Cancellation Policy at Purva Northern Lights — What You Lose & What You Get Back

The cancellation policy mainly depends on the time at which you decide to cancel your booking. If you cancel your booking early, you will lose only a small amount, and most of your money will be returned to you. But if you cancel later, after completing steps like signing the agreement or making more payments, you will lose more money. This is because by that time, legal work, paperwork, and other charges are already done.

• At the starting stage, you have only paid the booking amount (token/EOI).
• Cancelling at this stage is easy and simple.
• The builder may cut a small amount as processing or admin charges.
• Most of your money will be returned to you.
• The refund usually comes within a few weeks.
• This is the safest stage to cancel if you are not sure about buying the apartment.

Once you sign the sale agreement, your booking becomes legally binding. By this stage, you may have already paid around 10–20% of the total property price.

What You Lose

• A higher amount is deducted as a penalty.
• Stamp duty and registration charges may not be fully refunded.
• Some taxes and extra charges may also be deducted.

What You Get Back

• Remaining amount after all deductions
• Refund is processed, but it may take more time.
• Since legal work and paperwork are already done, cancellation at this stage leads to higher loss and a slower refund.

If you cancel during the construction stage, your loss can be high. By this time, you may have already paid multiple instalments.

What You Lose

• A large amount can be deducted as per the agreement.
• Penalty charges may apply.
• In some cases, even the booking amount may not be returned.

What You Get Back

• Remaining amount after all deductions
• Refunds are given, but it can take several weeks or even a few months.
• Since construction is already in progress, cancelling at this stage leads to higher deductions and a slower refund process.

• If you have taken a home loan, the bank is also involved in the cancellation process.
• The refund amount is usually sent directly to your loan account.
• This amount is used to reduce or close your loan balance.
• You may have to pay interest for the time you used the loan.
• Bank processing fees are usually not refunded.
• The remaining refund amount is adjusted in your loan account.
• If any extra amount is left, it may be returned to you.
• So, even after cancellation, some bank charges may still apply.

• Before booking an apartment in Purva Northern Lights, always read the agreement carefully.
• Make sure you understand the cancellation rules and charges.
• Check how long the refund will take.
• Look for any hidden charges in the cost details.
• Keep all your payment receipts and documents safe.
• If needed, you can take help from a legal expert before signing the agreement.

The cancellation policy at Purva Northern Lights is made to ensure that only serious buyers go ahead. If you cancel early, you will lose only a small amount. But if you delay the decision and cancel later, your loss can be higher.