At Soha Properties Private Limited, we strive to maintain absolute transparency. This Refund & Cancellation Policy documents the procedures, deductions, and timelines regarding the cancellation of booking token applications and home loan eligibility rejections.
1. Cancellation of Booking Token
If a buyer wishes to cancel their booking application after paying the initial token deposit but before signing the official Builder-Buyer agreement:
- Written Request: A formal cancellation request must be submitted via email to sales@sohaproperties.com from the registered buyer's email address.
- Deduction Clause: A standard administrative and processing fee of 5% of the token value paid will be deducted. The remaining amount will be refunded.
- Timeline: Once approved, the refund will be processed via bank transfer within 30 to 45 business days.
2. Rejection of Home Loans
If the buyer's home loan application is rejected by our pre-approved banking partners due to documentation errors, eligibility constraints, or credit checks:
- The buyer must submit the official loan rejection letter from the bank.
- Soha Properties will refund 100% of the token booking deposit without any administrative deductions.
- The refund will be executed within 15-20 business days of validating the rejection document.
3. Post-Agreement Cancellation
Once the Builder-Buyer Agreement is officially executed, registered with the sub-registrar office, and stamped, any cancellation requests will be strictly governed by the specific terms, refund interest parameters, and penalty clauses outlined in the registered agreement, in full alignment with MahaRERA guidelines.
4. Contact Us
For any queries related to booking deposits, invoicing, bank clearances, or cancellation status, please contact our CRM Accounts Desk at info@sohaproperties.com or call +91 98765 43210.