Common use of Cancellation by Allottee Clause in Contracts

Cancellation by Allottee. (i) The Allottee shall have the right to cancel / withdraw his allotment in the Project as provided in the Act: Provided that subject to clause 8.8 (ii) below where the Allottee proposes to cancel/withdraw from the project without any fault of the promoter, the Allottee shall serve a 90 (ninety) days’ notice in writing on the Promoter and on the expiry of the said period the allotment shall stand cancelled and the promoter herein is entitled to forfeit the booking amount paid for the allotment or 10% of the consideration, interest and other dues payable and the applicable GST on such cancellation charges . Further in case of a falling market the amount repayable will be further reduced by the extent of the difference in amount receivable on a fresh sale of the Apartment to another buyer and the Purchase Price of the Allottee if the current Sale Price is less than the Purchase Price. The balance amount of money paid by the Allottee after the aforesaid deductions shall subject to clause 8.8(iii) below be returned by the promoter to the Allottee after selling the Unit to a new purchaser within 45 days of such cancellation. Once the said flat is resold to any other allottee and subject to allottee executing necessary document for revocation of the Sale Agreement executed by him/her with the Promoter for allotment/purchase of flat and pay/borne all cost for execution and registration of that revocation document.

Cancellation by Allottee. (i) The Allottee shall have the right to cancel / withdraw his allotment in the Project as provided in the Act: Provided that subject to clause 8.8 8.9 (ii) below where the Allottee proposes to cancel/withdraw from the project without any fault of the promoter, the Allottee shall serve a 90 (ninety) days’ notice in writing on the Promoter and on the expiry of the said period the allotment shall stand cancelled and the promoter herein is entitled to forfeit the booking amount paid for the allotment or 10% of the consideration, interest and other dues payable consideration and the applicable GST on such cancellation charges . Further in case of a falling market the amount repayable will be further reduced by the extent of the difference in amount receivable on a fresh sale of the Apartment to another buyer and the Purchase Price of the Allottee if the current Sale Price is less than the Purchase Price. The balance amount of money paid by the Allottee after the aforesaid deductions shall subject to clause 8.8(iii8.9(iii) below be returned by the promoter to the Allottee after selling the Unit to a new purchaser within 45 days of such cancellation. Once the said flat is resold to any other allottee and subject to allottee executing necessary document for revocation of the Sale Agreement executed by him/her with the Promoter for allotment/purchase of flat and pay/borne all cost for execution and registration of that revocation document.

Cancellation by Allottee. (i) The Allottee shall have the right to cancel / withdraw his allotment in the Project as provided in the Act: Provided that subject to clause 8.8 8.9 (ii) below where the Allottee proposes to cancel/withdraw from the project without any fault of the promoter, the Allottee shall serve a 90 (ninety) days’ notice in writing on the Promoter and on the expiry of the said period the allotment shall stand cancelled and the promoter herein is entitled to forfeit the booking amount paid for the allotment or 10% of the consideration, interest and other dues payable and the applicable GST on such cancellation charges . Further in case of a falling market the amount repayable will be further reduced by the extent of the difference in amount receivable on a fresh sale of the Apartment to another buyer and the Purchase Price of the Allottee if the current Sale Price is less than the Purchase Price. The balance amount of money paid by the Allottee after the aforesaid deductions shall subject to clause 8.8(iii8.9(iii) below be returned by the promoter to the Allottee after selling the Unit to a new purchaser Allottee within 45 days of such cancellation. Once the said flat is resold to any other allottee and subject to allottee executing necessary document for revocation of the Sale Agreement executed by him/her with the Promoter for allotment/purchase of flat and pay/borne all cost for execution and registration of that revocation document.

Cancellation by Allottee. (i) The Allottee shall have the right to cancel / withdraw his allotment in the Project as provided in the Act: Provided that subject to clause 8.8 (ii) below where the Allottee proposes to cancel/withdraw from the project without any fault of the promoter, the Allottee shall serve a 90 (ninety) days’ notice in writing on the Promoter and on the expiry of the said period the allotment shall stand cancelled and the promoter herein is entitled to forfeit the booking amount paid for the allotment or 10% of the consideration, interest and other dues payable consideration and the applicable GST on such cancellation charges . Further in case of a falling market the amount repayable will be further reduced by the extent of the difference in amount receivable on a fresh sale of the Apartment to another buyer and the Purchase Price of the Allottee if the current Sale Price is less than the Purchase Price. The balance amount of money paid by the Allottee after the aforesaid deductions shall subject to clause 8.8(iii) below be returned by the promoter to the Allottee after selling the Unit to a new purchaser Allottee within 45 days of such cancellation. Once the said flat is resold to any other allottee and subject to allottee executing necessary document for revocation of the Sale Agreement executed by him/her with the Promoter for allotment/purchase of flat and pay/borne all cost for execution and registration of that revocation document.

