Refund Policy

Last updated: 1 April 2025. This Refund Policy applies to all payments made on the LandEMI Platform including Booking Amounts, EMI instalments, and associated charges. It is to be read alongside our Terms of Service and the Real Estate (Regulation and Development) Act, 2016 (RERA).

1. General Principles

1. LandEMI follows a transparent, buyer-first refund approach in line with RERA, 2016 and the Consumer Protection Act, 2019.
2. All refunds are processed to the original payment source (bank account, UPI, card). No cash refunds are made.
3. Refund timelines stated in this Policy are measured from the date LandEMI's refund team approves the claim, not from the date of your request.
4. You will receive a Refund Reference Number by email within 48 hours of a refund being initiated. Use this reference for follow-up queries.
5. GST paid on platform fees is non-refundable once a tax invoice has been issued, as LandEMI has already remitted it to the government.
6. Stamp duty, registration charges, and government fees paid directly to government offices are outside LandEMI's control and are not refundable by LandEMI.
7. Payment gateway charges (typically 1.5%–2.5%) are non-refundable as they are levied by the payment processor and not retained by LandEMI.

2. Booking Amount — Refund Eligibility

8. The Booking Amount is generally non-refundable once the Allotment Letter is issued, except in the circumstances listed below.
9. Full refund of Booking Amount: If LandEMI fails to issue the Allotment Letter within 7 business days of receiving the Booking Amount and completing KYC — you are entitled to a full refund with no deductions.
10. Full refund of Booking Amount: If the plot is found to be unavailable, double-booked, or fails title verification after your booking, you receive a 100% refund of the Booking Amount.
11. Full refund of Booking Amount: If LandEMI cancels the project, withdraws the plot from sale, or cannot obtain the required government approvals, the Booking Amount is refunded in full with simple interest at 10.75% per annum from the date of booking.
12. Partial refund — buyer cancellation within 15 days of Allotment Letter: 75% of the Booking Amount will be refunded. LandEMI retains 25% as a processing and reservation fee.
13. Partial refund — buyer cancellation between 16 and 60 days of Allotment Letter: 50% of the Booking Amount is refunded.
14. No refund — buyer cancellation after 60 days of Allotment Letter: The Booking Amount is fully forfeited.
15. In states where RERA prescribes a different cancellation refund schedule, the RERA provision shall prevail to the extent it grants greater rights to the buyer.

3. EMI Refunds — Overpayment & Errors

16. If you pay an EMI amount greater than the amount due (overpayment), the excess will be automatically adjusted against the next EMI.
17. If you prefer a cash refund of the overpayment rather than adjustment, submit a written request to accounts@landemi.in within 7 days of the overpayment. Refund will be processed within 5 business days.
18. Duplicate payments (two transactions for the same EMI due to a gateway glitch) are detected automatically. The duplicate amount is credited back to your payment source within 5 business days without any request from you.
19. If a payment is deducted from your bank/wallet but the Platform does not reflect receipt, raise a ticket within 48 hours. We will reconcile with the payment gateway and either credit the account or initiate a refund within 3 business days.
20. Refunds for EMI errors are processed without late-fee charges, even if the EMI due date passes during the resolution period.

4. Cancellation by Buyer After Allotment

21. To initiate cancellation, submit a written request to cancellation@landemi.in from your registered email with your Allotment Letter number and reason for cancellation.
22. Cancellation is not processed until all outstanding dues (late fees, pending EMIs) are cleared.
23. Upon valid cancellation, LandEMI will calculate the Net Refundable Amount = (Total principal paid) − (Booking Amount forfeiture as per Section 2) − (applicable processing fee).
24. The processing fee for mid-tenure cancellations is 3% of total principal paid, capped at ₹25,000.
25. No interest is paid on principal EMIs refunded to the buyer, as the amounts were applied toward the plot's purchase price during the holding period.
26. If the buyer cancels and the plot is resold by LandEMI at a higher price, the buyer is not entitled to any upside from the resale.
27. If the plot is resold at a lower price due to market conditions, the buyer's refund is not reduced below the Net Refundable Amount calculated at cancellation.
28. Refunds for buyer-initiated cancellation will be disbursed within 45 working days of receiving the signed cancellation deed from the buyer.

5. Cancellation by LandEMI (Default)

29. LandEMI may cancel an allotment if the buyer defaults (misses 3 consecutive EMIs) and does not cure the default within the 30-day notice period.
30. On default cancellation, LandEMI will refund 80% of principal EMIs paid (excluding interest, GST, admin, and PG components).
31. The retained 20% covers plot holding costs, re-listing expenses, and loss of income to LandEMI during the default period.
32. The default-cancellation refund will be paid within 90 working days of the cancellation notice becoming effective.
33. A buyer whose allotment was cancelled for default may re-book the same or another plot after clearing all dues and a 12-month cooling-off period.

