iconrealestate's Journal

 
    
04
Mar 2025
11:45 AM IST
   

Refund Policy for Property Buyers: What Happens When a Project Is Cancelled?

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Off-plan developments can yield significant financial benefits, but the risk of cancellation exists. A primary concern for investors is the potential for recovering their invested funds in such an event. Consequently, understanding the laws, protocols, and regulations related to off-plan project cancellations is essential.

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Understanding Off-Plan Project Cancellations

When a construction initiative for pre-sold properties is terminated, the building phase is interrupted before its intended conclusion. These terminations can arise from protracted construction timelines or limitations imposed by monetary or judicial constraints. In these events, either the building contractors or administrative entities, such as the Real Estate Regulatory Authority, are empowered to halt the project’s continuation definitively...Read More
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  • Username: iconrealestate
  • Gender / Age: Male, 31
  • Location: United Arab Emirates
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