Cancellation & Refund Policy
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Olympia Group (‘Promoter’) reserves the right to reject the application for no cause.
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If the information furnished in the application or any other documents furnished by the Applicant/s are inaccurate or false or for violation of term no. 10 , then the Promoter shall be entitled to reject the application.
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The Applicant/s shall execute the Agreement for Sale with the land owners and Agreement for Construction as per the terms of the Allotment letter, which shall be issued pursuant to the scrutiny of the information submitted under this application.
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All payments shall be made in timely manner as per the payment schedule as may be agreed under the the Agreement of Sale and Construction.
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In the event of Agreement for sale and Agreement for Construction are not executed within the period set out in the Booking Form, then the Promoter shall be entitled to cancel the Application and levy cancellation charges of 10% of the cost of the apartment.
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In case the applicant/s cancels the apartment for no fault of the Promoter, then the Promoter will deduct 10% of the cost of the apartment and refund the balance within 90 days upon execution of necessary cancellation documents, if required.
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If the applicant fails to come forward to collect the refund amounts, Promoter shall post the pay order at the address provided by the First Applicant in this Application. The quantum of forfeiture is a concluded agreement between the Applicant and Promoter.
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In case Promoter rejects the Application for any valid reasons other than failure of the Applicant to execute Agreement for Sale and Agreement for Construction, Promoter shall refund the application amount within 30 days of rejection without any deductions.
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Promoter shall post the refund cheque under term no 10 at the address given by the First Applicant in this Application and all obligation of Promoter towards the Applicant under this application shall stand discharged in full.
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Notice sent at the address given by the First Applicant in this Application shall be sufficient proof of service to the Applicant and at the end of 15 days of the notice date.