6. Force Majeure & Regulatory Delays

34. If LandEMI is unable to deliver the plot or execute the Sale Deed due to force majeure events (natural disasters, war, pandemic, government-imposed moratorium), timelines are extended proportionally.
35. If a force majeure delay exceeds 12 months from the originally scheduled delivery date, the buyer has the right to either: (a) continue and await delivery; or (b) cancel and receive a full refund of all principal EMIs paid with simple interest at SBI MCLR + 1% per annum.
36. Delays caused by the buyer's own failure to submit documents, clear dues, or attend registration do not qualify for refund claims.

7. Failed/Reversed Payments

37. If a payment is debited from your account but reversed by the payment gateway before settlement, the reversal appears in your bank account within 5–7 business days as per RBI guidelines.
38. LandEMI will not credit an EMI as paid on the basis of a reversed payment. You must complete a fresh payment.
39. Gateway-initiated reversals within the grace period will not attract late fees, provided a successful replacement payment is made within 3 business days of LandEMI notifying you of the reversal.

8. Refund for Add-On Upgrades

40. Add-on upgrade costs (construction packages, amenity connections, boundary wall, etc.) are non-refundable once work has commenced or materials have been procured.
41. If an add-on is cancelled before commencement, a full refund of the add-on cost will be processed within 10 business days.
42. If the main plot allotment is cancelled, any unstarted add-ons are fully refunded; started add-ons are refunded at the value of work not yet completed as assessed by our site engineer.

9. Referral Bonus Credits

43. Referral bonus credits applied to your account are non-refundable in cash; they remain as credits and can only be applied against your EMI payments.
44. If your account is closed, unused referral credits are forfeited — they cannot be transferred to another account or redeemed for cash.

10. Refund Request Process

45. Raise a refund request via: (a) in-app Support → "Refund Request"; (b) email to refunds@landemi.in; or (c) written letter to our registered office.
46. Include in your request: Full name, registered phone, Allotment Letter number, amount paid, payment date, transaction ID, and reason for refund.
47. Our refund team will acknowledge your request within 48 hours and revert with an eligibility decision within 7 business days.
48. Once approved, refunds are processed to the original payment method within: UPI/wallet: 2 business days; Debit/credit card: 5–7 business days; Bank transfer (NEFT/IMPS): 3 business days.
49. If your original payment card has been cancelled, we will process the refund via NEFT to your registered bank account after receiving a bank statement or cancelled cheque.
50. Refund processing times may increase by up to 5 additional days during festival periods and banking holidays.

11. Disputes & Escalation

51. If you disagree with a refund decision, escalate within 15 days to our Grievance Officer at grievance@landemi.in.
52. The Grievance Officer will provide a final written decision within 30 days of receiving your escalation.
53. If still unsatisfied, you may approach: (a) the applicable State RERA Authority; (b) the District Consumer Forum under Consumer Protection Act, 2019; or (c) Lok Adalat for amounts below ₹20 lakhs.
54. Filing a dispute with RERA or a Consumer Forum does not suspend your obligation to continue paying EMIs for the disputed plot.
55. LandEMI will not initiate default proceedings during the pendency of a refund dispute that has been formally acknowledged.

12. Tax Implications of Refunds

56. If TDS was deducted by you on the original payment and a refund is processed, you will need to claim the TDS credit via your Income Tax Return — LandEMI cannot directly reverse TDS already deposited with the government.
57. LandEMI will issue a refund certificate specifying the breakdown of the refunded amount (principal, fees, interest if any) to assist your tax filing.
58. Interest credited on delayed refunds (as per RERA) may be taxable in your hands as "income from other sources." Consult your tax advisor.

13. Amendments to This Policy

59. LandEMI reserves the right to amend this Refund Policy at any time. Amendments will be notified via email and the Platform at least 15 days before taking effect.
60. The Refund Policy in force at the time of your booking governs your booking — subsequent changes do not retrospectively affect existing allotments unless they are more favourable to you.
61. In the event of conflict between this Policy and your Allotment Letter, the terms of the Allotment Letter shall prevail.
62. In the event of conflict between this Policy and RERA regulations, the RERA provisions shall prevail to the extent they grant greater rights to the buyer.

14. Contact for Refund Queries

63. Email: refunds@landemi.in (response within 48 hours)
64. Phone: +91-40-XXXX-XXXX (Mon–Sat, 9 AM–6 PM IST)
65. In-app: Support → New Ticket → Category: Refund Request
66. Post: Refunds Team, LandEMI Real Estate Pvt. Ltd., 4th Floor, Tech Tower, HITEC City, Hyderabad – 500081.
67. Please have your Allotment Letter number and transaction ID ready when contacting us to ensure faster resolution.

