[Resolved]  Shriram Properties & Infrastructure Pvt Ltd — Full refund not made for cancellation

Address:

Bangalore, Karnataka

Shriram Properties represented by Tej & Mangalya alloted me a flat in the project named 'Shriram Smrithi', central block, 4th floor, apartment no. 406. I made an advance of Rs.100,000/- some time during Sep ~ Oct 2012. I had clearly mentioned to Vinod Mathew (the representative of Shriram Properties then) while I had made advance payment that I wish to register the property sometime during the month of March / April 2013 as according to them the completion was expected only sometime during 2014. However, we mutually agreed to conclude it in Feb 2013. As per the mutual discussion and agreement, the demand note for additional 20% should have been issued to me sometime in the month of Feb 2013 however it was pushed to me sometime during Nov ~ Dec 2012 and eventually the allotment was cancelled with out proper justification. In the month of Feb 2013 I was refunded Rs.90,000/- only. I have referred the application copy and note the point number 10 as follows - In case of cancellation of booking by the Alottee, the allottee shall forfeit and amount of Rs. 10,000/- towards cancellation fee. If any allottee desires to cancel the booking after entering into Agreements with the company, then the terms and conditions of the Agreement will prevail.
From the above clause, it is very clear that only when the allottee chooses to cancel, the allottee shall forgo Rs.10,000 towards cancellation fee. In my instance the cancellation has been initiated by Shriram Properties and therefore I am fully eligible to receive the refund in full along with interest.
Clause 11 states that the allottee should enter into an agreement within 7 days from the date of demand note failing which the booking is liable to be cancelled. However, this clause does not penalize allottee.
I note that the cancellation letter was sent to me on the 10th of Dec 2012 however the cheque for the refund of Rs. 90,000 was sent to me only in the mid of Feb 2013. With this Shriram Properties not only owes Rs.10,000/- but also the interest accrued for the delayed refund. I would request the Shriram Properties authorities to arrange to refund me Rs.10,000 and the accrued interest for the delayed payment without further delay.