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Cancellation and Refund Policy

Introduction

Tathastu Realty is committed to providing transparent and fair dealings in compliance with the Affordable Housing Policy 2016 amended up to the date. This Refund and Cancellation Policy outlines the procedures and conditions for cancellations and refunds.

Cancellation & Refund Policy

Request for Cancellation
  • All requests for cancellation must be made in writing and submitted to the concerned department through our official communication channels (email, postal mail, or in-person at our office).
  • The request should include the project name, unit number, and reason for cancellation.
Cancellation Charges
  • On surrender of flat by any successful allotee OR due to non-payment of due amount payable the amount that can be forfeited by the colonizer in addition to Rs. 25000/- shall not exceed the following amounts:
    Sr.No. Particulars Amount to be forfeited
    1 In case of surrender of the flat before commencement of the project. Nil
    2 Upto 1 year from the date of commencement of the project. 1% of the cost of flat
    3 Upto 2 year from the date of commencement of the project. 3% of the cost of flat
    4 After 2 year from the date of commencement of the project. 5% of the cost of flat
Processing Time
  • Upon receiving the cancellation request, Tathastu Realty will acknowledge receipt within the stipulated timeframe.
  • The processing of cancellation will be completed within 45-60 working days from the date of receipt of the cancellation request.
Refund Amount
  • The refund amount will be calculated after deducting the cancellation charges and any non-refundable amounts (e.g., taxes, GST, Administrative fees, brokerage (if any).
Refund Processing Time
  • Refunds will be processed within 45-60 working days from the date of approval of the cancellation request.
Mode of Refund
  • Refunds will be made to the specifically first applicants name only.

Possession Clause:

All flats in a specific project shall offered within the validity of 4 years plus 6 month grace period of building plans sanctioned or receipt of environmental clearance whichever is later as specified in the affordable housing policy amended up to the date.

Possession of the Unit / Apartment for Residential Usage:

Schedule for possession of the said Unit for residential usage - The Promoter agrees and understands that timely delivery of possession of the unit for Residential usage along with parking (if applicable) to the Allottee and the common areas to the association of allottees or the competent authority, as the case may be, as provided under Rule 2(1)(f) of Rules, 2017, is the essence of the Agreement.

The Promoter assures to hand over possession of the Unit for Residential usage along with parking (if applicable) as per the time schedule submitted before Haryana Real Estate Regulatory Authority, Gurugram the same can be accessible on their website (https://haryanarera.gov.in) provided the Allottee is not in breach of the terms of this Agreement or unless there is delay due to “force majeure”, Court orders, Government policy/ guidelines, decisions affecting the regular development of the real estate project. If, the completion of the Project is delayed due to the above conditions, then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Unit. It is further agreed that the time period for handing over possession of the ‘said Unit’ can also be extended as per the mutual agreement between the parties.

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