1. Booking Confirmation

• A booking shall be considered confirmed only after the booking amount is received from the Purchaser.
• Upon receipt of the booking amount, Shelter Layouts Pvt Ltd will provide the Purchaser with the property documents for verification.
• The booking amount can be paid via Demand Draft (DD), Cheque, Card Payment, or UPI.

2. Booking Validity

• The booking will remain valid for 7 days from the date of confirmation.
• If the Purchaser fails to proceed within this period, the booking shall be automatically cancelled.
• The Purchaser may claim the booking amount refund as per the cancellation policy.

3. Payment Terms

• The Purchaser must complete the full payment or arrange for a loan to proceed with the property purchase.
• Shelter Layouts Pvt Ltd only facilitates loan assistance but is not responsible for loan approval or disbursement.
• The Purchaser is responsible for all government charges, including stamp duty, registration fees, and loan processing charges.

4. Non-Transferability

A confirmed booking is non-transferable to any other party or property unless approved by Shelter Layouts Pvt Ltd.

5. Refund & Cancellation Policy

• 100% of the booking amount shall be refunded if the booking is cancelled within the 7-day validity period and the Purchaser returns the property documents.
• If the Purchaser fails to return the documents, a Rs. 3000/- deduction shall apply.
• If the Purchaser cancels after signing the sale agreement, the agreement amount is strictly non-refundable.

6. Legal Considerations

• The Purchaser acknowledges that they have read and understood this policy before making a booking.
• Any disputes related to bookings will be subject to the jurisdiction of the courts in Bengaluru, Karnataka.

7. Contact for Booking Queries

For any booking-related inquiries, customers can contact:

• Email: info@shelterlayouts.com
  
• Phone: +91-8105807834
• Office Address: 173, 5th Cross, Post, Rifco Shantiniketan Layout, Virgonagar, Medahalli, Bengaluru, Karnataka 560049

Objective:

This policy outlines the terms and conditions related to booking cancellations for plots purchased from Shelter Layouts Pvt Ltd. It ensures transparency and protects both the company and customers by defining the refund and cancellation process.

1. General Guidelines for Booking Cancellation

• The booking shall be confirmed only after receiving the booking amount from the Purchaser. Upon confirmation, the Seller will provide the property documents to the Purchaser.
• The booking amount shall be collected via Demand Draft (DD), Cheque, Card Payment, or UPI.
• The booking will remain valid for 7 days from the date of booking confirmation. After 7 days, if no further action is taken, the booking shall be automatically cancelled, and the Purchaser may claim the booking amount from the Seller at any time.
• Refunds of the booking amount shall be processed through Account Transfer, Cheque, or UPI only.

2. Refund Policy

• 100% of the booking amount shall be refunded if the booking is cancelled, provided that the Purchaser returns the property documents to the Seller.
• In case the Purchaser fails to return the property documents, a deduction of Rs. 3000/- shall be applied before processing the refund.

3. Non-Refundable Agreement Amount

Once the sale agreement is executed, the agreement amount is strictly non-refundable.

Refunds will not be issued for cancellations due to:

• • Loan rejection by the bank.
  • Financial constraints of the customer.
  • Personal reasons such as relocation, job loss, or change of plans.
  • Delays in loan disbursement from the bank.
  • Failure to complete required documentation.

4. Exceptional Circumstances

• In case of unforeseen legal disputes or government restrictions affecting the project, the company reserves the right to cancel the booking and refund the amount as per company policies.
• If Shelter Layouts Pvt Ltd cancels the booking due to non-approval of the project by regulatory authorities, the customer will receive a full refund.

5. Refund Processing

• Refunds, if applicable, will be processed through bank transfer only.
• The processing time for eligible refunds is 90 working days from the date of cancellation approval.
• The company will not be liable for any interest or compensation on the refunded amount.

6. Legal Considerations

• The company holds the right to revise or modify this policy at any time.
• Any disputes related to cancellations will be subject to the jurisdiction of the courts in Bengaluru, Karnataka.
• Customers acknowledge that they have read and understood this policy before making a booking.

7. Contact for Cancellations

For any cancellation requests or inquiries, customers can contact:

• Email: info@shelterlayouts.com
  
• Phone: +91-8105807834
• Office Address: 173, 5th Cross, Post, Rifco Shantiniketan Layout, Virgonagar, Medahalli, Bengaluru, Karnataka 560049

1. General Cancellation Terms

• The cancellation of a signed sale agreement is subject to the terms and conditions outlined in this policy.
• Once the agreement is executed, the agreement amount is strictly non-refundable.
• Any request for cancellation must be made in writing and submitted to Shelter Layouts Pvt Ltd through email or physical letter.

2. Non-Refundable Agreement Amount

The agreement amount will not be refunded under any circumstances, including but not limited to:

• Loan rejection by the bank.
• Financial difficulties of the Purchaser.
• Personal reasons, including relocation, job loss, or change of plans.
• Loan disbursement delays from the financial institution.
• Failure to complete required documentation for registration or loan approval.

3. Exceptional Circumstances

Refunds may be considered only under the following circumstances:

• If Shelter Layouts Pvt Ltd cancels the agreement due to project non-approval by regulatory authorities.
• Any legal disputes or government restrictions that prevent the project from proceeding.
• If there is a mutual agreement between both parties for cancellation, subject to deductions as per company policy.

4. Legal Consequences of Cancellation

If the Purchaser fails to fulfill payment obligations after signing the agreement, Shelter Layouts Pvt Ltd reserves the right to:

• Cancel the allotment without refund.
• Take legal action to recover outstanding dues.
• Re-market the property without prior notice to the Purchaser.