Cancellation by Allottee. (i) The Allottee shall have the right to cancel / withdraw his allotment in the Project as provided in the Act: Provided that subject to clause 8.8 (ii) below where the Allottee proposes to cancel/withdraw from the project without any fault of the promoter, the Allottee shall serve a 90 (ninety) days’ notice in writing on the Promoter and on the expiry of the said period the allotment shall stand cancelled and the promoter herein is entitled to forfeit the booking amount paid for the allotment or 10% of the consideration, interest and other dues payable and the applicable GST on such cancellation charges . Further in case of a falling market the amount repayable will be further reduced by the extent of the difference in amount receivable on a fresh sale of the Apartment to another buyer and the Purchase Price of the Allottee if the current Sale Price is less than the Purchase Price. The balance amount of money paid by the Allottee after the aforesaid deductions shall subject to clause 8.8(iii) below be returned by the promoter to the Allottee after selling the Unit to a new purchaser Allottee within 45 days of such cancellation. Once the said flat is resold to any other allottee and subject to allottee executing necessary document for revocation of the Sale Agreement executed by him/her with the Promoter for allotment/purchase of flat and pay/borne all cost for execution and registration of that revocation document.

Cancellation by Allottee. (i) The Allottee shall have the right to cancel / withdraw his allotment in the Project as provided in the Act: Provided that subject to clause 8.8 (ii) below where the Allottee proposes to cancel/withdraw from the project without any fault of the promoter, the Allottee shall serve a 90 (ninety) days’ notice in writing on the Promoter and on the expiry of the said period the allotment shall stand cancelled and the promoter herein is entitled to forfeit the booking amount paid for the allotment or 10% of the total consideration, interest whichever is higher and interest, other dues payable dues, if any, and the applicable GST on such cancellation charges charges. Further in case of a falling market the amount repayable will be further reduced by the extent of the difference in amount receivable on a fresh sale of the Apartment to another buyer and the Purchase Price of the Allottee if the current Sale Price is less than the Purchase Price. The balance amount of money paid by the Allottee after the aforesaid deductions shall subject to clause 8.8(iii) below be returned by the promoter to the Allottee after selling the Unit to a new purchaser within 45 days of such cancellation. Once the said flat is resold to any other allottee and subject to allottee executing necessary document for revocation of the Sale Agreement executed by him/her with the Promoter for allotment/purchase of flat and pay/borne all cost for execution and registration of that revocation document.

Cancellation by Allottee. (i) The Allottee shall have the right to cancel / withdraw his allotment in the Project as provided in the Act: Provided that subject to clause 8.8 (ii) below where the Allottee proposes to cancel/withdraw from the project without any fault of the promoter, the Allottee shall serve a 90 (ninety) days’ notice in writing on the Promoter and on the expiry of the said period the allotment shall stand cancelled and the promoter herein is entitled to forfeit the booking amount paid for the allotment or 10% of the consideration, interest and other dues payable and the applicable GST on such cancellation charges . Further in case of a falling market the amount repayable will be further reduced by the extent of the difference in amount receivable on a fresh sale of the Apartment Row House/Bungalow to another buyer and the Purchase Price of the Allottee if the current Sale Price is less than the Purchase Price. The balance amount of money paid by the Allottee after the aforesaid deductions shall subject to clause 8.8(iii) below be returned by the promoter to the Allottee after selling the Unit to a new purchaser Allottee within 45 days of such cancellation. Once the said flat is resold to any other allottee and subject to allottee executing necessary document for revocation of the Sale Agreement executed by him/her with the Promoter for allotment/purchase of flat and pay/borne all cost for execution and registration of that revocation document.

Cancellation by Allottee. (i) The Allottee shall have the right to cancel / withdraw his allotment in the Project as provided in the Act: Provided that subject to clause 8.8 7.5 (ii) below where the Allottee proposes to cancel/withdraw from the project without any fault of the promoterOwners/Vendors, the Allottee shall serve a 90 (ninety) days’ notice in writing on the Promoter Owners/Vendors and on the expiry of the said period period, the allotment shall stand cancelled and the promoter Owners/Vendors shall become entitled to deal with the said Unit and the Owners/Vendors herein is entitled to forfeit the booking amount paid for the allotment or 10% of the consideration, interest and other dues payable and the applicable GST on such cancellation charges . Further .Further in case of a falling market the amount repayable will be further reduced by the extent of the difference in amount receivable on a fresh sale of the Apartment to another buyer and the Purchase Price of the Allottee if the current then Sale Price is less than the Purchase Price. The balance difference of the market price shall be deducted besides the 10% and GST as aforesaid and amount of money paid by the Allottee after the aforesaid deductions shall subject to clause 8.8(iii) below be returned by the promoter Owners/Vendors to the Allottee after selling the Unit to a new purchaser Allottee within 45 days of such cancellation. Once the said flat is resold to any other allottee and subject to allottee executing necessary document for revocation of the Sale Agreement executed by him/her with the Promoter for allotment/purchase of flat and pay/borne all cost for execution and registration of that revocation document.

