Legal Question in Real Estate Law in India

I have booked a flat with private developer, in PCNTDA Pune; in Sept 2009 @ Rs.2050/ Sq ft of salable area total flat cost Rs.18.04 Lakhs. Since then I have paid Rs.13.50 lakhs to the developer. Now flat is ready. The developer has put his demand for Rs.3.50 Lakhs on Sept-2010 & Rs.1.04 Lakhs in Dec-2010. It may take two more months to arrange the sum. Meanwhile the developer is threatening me to cancel the booking; otherwise he will refund after deducting Rs.50, 000 as penal.
Can I get time of two more months?
If not, then can I sell the flat to third person, who will pay the balance amount, & can I get benefit of increase in property rate @ Rs.2950.00?
Will broker be able to withdraw flat by refunding the amount after deducting Rs.50,000.00 as he threatens?

Asked on 1/19/11, 1:44 am

Shrichand Nahar S.V.Nahar, Advocate

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0 attorneys agreed

You need to carefully study terms of your agreement and then decide.

Answered on 1/21/11, 12:00 am

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