Booking Cancellation Policy

Palm Riveria (Marketed as GKC Grand Kausa City)

Yes Realty, the Promoter of the MahaRERA-registered project Palm Riveria (marketed as GKC Grand Kausa City), has formulated this Comprehensive Booking Cancellation and Refund Policy to define the terms, conditions, and procedures related to booking cancellations, refunds, and forfeitures. The policy aims to ensure transparency between the Promoter and Allottees, compliance with the Real Estate (Regulation and Development) Act, 2016, and fair resolution of financial matters arising from booking withdrawal or cancellation. It applies to all residential and non-residential units under Palm Riveria, including both offline and online bookings, as well as those made under the Allotment Reservation (AR) Scheme.
For the purpose of this policy, “Promoter” refers to Yes Realty; “Allottee” means any person who has booked a unit and paid an advance; “Agreement for Sale (AFS)” refers to the registered sale agreement executed between both parties under Section 13 of the RERA Act; “Booking Amount” denotes the initial payment made to reserve a unit; and “AR Scheme” signifies the Allotment Reservation Scheme applicable during the pre-launch phase.
A booking is confirmed only after receipt of the booking amount, issuance of an official acknowledgment or provisional allotment letter, and verification of the Allottee’s KYC and identification documents. The booking remains provisional until the Agreement for Sale is executed and registered. The Promoter reserves the right to cancel any booking if documentation, payments, or verifications are incomplete or inconsistent.
If an Allottee voluntarily cancels the booking before execution of the Agreement for Sale, a deduction of 2% of the total consideration value or ₹50,000 (whichever is higher) will be charged towards administrative costs. Applicable government taxes and duties are non-refundable. The remaining balance will be refunded within 60 days upon receiving a written cancellation request supported by necessary documents such as booking receipts, ID proof, and original allotment letters.
If cancellation occurs after execution and registration of the Agreement for Sale, the terms of the AFS and RERA provisions shall apply. The Promoter may deduct up to 10% of the total sale consideration as liquidated damages, and taxes, stamp duty, or registration fees will not be refunded. Refunds, if applicable, will be made within 90 days from receipt of the cancellation request, and in cases where the unit is financed, the refund shall be processed directly to the financing institution.
For cancellations under the Allotment Reservation (AR) Scheme, once a reservation number or priority token has been allotted, the booking is considered confirmed. Any cancellation after this stage will attract a deduction of 25% of the reservation or booking amount. Reservation benefits or queue positions under the AR Scheme are non-transferable and non-reinstatable once cancelled, and refunds will be processed within 90 days.
The Promoter may also cancel a booking in cases of non-payment of instalments despite two written reminders, submission of false information, or breach of conditions under the Allotment or AFS. In such cases, up to 10% of the total sale consideration or the entire booking amount (whichever is higher) may be forfeited, and the balance, if any, refunded within 90 days after necessary adjustments. Upon cancellation, a written notice will be issued, and the unit will be released for fresh booking.
Refunds are made only to the original Allottee’s verified bank account via NEFT/RTGS or cheque — never in cash or to third parties. Refund timelines are 60 days for pre-AFS cancellations and 90 days for post-AFS or AR Scheme cancellations. In case of delay, the Allottee is entitled to an interest rate of 9% per annum as per Rule 18 of MahaRERA (General) Rules, 2017.
Transfer of booking is allowed only before the execution of AFS with prior approval from the Promoter, subject to a non-refundable administrative fee of ₹25,000. Any transfer after execution requires a tripartite agreement in accordance with RERA regulations. Once cancelled, the Allottee forfeits all rights to the unit, and the Promoter may re-allot or resell it. Any subsequent booking by the same individual will be treated as a fresh transaction.
In cases of force majeure—such as natural calamities, government restrictions, court orders, or policy changes—refunds or cancellations will be mutually decided, in compliance with Section 6 of the RERA Act, and may be delayed for up to six months due to regulatory clearances.
Disputes related to cancellation or refund shall first be addressed to the Allottee Grievance Redressal Officer at Yes Realty. If unresolved, the matter may be escalated to the MahaRERA Authority, Mumbai or MahaRERA Appellate Tribunal under Sections 31 and 43 of the RERA Act, 2016.
This policy is consistent with the registered Agreement for Sale, MahaRERA disclosures, and applicable legal provisions. Yes Realty remains committed to transparent, lawful, and ethical business practices ensuring fair treatment for all allottees.
By making a booking or payment toward any unit in Palm Riveria (GKC Grand Kausa City), the Allottee confirms full understanding and acceptance of this policy, agrees to all deductions and timelines stated herein, and acknowledges that all transactions are subject to the registered Agreement for Sale.
Promoter Declaration: This policy forms an integral part of the booking documentation for Palm Riveria (MahaRERA No. P51700056303) and may be updated from time to time in line with statutory or procedural changes.

