As a buyer I cannot go for registration due to reduction in the cost of property. What should I do for the cancellation of the Sale agreement?
The reduction in cost price is not the problem of the vendor.
He cannot agree to the changes in the cost of the property.
He can stick to the conditions of the sale agreement and your demand would be unjustified and unlawful.
You may cancel the agreement by abiding to the agreed conditions only and not as per your own will and wish.
7. The seller is not agreeing for the cancellation of the Sale agreement.
On expiration of the date mentioned in the agreement, it automatically stands cancelled and the vendor has to refund the booking amount after deductions.
8. What are the reasons to be given for cancellation of the agreement?
You may state the reasons you may rely upon but they should be a legally valid reason.
9. I am ready to cancel the agreement by giving Rs. 25,000 to seller.
That depends on the negotiation with the seller.