Questions & Answers
The right to terminate SPA and ask for refund after delay in handover
Hi everyone,
I have bought a studio apartment, it was supposed to be ready by the 2nd quarter of 2018 but until now, just 54% is completed as per RERA.
I have made payment as per the payment plan 30% + DLD 4% already paid and 70% upon handover.
Can you tell me if it's possible to cancel it and take the amount back or compensation?
As discussed with the developer, they denied compensation and mentioned that we are in a remedy period. What should I do in this case?
Thanks
We need to review the sales and purchase agreement and investigate the current phase of the project.
And if you have any emails or any information, share it to see how we can help you
Almeshref Advocates and Legal Consultants
Dear Questioner,
Kindly send me a copy of the SPA to review.
If you are currently under the remedy period by the developer, there may be a second potential remedy that we can discuss.
You can contact me directly at my email.
Dear Questioner,
Normally, it is mentioned in the SPA that the completion period can be extended for a period of 1 year. If that is the case, I can clearly see that the extensional 1 year is also over.
Therefore, it is definitely possible to cancel the contract and claim back your investment.
Kindly contact us on our phone for a detailed discussion or write to us on our email for further assistance.
