Mumbai builder ordered to refund flat booking amount with 9% interest
The Mumbai Suburban Commission has determined that a builder is obligated to refund a buyer's deposit, as the builder failed to provide adequate justification for withholding it. The buyer's request followed a denied home loan from banks. Despite the builder citing a non-refundable policy, the Commission found no compelling evidence to support forfeiture.
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Mumbai builder ordered to refund flat booking amount with 9% interest (opens Times of India in a new tab)
The Mumbai Suburban Commission has determined that a builder is obligated to refund a buyer's deposit, as the builder failed to provide adequate justification for withholding it. The buyer's request followed a denied home loan from banks. Despite the builder…