Expression of Interest (EOI) – Terms, Conditions & Refund Policy

Palm Riveria (Marketed as GKC Grand Kausa City)

This Expression of Interest (EOI) governs the preliminary understanding between Yes Realty (“Promoter/Developer”) and the Applicant/Prospective Allottee (“Applicant/Customer”) regarding their intent to purchase a residential or commercial unit in the MahaRERA-registered project Palm Riveria (Marketed as GKC Grand Kausa City, MahaRERA Reg. No. P51700056303). The project is promoted by Yes Realty, with its registered office at Survey No. 55, Central Empire, Veer Abdul Hamid Road, Kausa–Mumbra, Thane 400612, Maharashtra, under the planning authority of Thane Municipal Corporation. This EOI signifies a preliminary expression of interest only and shall not be construed as a final booking, allotment, or legal agreement for sale. The final and binding rights and obligations of both parties shall arise solely upon execution and registration of an Agreement for Sale (AFS) as per Section 13 of the Real Estate (Regulation and Development) Act, 2016 (RERA).
The Applicant hereby expresses interest in a specific unit type (such as 1 BHK, 2 BHK, Shop, or Office) within the said project. This EOI is indicative and non-binding, intended only to record genuine interest before formal allotment. It does not confer any right, title, lien, or ownership on any specific unit. Allotment, possession, and ownership will occur only after execution of a duly stamped and registered Agreement for Sale. The Applicant shall pay an EOI Amount (token amount), determined by the Promoter at submission, via Cheque/DD/NEFT/RTGS/UPI in favor of the project’s RERA-Compliant Escrow Account maintained with HDFC Bank (IFSC: HDFC0001803). This amount reflects serious purchase intent and will be adjusted towards the booking value upon allotment; however, it does not guarantee allocation or price protection until formal allotment.
Upon receipt of the EOI, the Promoter will acknowledge payment, verify Applicant details, and—based on availability—invite eligible Applicants to participate in the official allotment process under the Allotment Reservation (AR) Scheme. Successful Applicants will receive a Provisional Allotment Letter specifying the unit, price, payment plan, and timelines, followed by execution of the Agreement for Sale as per RERA norms. If no unit is allotted, the EOI amount will be refunded in full as per the Refund Policy. Prices at the EOI stage are indicative and subject to change based on unit location, floor rise, or market conditions. The final price will include applicable taxes, GST, stamp duty, registration fees, legal and infrastructure charges, and other statutory levies, payable as per the agreed payment schedule.
The Applicant confirms having read and understood the contents of this EOI and the disclosures available on the MahaRERA website. They acknowledge that this is not a confirmed booking, that the Promoter may accept or reject any EOI at its discretion, and that necessary KYC documents such as PAN, Aadhaar, and address proof will be provided. The Applicant agrees to receive communications via SMS, WhatsApp, Email, or Registered Post and understands that any misrepresentation may lead to cancellation. The Promoter, in turn, commits to maintaining transparency regarding title, approvals, and registration; processing EOI applications and refunds per policy; and retaining the right to amend project details as approved by Thane Municipal Corporation. The Promoter shall not be liable for delays or non-allotment arising from force majeure, regulatory orders, or unforeseen restrictions.
Under the Refund Policy, if the Applicant withdraws within 30 days of EOI submission and before allotment, the full amount will be refunded without deduction within 45 working days. If withdrawal occurs after allotment but before signing the AFS, 10% of the EOI amount will be deducted as an administrative fee, and the balance refunded within 60 working days. In case of non-allotment or project cancellation by the Promoter, the full amount will be refunded without deduction or interest within 60 working days. Once the Agreement for Sale is executed, the EOI amount becomes non-refundable and adjusted towards the sale consideration. All refunds will be credited only to the original payment source.
This EOI is non-transferable and non-assignable without prior written consent of the Promoter. Any attempt to sell or assign this EOI to a third party shall render it void. All visuals and marketing materials are artist’s impressions for representational purposes only. The project’s ownership and approvals are publicly verifiable on the MahaRERA portal (🔗 https://maharerait.maharashtra.gov.in ). The Promoter disclaims liability for any misinterpretation of promotional content, and Applicants are advised to conduct independent due diligence before proceeding with final purchase.
This EOI shall be governed by the laws of India, and any dispute shall fall under the exclusive jurisdiction of the courts in Thane, Maharashtra. Both parties agree to attempt amicable resolution through mutual discussion before any legal action. The Promoter shall not be held responsible for delays or non-performance caused by force majeure events such as natural calamities, pandemics, government actions, or court injunctions. Applicant data collected under this EOI will be handled in accordance with the Yes Realty Privacy Policy and used solely for legitimate project-related purposes.
This document represents the entire understanding between the Applicant and Promoter regarding preliminary interest in Palm Riveria (Marketed as GKC Grand Kausa City) and supersedes all prior communications. By signing or submitting this EOI, the Applicant confirms that they have read, understood, and voluntarily agreed to all terms, conditions, and refund provisions herein, and that all information provided is true and correct.
Disclaimer: This Expression of Interest does not constitute an offer, allotment, or legally binding contract. All transactions related to Palm Riveria (Marketed as GKC Grand Kausa City) shall be governed exclusively by the duly executed Agreement for Sale between the Promoter and Allottee as per RERA provisions.

