Any One Can cancel flat booking?


Can I cancel my flat booking? S.Suresh Kumar, Via Mail.
Ans: by www.myreality.in - A Chennai based fast growing Real Estate Portal
Cancellation of  housing units (flat) booking is permitted before the UDS (Undiveded Share) land registration in your favour and will attract 2% cancellation charges on full value of the apartment.
Any cancellation after UDS land registration will be considered as resale hence will attract 2% on resale charges on new sale value of the apartment, and the balance will be returned to you as soon as it is sold. This is general rule only. It vary depend on buliders and promoters. 
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