I’ve seen few properties listed on various Indian real estate websites where owner has specifically asked for 10% booking amount. Is it legal and should we give booking amount to the owner?
owner has specifically asked for 10% booking amount. Is it legal and should we give booking amount to the owner?
Booking amount is mainly asked by builders/developers who want to lock in the property while they go through the process.
This is not mandatory and 10% is the max amount allowed by the RERA. This amount is deposited in a common escrow account.
If owner is an individual he shouldn’t ask for it.
If you have seen this mentioned on the website then owner must be an individual builder, ask him that.
Don’t pay booking amount to owners.
In any case booking amount is fucking nonsense stuff. These assholes make their own rules and think that buyers are idiots.
NEVER PAY ANY BOOKING FEE TO OWNER.
