Builders Cannot Deduct More Than 10% of Base Price on Homebuyer Cancellations
📅 February 10, 2025
The Supreme Court has ruled that developers cannot deduct more than 10% of a home's basic sale price when a buyer cancels a booking. This decision holds that one-sided, unfair contractual terms constitute an unfair trade practice. The ruling enhances homebuyer protection regarding cancellations and is expected to compel developers to revise their booking and refund clauses across various projects.