5. Refund Processing for Eligible Cases

• If a refund is applicable as per Section 3, it will be processed within 90 working days.
• Refunds will be made via bank transfer only.
• Shelter Layouts Pvt Ltd will not be liable for any interest or compensation on refunded amounts.

6. Dispute Resolution

• Any disputes regarding agreement cancellations shall be resolved through negotiation.
• If unresolved, disputes shall be subject to the jurisdiction of the courts in Bengaluru, Karnataka.

7. Contact for Cancellation Requests

For any cancellation-related inquiries, Purchasers can contact:

• Email: info@shelterlayouts.com
  
• Phone: +91-8105807834
• Office Address: 173, 5th Cross, Post, Rifco Shantiniketan Layout, Virgonagar, Medahalli, Bengaluru, Karnataka 560049

1. Loan Assistance & Commitment

This policy defines the roles, responsibilities, and limitations of Shelter Layouts Pvt Ltd regarding loan assistance for customers purchasing plots. The goal is to ensure transparency, clarity, and compliance with financial regulations while setting proper expectations for customers.

1.1 General Guidelines

• Shelter Layouts does not provide direct financing or guarantee loans. Instead, we offer guidance in securing a loan from financial institutions.
• We do not commit to loan approvals beyond Reserve Bank of India (RBI) regulations.
• Loan eligibility and approval are subject to the bank’s assessment, and Shelter Layouts is not liable if a customer fails to secure a loan.

1.2 Loan-to-Value (LTV) Ratio & Funding Limits

As per RBI norms, the bank may finance up to 75% of the property cost, depending on:

• Customer’s financial eligibility (income, credit history, etc.).
• Project approval by the bank (if the project is eligible for bank funding).
• The bank’s decision on the loan amount is final, and Shelter Layouts has no role in increasing the loan sanction limit.

1.3 No Commitment for Specific Banks

• Shelter Layouts does not recommend or guarantee a loan from any particular bank.
• The customer is free to apply for a loan from any approved financial institution.

Loan processing depends on:

• The bank’s assessment of the project.
• The customer’s individual eligibility.

2. Customer’s Responsibility in Loan Process

2.1 Role of the Customer

While Shelter Layouts provides loan assistance, it is ultimately the customer’s responsibility to:

• Select a bank or financial institution.
• Complete all necessary documentation required by the bank.
• Process and ensure loan disbursement in a timely manner.

2.2 Loan Processing & Disbursement Responsibility

Once the sale agreement is signed, the customer must:

• Arrange funding (through a bank loan or self-financing).
• Ensure timely disbursement of the loan to Shelter Layouts.
• Shelter Layouts is not responsible for delays or issues in loan disbursement.
• If the loan is delayed or not approved, the customer must arrange alternative funding to complete the purchase.

3. Non-Refundable Agreement Amount

3.1 Non-Refundable Terms

• Once the customer signs the sale agreement, the agreement amount becomes strictly non-refundable.
• If the customer fails to secure a loan, the agreement amount will not be refunded.

3.2 Non-Refundable Scenarios

Refunds will not be provided under any of the following conditions:

Loan Rejection – If the bank denies the loan due to:

• Low credit score (CIBIL score).
• Insufficient income eligibility.
• Missing or incorrect documentation.
• Financial Issues – If the customer is unable to pay due to:
• Lack of funds.
• Business losses, job loss, or other financial instability.
• Personal Reasons – If the customer withdraws from the purchase due to personal, legal, or other reasons.
• Loan Delays – If the loan process takes longer than expected and the customer cancels the booking.
• Documentation Issues – If the customer fails to provide the necessary documents, leading to loan rejection.

4. Additional Customer-Related Responsibilities & Charges

4.1 Income Eligibility & Credit Score

• The bank assesses loan eligibility based on the customer’s income and creditworthiness.
• If the customer does not meet the bank’s income requirements, Shelter Layouts is not responsible for the rejection.
• Customers should ensure their CIBIL score is in good standing before applying for a loan.

4.2 Stamp Duty & Registration Charges

• Customers must bear the cost of government stamp duty for property registration.
• Stamp duty is 0.5% of the sale agreement value, as per government regulations.
• Shelter Layouts is not responsible for stamp duty or registration fees.

4.3 Bank Processing Fees

Any charges related to loan processing, including bank fees, legal verification charges, and mortgage registration fees, must be paid by the customer.

4.4 Documentation Issues

• The customer is responsible for providing correct and complete documentation, such as:
• PAN card, Aadhaar card, income proof, ITR documents, etc.
• Any delays due to missing or incorrect documents are not Shelter Layouts’ responsibility.

5. Important Legal Considerations

5.1 Agreement is Legally Binding

Once the sale agreement is signed, the customer must complete the payment as per the agreed schedule.

If the customer fails to pay, Shelter Layouts reserves the right to:

• Cancel the allotment without a refund.
• Take legal action to recover outstanding amounts.

5.2 Loan is the Customer’s Responsibility

• Shelter Layouts only assists in loan processing but does not guarantee funding.
• If the customer cannot secure a loan, they must arrange funds through other means.

5.3 No Legal Obligation on Shelter Layouts

Shelter Layouts is not liable for:

• Loan rejections or partial loan approvals.
• Delays in loan disbursement.
• Any disputes between the customer and the bank.
• Financial losses or consequences arising due to loan non-approval.
• Any modifications in bank loan policies affecting the customer’s loan approval.

Conclusion

This policy ensures that customers clearly understand their responsibilities in the loan process. While Shelter Layouts offers support in securing a loan, the final responsibility lies with the customer to arrange funds and complete the purchase.

For further assistance, customers may contact our support team.