ALL POLICIES

• 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

• 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 a 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.

Comprehensive Loan Facility Policy for Customers

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. 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.

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

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.

3.1 Non-Refundable Scenarios

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

• Loan rejection by the bank due to:
• Low credit score (CIBIL score).
• Insufficient income eligibility.
• Missing or incorrect documentation.
• Financial issues, such as:
• Lack of funds.
• Business losses, job loss, or other financial instability.
• Personal reasons, including relocation, job loss, or change of plans.
• 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.
• Shelter Layouts is not liable for delays in loan disbursement.
• Shelter Layouts is not liable for any disputes between the customer and the bank.
• Shelter Layouts is not liable for financial losses or consequences arising due to loan non-approval.
• Shelter Layouts is not liable for 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.