1. Overview
At 313 Properties Ltd, we strive to maintain transparency and fairness in all our real estate development and hotel unit allotment processes. This policy outlines the terms and conditions for cancellation of bookings, refund requests, and allotment modifications for Golden Resort Kuakata.
2. Cancellation of Booking / Allotment
An investor may request the cancellation of their hotel suite share, commercial space, or fractional ownership allotment under the following terms:
- All cancellation requests must be submitted in writing to the Head of Investor Relations via registered email or physical letter.
- The cancellation request must include the official booking money receipt, allotment letter copy, and national identity documents of the primary investor.
3. Refund Timelines & Deductions
Since real estate development involves immediate capital allocation for land acquisition, structural design, and construction, refunds are processed based on the following schedule:
- Booking Money Refund: Booking money is non-refundable after a grace period of 15 days from the initial booking date.
- Installment Refund: In the event of a approved cancellation, payments made towards installments will be refunded after the development company successfully resells the respective share/allotment to a new investor.
- Processing Period: Once the resale is successfully executed, the refund amount will be disbursed within 90 to 120 days.
- Service Charges / Deductions: A service and administrative charge of 10% of the total paid amount will be deducted prior to issuing the refund.
Note on Shariah Principles: In accordance with Islamic business ethics, no interest, penalty fees, or usurious charges will be added to the refunded capital. The deduction represents actual administrative and marketing costs incurred during resale.
4. Delay in Project Development
If 313 Properties Ltd fails to deliver the property or hand over possession of the allotted resort share within the agreed timeframe (plus the standard grace period specified in the deed), the investor has the right to claim a refund of their principal paid amount without any service charge deductions.
5. Contact for Refund Processing
For any queries related to cancellations, transfers of ownership, or refund status, please get in touch with our Compliance Team at 313PropertiesLtd@gmail.com or visit our Corporate Head Office in Dhaka.