Legal Question in Real Estate Law in India

I booked a property in the joint name of me and my husband last one year back. The value of the property is appromixately Rs. 24, 00, 000.-. We have paid 10% of the total amout by way of cheque and receipts are issued with that regard. The builder has made banakhat after 8 months and it was notarized. we gave documents for sanction of home loan. But in now days due to some circumstances, we don't want to purchase the property. When we told the builder that we would like to cancel the property. he said the amount which we have paid will be given after the property is sold. What should we do? please advice us for cancellation of the same

Asked on 10/18/11, 2:16 am

Sudershan Goel India Law Offices of Sudershan Goel - Advocate

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The cancellation and consequences thereof may depend upon the agreement executed between the parties.

Answered on 10/18/11, 11:19 pm

Shrichand Nahar S.V.Nahar, Advocate

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Check terms of your agreement and act accordingly.

Answered on 10/29/11, 11:18 pm

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