the RERA about this .If any one knows about the RERA rules please let me know so that I can claim my entire amount .
RERA was effective from 1 May and I gave the 20% amount in April. Now these people are saying that there is clause in RERA in which they can deduct the booking amount upto 1 lakh.