Understanding the refund and cancellation policy is essential before investing in Faisal Town Phase 2. Whether you purchase a file or a plot, knowing the applicable deductions, payment deadlines, and cancellation terms can help you make informed decisions and avoid unnecessary financial losses.
This guide explains the refund process, cancellation rules, and important conditions buyers should know.
Quick Facts
| Feature | Details |
| Project | Faisal Town Phase 2 |
| Developer | Faisal Town Group |
| NOC Status | Under process with RDA |
| Project Area | Approximately 80,000 Kanals |
| Open File Processing Fee | PKR 60,000 (Non-refundable) |
| Service Charge | 20% after four missed installments |
| Three Missed Installments | Escalation charges may apply |
| Refund Timeline | Approximately 30–45 days (subject to approval) |
Project Overview
Faisal Town Phase 2 is a large-scale housing project located near the M-2 Motorway and Thalian Interchange. Spread over approximately 80,000 kanals, the development is planned to include residential, commercial, educational, recreational, and public facilities.
The project’s NOC is currently under process with the Rawalpindi Development Authority (RDA).
Cancellation Policy
The cancellation policy depends on your payment status and whether plot allocation has taken place.
Key points include:
- Open File bookings generally remain valid for six months from the booking date.
- Any outstanding installments or charges must be cleared before a refund is processed.
- Missing three installments may result in escalation charges.
- Missing four consecutive installments may lead to automatic cancellation by the developer.
- In such cases, a 20% service charge may be deducted from the amount paid.
- The Open File processing fee is non-refundable.
Early Cancellation
Buyers requesting cancellation before plot allocation generally receive a higher refund, subject to applicable administrative deductions.
To initiate cancellation:
- Submit a written cancellation request.
- Clear any outstanding dues.
- Complete the verification process.
- The approved refund is processed according to the company’s policy.
Refund Process
The typical refund procedure includes:
- Submit a written cancellation application.
- Clear any pending installments or applicable charges.
- Verification of booking status.
- Calculation of applicable deductions.
- Approval of the refund request.
- Refund issued through the approved payment process.
Processing times may vary but generally take 30 to 45 days after approval.
Refund Structure
| Payment Status | Estimated Refund | Possible Deductions |
| Before three missed installments | Up to 95–100% | Administrative charges |
| After three missed installments | Around 90–95% | Escalation charges |
| After four missed installments | Around 80% | 20% service charge |
| After plot allocation | Lower refund may apply | Development and administrative charges |
| After possession/transfer | Subject to applicable terms | Depends on company policy |
Refund percentages may vary according to the applicable booking terms and conditions.
Important Things to Remember
- Review the booking form carefully before making a payment.
- Keep all payment receipts and documentation.
- Monitor installment due dates to avoid penalties.
- Submit cancellation requests as early as possible if you decide not to continue.
- Confirm the latest refund policy directly with the developer, as terms may change over time.
Frequently Asked Questions
What happens if I miss four installments?
According to the project’s stated policy, missing four installments may result in automatic cancellation, with a 20% service charge deducted from the paid amount.
Is the Open File processing fee refundable?
No. The Open File processing fee is generally non-refundable.
When is the best time to cancel?
Earlier cancellation usually results in lower deductions than cancellation after prolonged payment delays or plot allocation.
What happens after missing three installments?
Escalation charges may apply. Buyers should contact the developer promptly to regularize their account before additional penalties are imposed.
Final Verdict
Faisal Town Phase 2 has a structured refund and cancellation policy that outlines the applicable deductions based on payment status and booking stage. Buyers who understand these terms and keep their installments up to date are less likely to face avoidable deductions.
Before booking or requesting cancellation, always review the latest official terms and conditions issued by the developer, as policies may be revised over time.
