Legal Question in Real Estate Law in India

I had taken a token money of Rs.51000/- againt Rs.16.5lacs for sale of my flat and it was agreed that the full payment of the flat would be done within 45days. Based on his commitments i too booked a flat and gave a token money of Rs.10000/- and commited 45days for final settlement. Now the buyer of my flat was not able to pay the balance by 45days hence i decided to sell my flat to someone else. Later after 60days the earlier buyer tells me that his loan has been sanctioned.
Also since my earlier buyer did paid the balance money to me i too failed to pay for my new flat and that deal was cancelled. My token of Rs.10000/- was not returned as i had failed to meet the commitments. Hence i too deducted Rs.10000/- from earlier buyer's token money. Now he is insisting to refund the full toek money of Rs.51000/-.
Have i done correct or wrong? Since i had a loss of Rs.10000/- i too deducted to that amount from my earlier buyer.

Asked on 3/14/11, 10:26 pm

RAJIV GUPTA (Cell: +91 9811284735) [email protected]

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this was a right decision.

Answered on 3/14/11, 10:42 pm

Sanjay Kalra Sanjay Kalra & Associates

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Have you given anything in writing to the buyer while accepting 51,000 from him as token money?

Answered on 3/15/11, 12:45 am

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