Refund Policy

Applicability: This Refund Policy applies to residential rental bookings, deposits and monthly charges transacted through our platform for properties located in India.

1) Booking Amount

• Non-refundable booking fee: The booking amount paid to reserve a unit is non-refundable in all circumstances unless the booking is cancelled by KOTS/Owner due to unavailability or verification failure not attributable to the tenant.
• If cancelled by KOTS/Owner: 100% of the booking amount is refunded to the original payment method within the timelines in Section 7.

2) Security Deposit

• Before move-in date (tenant cancellation): Security deposit (if paid) is refunded after deducting any documented costs (e.g., lock-in/holding charges if communicated) and applicable payment gateway fees, within the timelines in Section 7.
• Post move-out: Security deposit is refundable after deductions for unpaid rent/maintenance, damages beyond normal wear & tear, painting/move-out charges (if applicable), key loss, penalty/late fees, utility dues and government levies.
• Inspection & statement: A deduction statement will be shared along with proofs/photos/bills where applicable.

3) Prepaid Rent & Charges

• Pre-move-in cancellation by tenant: Prepaid base rent is refundable on a 100% basis. Prepaid maintenance/CAM and fixed service charges are fully refundable if services haven’t commenced.
• After contract start: No refunds for used periods. For un-used future periods, refunds are on a pro-rata basis only if tenant has given valid notice in line with the lock-in and notice period clauses in the agreement.

4) Utilities & Add-ons

• Utilities (electricity, power backup, water & sanitary): Billed as per the defined method in your agreement (e.g., meter/ratios). On move-out, a final settlement is done for the last billing cycle; excess prepaid amounts are refunded; shortfalls are recovered.
• Internet/Third-party services: Complimentary internet is not a paid service and is non-refundable. Third-party add-ons (housekeeping, water cans, vehicle wash, etc.) are governed by the respective provider’s policy.

5) GST, Fees & Payment Gateway Charges

• Convenience/payment gateway charges are non-refundable once a transaction is executed.
• GST collected on non-refundable fees remains non-refundable. For refundable components (e.g., rent/maintenance where applicable), GST is handled per tax law and the nature of credit/debit notes.

6) Cancellations & Lock-in/Notice

• Lock-in: If you vacate before the lock-in ends, you may forfeit part/all of prepaid amounts as per the agreement and/or be liable for rent up to the lock-in period.
• Notice period: Refunds (if any) are contingent on serving the full notice period (e.g., 45 days) as per your agreement.
• Owner/KOTS cancellation: If we cancel due to reasons not attributable to tenant (e.g., unit withdrawn), all tenant-paid amounts for future periods are refunded.
• Force Majeure: Delays/adjustments may occur for events beyond reasonable control (e.g., government orders, natural calamities). We’ll make good-faith efforts to settle fairly post-disruption.

7) Refund Method & Timelines

• Method: Refunds are processed to the original payment instrument. If not feasible, an NEFT/IMPS transfer is made to a verified Indian bank account (PAN, account proof may be required).
• Timelines: We initiate eligible refunds within 7–10 business days from approval/inspection completion. Bank processing times may add 3–7 business days.
• KYC & documentation: We may request PAN, address proof, canceled cheque, and signed refund acknowledgment before processing.

8) Non-Refundable Scenarios (Illustrative)

• Booking amount (except where KOTS/Owner cancels).
• Convenience/payment gateway charges.
• Charges/penalties arising from breach of agreement, early termination within lock-in, or non-compliance with notice period.
• Costs for damages beyond normal wear & tear, deep cleaning, painting if applicable, key/FOB loss.

9) Disputes & Escalation

• First contact: Email hello@kots.world with your booking code, flat/unit details, and refund bank proof (if applicable).
• Escalation: If unresolved within 10 business days, raise a written escalation with all evidence (photos, invoices, meter readings, possession/hand-over forms).
• Governing law: Subject to applicable Indian laws including the Consumer Protection Act, 2019. Venue/jurisdiction as per your rental agreement.

10) Updates to this Policy

We may update this policy from time to time. The latest version will be published on this page with the “Last Updated” date.

Last Updated: 21 Aug 2025
This policy is intended to reflect standard rental operations in India. Specific building or city rules in your agreement prevail where stricter or more specific.