Homebuyer Not Entitled For Refund On Cancellation If Payment Is Less Than 10% Of Sale Consideration: Haryana RERA

The Haryana Real Estate Regulatory Authority (RERA) has rejected a homebuyer's refund claim after the developer cancelled their allotment due to the homebuyer's consistent non-payment of installments. This ruling emphasizes the homebuyer's responsibility to adhere strictly to the payment schedules stipulated in the builder-buyer agreement. RERA's decision upholds the contractual obligations on both sides, indicating that while homebuyers have rights, they also bear duties, including timely financial commitments. The Authority's stance reinforces the sanctity of the agreement and provides clarity to developers regarding their right to cancel allotments in cases of prolonged default, ensuring project timelines and financial viability are not unduly jeopardized by buyer non-compliance.