Cancellation by Allottee. (i) The Allottee shall have the right to cancel / withdraw his allotment in the Project as provided in the Act: Provided that subject to clause 8.8 7.5 (ii) below where the Allottee proposes to cancel/withdraw from the project without any fault of the promoter, the Allottee shall serve a 90 (ninety) days’ notice in writing on the Promoter and on the expiry of the said period period, the allotment shall stand cancelled and the promoter shall become entitled to deal with the said Unit and the promoter herein is entitled to forfeit the booking amount paid for the allotment or 10% of the consideration, interest and other dues payable and the applicable GST on such cancellation charges . Further .Further in case of a falling market the amount repayable will be further reduced by the extent of the difference in amount receivable on a fresh sale of the Apartment to another buyer and the Purchase Price of the Allottee if the current then Sale Price is less than the Purchase Price. The balance difference of the market price shall be deducted besides the 10% and GST as aforesaid and amount of money paid by the Allottee after the aforesaid deductions shall subject to clause 8.8(iii) below be returned by the promoter to the Allottee after selling the Unit to a new purchaser Allottee within 45 days of such cancellation. Once the said flat is resold to any other allottee and subject to allottee executing necessary document for revocation of the Sale Agreement executed by him/her with the Promoter for allotment/purchase of flat and pay/borne all cost for execution and registration of that revocation document.

Cancellation by Allottee. (i) The i)The Allottee shall have the right to cancel / withdraw his allotment in the Project as provided in the Act: Provided that subject to clause 8.8 (ii) below where the Allottee proposes to cancel/withdraw from the project without any fault of the promoter, the Allottee shall serve a 90 (ninety) days’ notice in writing on the Promoter and on the expiry of the said period the allotment shall stand cancelled and the promoter herein is entitled to forfeit the booking amount paid for the allotment or 10% of the consideration, interest and other dues payable and the applicable GST on such cancellation charges . Further in case of a falling market the amount repayable will be further reduced by the extent of the difference in amount receivable on a fresh sale of the Apartment to another buyer and the Purchase Price of the Allottee if the current Sale Price is less than the Purchase Price. The balance amount of money paid by the Allottee after the aforesaid deductions shall subject to clause 8.8(iii) below be returned by the promoter to the Allottee after selling the Unit to a new purchaser Allottee within 45 days of such cancellation. Once the said flat is resold to any other allottee and subject to allottee executing necessary document for revocation of the Sale Agreement executed by him/her with the Promoter for allotment/purchase of flat and pay/borne all cost for execution and registration of that revocation document.

Cancellation by Allottee. (i) The i)The Allottee shall have the right to cancel / withdraw his allotment in the Project as provided in the Act: Provided that subject to clause 8.8 7.5 (ii) below where the Allottee proposes to cancel/withdraw from the project without any fault of the promoter, the Allottee shall serve a 90 (ninety) days’ notice in writing on the Promoter and on the expiry of the said period period, the allotment shall stand cancelled and the promoter shall become entitled to deal with the said Unit and the promoter herein is entitled to forfeit the booking amount paid for the allotment or 10% of the consideration, interest and other dues payable and the applicable GST on such cancellation charges . charges.Further in case of a falling market market, the amount repayable will be further reduced by the extent of the difference in amount receivable on a fresh sale transfer of the Apartment Office unit to another buyer and the Purchase Price of the Allottee if the current Sale thenTransfer Price is less than the Purchase Price. The balance amount difference of the market price shall be deducted besides the 10% and GST as aforesaid and theamount of money paid by the Allottee after the aforesaid deductions shall subject to clause 8.8(iii) below be returned by the promoter to the Allottee after selling the Unit to a new purchaser Allottee within 45 days of such cancellation. Once the said flat is resold to any other allottee and subject to allottee executing necessary document for revocation of the Sale Agreement executed by him/her with the Promoter for allotment/purchase of flat and pay/borne all cost for execution and registration of that revocation document.

Cancellation by Allottee. (i) The i)The Allottee shall have the right to cancel / withdraw his allotment in the Project as provided in the Act: Provided that subject to clause 8.8 (ii) below 7.5 where the Allottee proposes to cancel/withdraw from the project without any fault of the promoterOwner/Vendor, the Allottee shall serve a 90 (ninety) days’ notice in writing on the Promoter Owner/Vendor and on the expiry of the said period the allotment shall stand cancelled and the promoter Owner/Vendor shall become entitled to deal with the said Unit and theOwner/Vendor herein is entitled to forfeit the booking amount paid for the allotment or 10% of the considerationtotal consideration and/or the booking amount whichever is higher, interest and other dues payable and the applicable GST on such cancellation charges . charges.Further in case of a falling market the amount repayable will be further reduced by the extent of the difference in amount receivable as may be agreed to be received on a fresh sale of the Apartment to another buyer and the Purchase Price of the Allottee if the current then Sale Price is less than the Purchase Price. The balance difference of the fresh sale price and the Purchase price shall be deducted besides the 10% and GST as aforesaid and amount of money paid by the Allottee after the aforesaid deductions shall subject to clause 8.8(iii) below be returned by the promoter Owner/Vendor to the Allottee after selling the Unit to a new purchaser Allottee within 45 days of such cancellation. Once the said flat is resold to any other allottee and subject to allottee executing necessary document for revocation of the Sale Agreement executed by him/her with the Promoter for allotment/purchase of flat and pay/borne all cost for execution and registration of that revocation documentsale.