Settle allottee cancellations, refunds and delay interest

Compile each allottee payment with its date and compute the refund, forfeiture or delay interest against the agreement for sale and any RERA order. Legal can approve a defensible settlement while Treasury repays the allottee and financing bank and the unit returns to inventory.

Starts when

An allottee requests cancellation or refund, the promised possession date passes, or a RERA order directs a refund or interest.

Runs: Weekly to monthly across a developer's portfolio.

People in the process

LLegalProcess Owner
CCustomer RelationsParticipating Team
FFinanceParticipating Team
TTreasuryParticipating Team
SSalesParticipating Team
CComplianceParticipating Team

The process is a starting point. The standards are yours.

Configure for the parcel, state, project registration and transaction. Title opinions, permissions, RERA reporting and professional certifications require the relevant qualified reviewers.

Keep the work connected.

Legal

Verify land title and encumbrances before acquiring a parcel

Trace the parcel's title deeds, revenue and mutation records, encumbrance and litigation searches, survey measurements and zoning status into one title report. The land committee can approve the acquisition on a cleared title, and Finance releases payment only after every listed defect is cured.

LSPMF

Finance

Approve RERA project account withdrawals against certified completion

Reconcile allottee collections and deposits with the architect, engineer and chartered accountant certificates behind each withdrawal request. Finance can draw only the certified proportion, spend it on that project's land and construction, and keep a cost trail ready for the annual audit.

PPT

Compliance

File RERA quarterly updates and audited project account statements

Reconcile units booked, construction status, approvals and the architect, engineer and chartered accountant certificates with the designated account and the previous quarter's filing. Compliance can upload each project's update with an evidence file behind every figure and answer authority queries from the record.

SPFL

Explore all Land & real estate processes.

Order for the work. Room for the people.