15. Summary Table

16. Special Situations

68. If a co-applicant withdraws from a joint booking, the remaining applicant may continue the booking solo after submitting a revised application and completing fresh KYC if required.
69. If the primary applicant passes away during the EMI tenure, the legal heir(s) may continue the booking by submitting succession documents (legal heir certificate, probate, or registered will). No pre-closure fee applies in such cases.
70. If the primary applicant is declared insolvent or bankrupt by a competent court, LandEMI reserves the right to cancel the allotment and refund the net refundable amount to the insolvency estate.
71. Refund requests from NRI buyers will be processed in Indian Rupees to the original NRE/NRO bank account. Foreign currency conversion is the buyer's responsibility.
72. If the original payment source account has been closed or is no longer active, the buyer must provide an alternate verified bank account. Additional verification may delay the refund by up to 10 working days.
73. Partial-refund scenarios (e.g., mid-tenure cancellation) will be accompanied by a detailed Refund Computation Sheet showing every deduction with the applicable clause cited.
74. Buyers who dispute the Refund Computation Sheet must provide written objections within 10 business days of receiving it, failing which the computed amount is considered accepted.

17. Advance EMI Payments & Pre-Payments

75. You may pay future EMIs in advance at any time without penalty. Advance EMIs are recorded and applied in chronological order against upcoming due dates.
76. Advance EMI payments are non-refundable once applied to the account but are fully credited against the outstanding principal.
77. If you pay an advance EMI and subsequently cancel the booking, the advance amounts are treated as regular principal payments for the purpose of refund calculation.
78. Bulk pre-payment of 12 or more future EMIs in a single transaction attracts a 1% discount on the base EMI component of those instalments.

18. Refund on Plan Switching

79. Buyers may switch to a different EMI plan (e.g., from 120-month to 240-month tenure) once per booking, subject to LandEMI's approval and a plan-switch fee of ₹2,500.
80. On plan switching, no refund is due. The new plan's interest rate applies to the outstanding principal from the switch date.
81. If the new plan has a lower EMI than the current plan, the difference is not refunded — it is applied as advance credit toward future EMIs.

19. Statutory Interest on Delayed Refunds

82. Under Section 18 of RERA, if LandEMI fails to pay a refund within the timelines specified in this Policy, the buyer is entitled to interest at the prescribed rate (MCLR + 1%) per annum on the outstanding refund amount for every month of delay.
83. LandEMI shall not deduct any processing fee or tax from the RERA-mandated delayed-refund interest — it is paid in full to the buyer.
84. Statutory interest claims must be raised in writing within 6 months of the refund date or within the applicable limitation period under RERA, whichever is later.
85. Interest on delayed refunds is taxable as "income from other sources" in the buyer's hands as per Section 56(2) of the Income Tax Act, 1961.

20. Refund Fraud Prevention

86. To protect against refund fraud, all refunds above ₹1,00,000 require a one-time password (OTP) to be verified on your registered mobile number before processing.
87. Refunds requested from a new or unverified bank account undergo an additional 3-day cooling period before processing.
88. Any attempt to fraudulently obtain a refund through false misrepresentation or document forgery will result in immediate account suspension, forfeiture of all amounts, and a report to law enforcement.
89. LandEMI's refund team may contact you on your registered phone number to verbally confirm a refund request above ₹5,00,000 before processing.

21. Post-Sale Deed Refund

90. Once the Sale Deed is registered in the buyer's name, no refund of any amount is possible through LandEMI — the transaction is complete and title has transferred.
91. Post-registration disputes regarding property boundaries, title defects, or structural defects (if applicable) must be resolved through the RERA adjudication process or civil courts and are governed by applicable property law, not this Refund Policy.

22. Miscellaneous

92. Refunds are processed only on working days (Monday to Saturday, excluding public holidays listed on the Reserve Bank of India calendar).
93. LandEMI's refund records are maintained in its tamper-proof ledger system. In any dispute over whether a refund was processed, the ledger entry shall be the authoritative reference.
94. This Refund Policy is subject to applicable Indian law including RERA 2016, Consumer Protection Act 2019, Contract Act 1872, and RBI payment settlement guidelines.
95. Where this Refund Policy is silent on a particular scenario, the most analogous provision in this Policy shall be applied, interpreted in favour of the buyer where there is genuine ambiguity.
96. Waiver of any right under this Policy in a particular instance does not constitute a general waiver of that right.
97. Buyers who have availed a loan from a bank or NBFC against the plot allotment must ensure their lender is informed of any cancellation or refund, as the refund may need to be paid directly to the lender per the loan agreement.
98. LandEMI shall not be responsible for delays in the buyer receiving refunds caused by banking system failures, NPCI outages, or other infrastructure issues beyond LandEMI's control.
99. A list of all pending refund requests and their status can be viewed in the "My Refunds" section of your Platform account.
100. This Policy is effective from 1 April 2025 and supersedes all previous refund policies published by LandEMI.