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Home / Legal / I paid 90% amount to RERA approved property via RTGS transfer to RERA linked bank account. Its been 3 months and I haven't entered into any agreement with the builder so far, though he shared draft of an agreement with me. Now due to some personal problem, I want to come out of the project. How much money I have to pay as penalty ?
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I paid 90% amount to RERA approved property via RTGS transfer to RERA linked bank account. Its been 3 months and I haven't entered into any agreement with the builder so far, though he shared draft of an agreement with me. Now due to some personal problem, I want to come out of the project. How much money I have to pay as penalty ?

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2 2021-02-01T11:26:54+00:00
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Ideally, you shouldn't have transferred the money without signing an agreement with the builder. Penalty amount is decided mutually between both the parties - the builder and you. But if you find the amount quoted by the builder to be unreasonable, you can challenge it in court.

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Siddhartha N

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