Refund and Cancellation Policy
Our focus is complete customer satisfaction. In the event, if you are displeased with the services provided, we will refund the money, provided the reasons are genuine and proved after investigation. Please read the fine prints of each deal before buying it, it provides all the details about the services or the residential property unit(s) you purchase.
In case of dissatisfaction from our services, clients have the liberty to cancel their booking and request a refund from us. Our Policy for the cancellation and refund will be as follows:
For Cancellations, please contact us via contact us link.
Cancellation requests received after your mail then refund process initiate and amount will be return in your Account within 30 Day.
We will try our best to create the suitable design concepts for our clients.
In case, any client is completely not satisfied with our offerings, we can provide a refund with 10% deduction of the total deposited amount with us, provided the users have applied for refund within 72 hours from the time of booking. So, it would be better to be completely sure before booking with us.
Refund against cancellation in between 72 hours & Expiry Period will attract 75% deduction of the total deposited amount with us.
The Expiry Period will be considered as the completion of 15 days from the date of booking. Refund request after fifteen days (expiry period) will not be entertained.
Also, user’s inability to pay balance amount (other than booking amount via OXORealty.com) directly to the builder/developer/other service provider (Real Estate Professionals i.e. REP) on our website in the stipulated given time, known as authorized period, entire deposited booking amount will be forfeited without any prior information to the user(s). Forfeit action will be taken once our REP will inform us about the user’s failure in paying them the required amount.
The authorized period details along with the required amount will be mentioned at the time of booking at OXORealty.com against any builder/developer/other service provider (REP).
If paid by credit card/debit card, refunds will be issued to the original credit card/debit card provided at the time of booking and, in case of payment gateway name payments refund will be made to the same account.
Cancellation and Refund under RERA
RERA registration and RERA Act is applicable for all residential real estate development with 8 units or development of plots with a total area of over 500 square meters. The RERA Act permits the homebuyer, otherwise known as an allottee, to withdraw from the real estate agreement, whether or not the developer is at default. In such a scenario, the developer is obliged to refund the amount paid by the allottee within a period of 90 days (according to TNRERA) of the allottee’s withdrawal, after deducting the amount paid for the allotment. In this article, we look at the rules and regulations relating to cancellation and refund under RERA in detail.
Cancellation under RERA
A homebuyer may withdraw from a purchase agreement for varied reasons. While some of them can be attributed to the default committed by a promoter, the other likely reasons for such a withdrawal could be due to dismal market situations, personal or financial emergencies or other reasons.
Home buyers rights under RERA.
If a promoter fails to complete a project within the stipulated time or is unable to provide possession of the real estate property due to any reason whatsoever, the promoter must refund to the homebuyer, any amount received for the property. In addition to refund of the amount paid, the promoter is also required to pay an interest at the prescribed rate in this behalf including compensation.
Finally, the promoter is also required to compensate a homebuyer on any losses caused due to a defective title of the land, on which the project is/has been developed.
In case of delay and if the buyer is unwilling to withdraw from the contract, the promoter is obligated to pay the necessary interest until the project is completed. However, if the delay occurs due to any natural or other calamities which is not in the control of the developer, the promoter is not obligated to make any payment of interest.
If a homebuyer fails to make the necessary payments for a continuous period of time, the developer is empowered to terminate the agreement and revoke the allotment made to the buyer. The provision of refund here is no different from the general RERA rule i.e. the amount paid to the promoter must be refunded to the homebuyer within a period of 90 days, (According to TNRERA) excluding booking amount and interest liabilities.
The liability for paying interest not only affects the promoter but the homebuyer as well. The promoter is entitled to claim interest from the homebuyer for any delay in payments.
Amendment of Agreement
The RERA Act now provides room for both allottees and developers to amend the sales agreement, provided both the parties consent to it by writing.