Refunding of token amount

Digambar Gole (Querist) 01 February 2016 This query is : Resolved
I had given Rs. 50000 to flat owner as token amount in April 2015 for old property. after 40 days of that due to my financial reason i cancelled flat.now flat owner is refusing to give back token amount. please suggest what i need to do?

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rajagopal.s (Expert) 01 February 2016
HI
Normally token sign up amounts are not refundable. however some builders give the money back if they have other customers. you should request the owner to return the money.

Rajendra K Goyal (Expert) 01 February 2016
You can refer the terms of agreement.

Raj Kumar Makkad (Expert) 01 February 2016
Token amount as a matter of right cannot be claimed back, however, in practical life refunds are made if due to financial crunch, such deals are cancelled with some reasonable deduction. So better to try for some settlement.

Digambar Gole (Querist) 02 February 2016
That Flat owner is desucting 60% amount. means he is giving Rs. 20000 thousand apart from Rs.50000. can i take legal action through advocate? why is deducting 60%, i havent signed any agreement. And i have given check payment.

your advice please.

Digambar Gole (Querist) 02 February 2016
one more thing this flat was old property. i was buying from that flat owner

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