It is necessary to peruse agreement signed by you  to advice 

2) you will have to pay EMI after scheduled date as per tripartite agreement 

3) you can draw attention of builder to fact that as per your registered agreement builder has to pay EMI till possession 

4) cancellation charges have to be paid by you at 10 per cent of booking amount 

5) builder cannot refuse to cancel your booking 

6) under RERA builder can deduct 10 per cent of booking amount as cancellation charges 

7) you are liable to pay EMI on loan disbursed 

you can get ur money back. Firstly applied for cancellation by mail or speed post second legal remedy file ur case in Consumer Court,, Civil Court for recovery of ur amount without cancellation with interst they will give ur money back.

Sub vention schemes are closed by govt. What is the date of possession, Delay possession can raise only after passage of delivery date. OR possession not at all viable, apparent to construction speed.

And you can give up deal as scheme was offered by builder which cannot be continue for whatever reason, you can demand refund with interest. 

If builder deny approach RERA.

You have the right to cancel allotment anytime subject to forfeiture of booking amount if builder at no fault. So withdraw due to fault of buyer.

Builder property is mortgage, let him bear the pain. 

1. On account of the stoppage of work on the site since last 7 to 8 months , there is no way the Builder can hand over the Possesion on time . In such a situation , will the EMI's come into play after the scheduled Date of Possesion or after the date mentioned in the Tri Party agreement .?


the possession date stated in the registered agreement will prevail. Even otherwise prior to registration of agreement, the builder must have lured to book a flat in his project on the promise that till the possession is handed, he will bear the EMIs of the bank. It was only relying on such representation of the builder, that the buyer agreed to book a flat and also must have paid booking amount out of his pocket. So in my opinion the builder cannot take refuse under the tri party agreement and must be bound by his promise in the registered agreement with the buyer

2 If i want to move out of the Project , what are the Financial Loss that i will have to incur ?

check for a clause in your registered agreement as to what cancellation charges the buyer would have to pay if he desires to withdraw from the project prior to possession date. The consequences mentioned in that clause will be the financial implication of such a decision

3 Can the builder refuse to oblige to my request of cancellation & if Yes , what is the Provision Under Maha Rera , to ensure that i am allowed to cancel the Property ?

technically the builder can refuse since the possession date has not yet arrived

4 Is there any specific time period within which i can cancel post the Registration of the property ?

nothing as such. But more the delay by you by applying for cancellation, less are your chances of cancellation. The builder will say that it is not correct on the buyer's part to withdraw and cancel his booking at an advanced stage when the project is about to get completed. He will say that had the buyer cancelled earlier, he would have got another buyer. Also refunding the money to the buyer at an advanced stage would adversely affect the completion of the project as the money paid by buyers is used for the construction. These are the general stands which builders take and which even RERA agree on. 

5 What happens to the Liability of the Home Loan Funding that has already been disbursed after my cancellation . Do i Need to pay the EMI's Or the Builder will pay the same on my behalf the Bank .

the builder will be liable to refund your booking amount as well as the amount he received from the lender with interest

Please Suggest as , i am very much troubled with all that has happened & looking for a way out . Every Penny Invested in the House is hard earned and we right now feel being stuck between the Devil ( Builder ) & the Deep Sea ( IBHFL)

Sir this is for your information that subvention scheme is only a financial arrangement between new builder and the finance company where the finance company advances the money to the Builder on your behalf and builder agrees to pay the EMI on your we have for certain period this is complete even if the Builder has got 35% of the amount from the finance company this become your responsibility to pay by the amount in case you cancel the apartment and you are not getting the refund from the builder then you have to pay the amount to the finance company from your own pocket before cancelling the apartment please assess all the pros and cons to the deal so that we should not get into any financial issue so far as you have to discuss both the parties before you go for cancellation so that the financial arrangement can be made in a proper way

1.As per agreement as builder is not able to give possession on time. 

2. It will be as per the agreement if any penal clause is mentioned. 

3. You can go to maha rera for cancellation for delay in project

4.. No. 

5. You don't have liability builder will payor as decided by rera

Yes EMIs will start after the scheduled date of possession.

If you want to move out of project without any loss you should wait for scheduled date of possession after that you send notice of refund of money on ground of delay of possession.

No builder cannot stop you from cancellation of flat. 

After registration of property you can cancel the booking only on ground of delay in project.

You have to pay the EMis 

1.  The payment of EMI loan repayment will be based on the agreement conditions and may not have effect on the builder's fault of stopping the construction, the builder shall explain the reason for default in repayment when the situation arises accepting the liability.

2. The financial losses in this regard may be you ,may have to lose your initial amount already paid for booking.

3.  The builder cannot refuse to accept your request for cancellation of booking, you may go through the sale agreement conditions in this regard for taking further legal actions in case the builder is doing so.

4. If the property has been registered on your name then it may be difficult for you to cancel the booking, because you have become the owner of the property already, if at all it was just a sale agreement then you may have an opportunity to cancel the same  

5. Since the amount was paid directly to the builder , it will be his liability after cancellation of the booking.

1. On account of the stoppage of work on the site since last 7 to 8 months , there is no way the Builder can hand over the Possesion on time . In such a situation , will the EMI's come into play after the scheduled Date of Possesion or after the date mentioned in the Tri Party agreement .?


Answer: Is there an extension clause for the builder? Then he may extend the date of handover of the project which will reflect of rera website;


2 If i want to move out of the Project , what are the Financial Loss that i will have to incur ?

Answer: This will solely depend on the terms and conditions of allotment letter and the agreement to sell;


3 Can the builder refuse to oblige to my request of cancellation & if Yes , what is the Provision Under Maha Rera , to ensure that i am allowed to cancel the Property ?

Answer: MAHARERA says that the builder can forfeit 10% of the total amount; 


4 Is there any specific time period within which i can cancel post the Registration of the property ?
Answer: This will again depend on the terms and conditions you have agreed to;

5 What happens to the Liability of the Home Loan Funding that has already been disbursed after my cancellation . Do i Need to pay the EMI's Or the Builder will pay the same on my behalf the Bank .

Answer:Rest of the amount will be refunded. Bu t 10% will be forfeited or whatever you and the builder have agreed to.