Legal Question in Real Estate Law in India

I was do a selling home agreement in 100/- stamp but today I don't agreed to sell home. agreement last date is effective 02-05-2014. it will valid next 3months . I am also accept. 20000/- in sell agreement time . what the term and law if I cancel. also buyer is not agree for cancel. he told if I cancel than return 40000/- that's not mentioned agreement but that's his demand for cancellation . what I do? please help me.

ashutosh

indore


Asked on 2/20/14, 10:00 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

21.02.2014

Dear Ashutosh,

If you have changed your mind to sell your home, you should return the Rs. 20,000/- back to prospective buyer along with simple interest @ 8% for the period you held the money or any other reasonable compensation that the prospective buyer may insist from you to pay him.

Regards,

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Answered on 2/21/14, 2:00 am


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