Refund Policy

Palm Riveria (Marketed as GKC Grand Kausa City)

The Refund Policy for Palm Riveria (Marketed as GKC Grand Kausa City) has been formulated to ensure clarity, transparency, and full compliance with the Real Estate (Regulation and Development) Act, 2016 (RERA), the MahaRERA Rules, 2017, and the Agreement for Sale (AFS) executed between the Promoter and the Allottee. It defines the procedures, eligibility criteria, deductions, and timelines applicable to refunds arising from booking cancellations or other qualifying circumstances. This policy applies to all bookings—residential or commercial—made under any mode of payment, whether before or after execution of the Agreement for Sale. Refunds shall be considered in cases of cancellation by the Allottee, termination by the Promoter under valid grounds, or non-delivery of possession as per agreed timelines in accordance with RERA norms. All refunds will be issued solely to the original Allottee through NEFT/RTGS or account transfer; no cash or third-party transactions will be permitted. For cancellations before execution of the Agreement for Sale, a deduction of ₹50,000 or 2% of the total unit consideration (whichever is higher) will apply. All other payments, excluding taxes, will be refunded within 60 days of receiving the written cancellation request, accompanied by required documentation such as payment receipts, booking form, and KYC details. In cases where the Agreement for Sale has been executed, the Promoter may deduct up to 10% of the total unit cost as liquidated damages under Section 19(6) of RERA, while stamp duty, registration fees, and taxes remain non-refundable. Any balance amount will be refunded within 90 days, and if the purchase was financed through a bank, the refund will be directed to the respective financial institution. For cancellations under the Allotment Reservation (AR) Scheme, 25% of the booking/reservation amount shall be deducted in accordance with AR Scheme rules. The refund process will be completed within 90 days from the date of a valid written cancellation, and once a reservation number or token is issued, any associated privileges will be forfeited. In the event of a Promoter default, including non-delivery of possession, discontinuation of the project, or breach of AFS obligations, the Allottee shall be entitled to a full refund along with 9% annual interest or as otherwise directed by MahaRERA. Such refunds will be made within 45 days of written demand, failing which additional compensation may be applicable under Section 18 of the RERA Act. If a booking is cancelled by the Promoter due to reasons such as non-payment, false documentation, or breach by the Allottee, up to 10% of the total sale value or the booking amount (whichever is higher) will be forfeited, and the balance refunded within 90 days of notice. Refund requests must be formally submitted and acknowledged by the Promoter’s accounts department. Refunds delayed beyond the prescribed timelines will accrue simple interest at 9% per annum as per Rule 18 of the MahaRERA (General) Rules, 2017. In cases of force majeure, such as natural calamities, legal restrictions, or government-imposed delays, refunds shall be settled mutually, and such events shall not constitute default unless specifically directed by MahaRERA. Allottees dissatisfied with refund outcomes or delays may first approach the Allottee Grievance Redressal Officer at Yes Realty for resolution. If unresolved, the matter may be escalated to the MahaRERA Authority or the MahaRERA Appellate Tribunal under Sections 31 and 43 of the RERA Act. Yes Realty reaffirms its commitment to process all refunds transparently, with complete documentation and within stipulated timelines. The Promoter shall not withhold any payment without lawful cause, and this policy remains fully consistent with the registered Agreement for Sale and applicable RERA regulations. By booking or purchasing a unit in Palm Riveria (GKC Grand Kausa City), the Allottee acknowledges having read and understood this Refund Policy, accepts the applicable deductions and timelines, and understands that government taxes, registration fees, and administrative charges are non-refundable.