How are refunds calculated if a partially completed project is terminated?

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Ali Faizan Syed · Accepted Answer

If a developer terminates an agreement for a project that is between sixty and eighty percent complete, they may retain up to forty percent (40%) of the unit's price. For projects where construction has started but is less than sixty percent complete, the developer can retain a maximum of twenty-five percent (25%) of the price. In both cases, any amounts paid by the purchaser in excess of these percentages must be refunded by the developer within one year of termination or sixty days of resale.

How are refunds calculated if a partially completed project is terminated?

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Ali Faizan Syed