Risland - The ACE, Perungudi Trap in the fine print

7th February 2021

If you are buying a new flat, my advice after losing 2 lakhs going with sugar coated words, is not to take any claim and commitment from the sales team even as a pinch of salt.

Let me explain how Risland – The Ace, Perungudi sets the trap.

If you are planning to buy a flat with them, the first step is to fill an application form and you make a token advance. Nothing gets started without this process. Even for you to get a legal opinion about the contract or other validations, this is the first step.

The trap is set in the fine print of the application form you will be made to sign in the sales office. Here is the copy if the application which we were made to sign in the pretext that they need the name and address on the form, in order to prepared and share the contract for review.

Risland - The ACE Application form clausePoint# 2 of Risland - The ACE

 

Here is the part of point# 2, which is the trap we fell in to:

“…The applicant further agrees that the balance amount i.e. difference between the booking advance and application money shall be paid by the applicant to promoter within 30 days from the date of this booking form, falling which, the promoter shall be entitles to cancel the provisional allotment and forfeit the application money without any protest and demure from the applicant.”

 

Important word to note here is “forfeit”, which means

verb

  • lose or be deprived of (property or a right or privilege) as a penalty for wrongdoing.
    "those unable to meet their taxes were liable to forfeit their estates"

noun

  • Law
    an item of property or a right or privilege lost as a legal penalty.

If this is a casual word to use in the form, my money would have been back with me and I am not writing this blag educating others. This word is there for a reason and I am paying the price for it.

I am writing this, so that others need not go through the loss and mental agony we are going through as a family because of trusting someone’s words, which is totally opposite to what we were made to sign.

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