Refund Policy
ODB Realty Pvt. Ltd. (“ODB Realty”, “we”, “our”) adheres to the refund provisions as prescribed under the Real Estate (Regulation and Development) Act, 2016 and governed in West Bengal by the West Bengal Housing Industry Regulatory Authority (WBHIRA). This Refund Policy outlines the terms under which refunds may be considered for payments related to residential or commercial real estate transactions.
1. Scope of ApplicationThis policy covers:Booking amounts for flats, apartments, or commercial units in projects registered under WBHIRACancellation requests made by allotteesRefunds due to delay or default by the promoterProject cancellation by authority or the developer
2. Buyer-Initiated Cancellation (Section 19(6) of RERA)If the allottee voluntarily withdraws from the project:ODB Realty will refund the total amount paid by the allottee after deducting the booking amount, government taxes, and administrative charges as per the Agreement for Sale.Refund will be made within 45 days from the date of receipt of the written cancellation request.⚠️ Note: Booking amount typically ranges from 5–10% of the unit cost, as disclosed in the agreement.
3. Delay or Non-Completion by Promoter (Section 18(1))In case of project delay or failure to deliver possession as per the registered timeline:The allottee is entitled to 100% refund along with interest at the prescribed rate (SBI MCLR + 2%) if they choose to withdraw.Alternatively, the allottee may choose to remain in the project and claim monthly interest for each month of delay until possession is handed over.Refunds shall be made within 45 days from the date of claim.
4. Project CancellationIf a project is cancelled by ODB Realty or by WBHIRA for regulatory reasons:Allottees shall receive a full refund with interest within the statutory time limit, in accordance with RERA provisions.
5. Processing of RefundRefunds will be transferred to the same bank account or financial instrument used for the original transaction.The allottee must submit:Proof of paymentAllotment letter and agreement copyIdentity proof and bank account details for verification
6. Consultancy & Ancillary ServicesPayments made for property-related consultancy, administrative assistance, or documentation services not directly linked to a registered property unit are generally non-refundable, unless cancellation is made at least 48 hours prior to the service being delivered.
7. Contact for Refund Assistance For refund requests or escalation, please contact:
ODB Realty Pvt. Ltd.
Email: refunds@odbrealty.com
Phone: 9800310010
Address: Kranti Road, Sunhas Pally, Oodlabari, Jalpaiguri, West Bengal India-735222
Website: www.odbrealty.com