For Website Use – World Map Commercial Builders Private Limited
Effective Date: 1st April 2026
Welcome to the official website of World Map Commercial Builders Private Limited.
This Refund Policy is drafted in accordance with applicable provisions of the Real Estate Regulatory Authority (RERA), the Real Estate (Regulation and Development) Act, 2016, Consumer Protection laws, and other applicable Government regulations of India.
This policy governs all booking amounts, application fees, advances, deposits, and payments made by customers/allottees/investors in relation to projects marketed, developed, co-developed, managed, or facilitated by the Company.
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1. Definitions
For the purpose of this Refund Policy:
Company / Developer refers to World Map Commercial Builders Private Limited.
Joint Developer means the Company may act jointly with landowners, development authorities, project owners, or partner entities for development and execution of projects.
Allottee / Buyer / Customer means any person/entity who books or purchases any unit/property/project from the Company.
Project means any residential, commercial, plotted, mixed-use, or real estate development project.
RERA means the Real Estate (Regulation and Development) Act, 2016 and respective State RERA Authority.
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2. Applicability
This Refund Policy shall apply to:
Booking of flats, shops, offices, plots, villas, or commercial units
Token amounts
Expression of Interest (EOI)
Reservation amounts
Advance payments
Installments paid by buyers
Any amount received against project allotment
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3. General Refund Principles
The Company follows transparent and fair refund practices subject to:
Terms of Booking/Application Form
Builder Buyer Agreement (BBA)
Allotment Letter
RERA provisions
Applicable Government regulations
Financial obligations and deductions legally permissible
Refunds shall be processed only after verification of payment records, applicant identity, contractual obligations, and compliance requirements.
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4. Refund Eligibility
A customer may become eligible for refund under the following situations:
4.1 Project Delay by Developer
If possession of the property is delayed beyond the committed timeline as defined under RERA and applicable agreements, the allottee may:
Continue in the project and seek delay compensation; OR
Withdraw from the project and seek refund as per RERA provisions.
In such cases, refund shall be processed along with applicable interest as prescribed under RERA.
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4.2 Cancellation by Customer Before Agreement Execution
If the customer cancels booking before execution/registration of the Builder Buyer Agreement:
Refund eligibility shall depend upon project stage, inventory blockage, administrative costs, and booking terms.
The Company reserves the right to deduct:
Processing charges
Administrative expenses
Applicable taxes
Government charges
Documentation costs
Balance amount, if eligible, shall be refunded within applicable timelines.
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4.3 Cancellation After Agreement Execution
If cancellation is initiated after execution of Builder Buyer Agreement or allotment confirmation:
Refund shall be governed strictly by the terms mentioned in the Agreement.
Deductions may include:
Earnest money
Taxes paid/payable
Brokerage/marketing expenses
Legal/documentation charges
Government duties
Interest liabilities
Other applicable contractual deductions
The Company reserves the right to resell/re-allot the unit before processing refund wherever legally permissible.
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4.4 Non-Availability of Unit
If due to technical, legal, regulatory, governmental, or force majeure reasons the allotted unit cannot be delivered, the Company may:
Offer an alternate unit/project; OR
Refund the amount received from the allottee as per applicable laws.
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4.5 Rejection Due to Compliance Issues
Refund requests may arise where:
KYC documents are incomplete
Buyer verification fails
Regulatory compliance is not fulfilled
Payment source verification is unsatisfactory
Anti-money laundering norms are triggered
In such cases, refund may be processed after compliance review and applicable deductions.
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5. Non-Refundable Amounts
The following amounts may be non-refundable subject to applicable agreements and law:
Application processing fees
Legal/documentation charges
Government taxes and duties already deposited
GST and statutory levies
Brokerage or channel partner payouts already disbursed
Customized modification charges
Administrative expenses
Penalty charges due to buyer default
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6. Refund Timeline
Standard refund requests shall generally be processed within 45 to 90 working days from approval of refund request and submission of complete documentation.
Timelines may vary depending upon:
Banking procedures
Government approvals
Financial reconciliation
Legal verification
Third-party approvals
RERA directions
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7. Mode of Refund
Refunds shall be made only through:
Bank transfer
Account payee cheque
RTGS/NEFT/IMPS
Refunds shall only be processed in favor of the original applicant(s)/payer(s) after verification.
Cash refunds shall not be entertained.
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8. Interest on Refunds
Interest, wherever applicable under RERA or competent authority directions, shall be calculated as per the prevailing rate prescribed by the respective State RERA Authority.
The Company shall not be liable to pay interest where delay/refund arises due to:
Buyer default
Incomplete documentation
Force majeure events
Government restrictions
Court orders
Banking restrictions
Regulatory actions beyond Company control
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9. Force Majeure
The Company shall not be held responsible for delay in refund or possession due to events beyond reasonable control including but not limited to:
Natural calamities
Floods, earthquakes, pandemics
Government restrictions
War or civil disturbance
Court stay orders
Changes in law/policy
Labor strikes
Material shortages
Regulatory authority actions
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10. Joint Developer Clause
The Company may act as a Joint Developer, Co-Developer, Development Partner, Marketing Partner, or Landowner Representative in certain projects.
In such projects:
Refund liability may be shared between project stakeholders as per contractual arrangements.
The Company’s liability shall remain limited to its defined role, scope, and financial participation in the respective project.
Refund processing may be subject to approvals, settlements, and reconciliations between landowners, co-developers, financial institutions, or project partners.
Buyers are advised to review project-specific agreements for detailed obligations and liabilities.
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11. Fraud Prevention & Verification
The Company reserves the right to:
Verify all refund requests
Reject fraudulent or suspicious claims
Seek additional documentation
Hold refunds in case of legal disputes or investigations
Any attempt of fraud, misrepresentation, or illegal financial activity may result in legal action.
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12. Dispute Resolution
All disputes related to refunds shall be subject to:
Applicable provisions of RERA
Consumer Protection laws
Arbitration clauses (if applicable)
Jurisdiction of competent courts/authorities
The jurisdiction shall be subject to the courts and authorities of [Insert City/State], India.
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13. Policy Modification Rights
The Company reserves the right to modify, amend, update, or replace this Refund Policy at any time without prior notice, subject to applicable laws and regulations.
The updated version shall be effective immediately upon publication on the website.
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14. Contact Details
For refund-related queries, customers may contact:
World Map Commercial Builders Private Limited
Email: contact@wmbuilders.com
Phone: 8795789789
Website: www.wmbuilders.in
Registered Office: 127/T/25, Vinobha Nagar, Kidwai Nagar, Kanpur, UP – 208014
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Disclaimer
This Refund Policy is for general informational and compliance purposes only and shall be read along with the applicable Booking Form, Allotment Letter, Builder Buyer Agreement, RERA provisions, and other legal documentation executed between the parties. In case of conflict, the executed agreement and applicable law shall prevail.
