THE REFUND CASES

1. The home buyers who have opted a refund till 30th June 2022 and has not withdrawn the option so far up to that date has been treated a home buyer who have finally opted the refund. And a list of such home buyers is be published on the Court Receiver portal. A 15 Days grace window is further provided up to 15/7/2022 to withdraw the option, if any, failing which this list shall be treated as final. The home buyer mentioned in that list shall not be having any option other than seeking the refund, as units allotted in his/her name shall be released and treated as an unsold inventory for sale by marketing team.
2. The amount paid by these home buyers shall be refunded only after the surrendered unit is Auctioned/Sold and a substantial amount is received from the prospective home buyer. The substantial amount is defined here as 80 %.
3. However, if the project is complete in which such unit is situated and still the surrendered flat remains unsold, the refund seeker shall be entitled to get the money on the final completion of the overall project.
4. The refund seeker home buyer has to return back all the original documents related to the unit along with the identification KYC proof for calming the refund. He has also to submit an undertaking cum affidavit for taking the refund in the prescribed format.
5. The home buyers who have obtained home loan need to provide no dues cum no objection certificate from the respective banks.