Refer to the agreement to find out the clause in case the builder defaults in paying the EMI on your behalf as per the sub vention scheme which is proved to be scam hit in most of the times.

For the breach of the terms of the agreement you entered into with the builder, you have the option of filing a case before the consumer forum.

Subvention schemes are a fraud. File a case against the builder in the rera tribunal immediately.

You can take an injunction against the bank to not evict you

Surrender the property as builder has failed to pay EMI on loan as agreed 

in alternative you have to pay EMI on loan 

Litigation is a long drawn proposition, avoid it. 

Better surrender the property as Builder failed to pay EMI on loan.

In case if you are interested in the property, you can pay the balance EMI and complete the transaction.

You can issue notice to Builder marking copy to RERA about your above intention and claim damages. 

You can seek direction from RERA to take action against the Builder for not complying his part of obligation. 

The ultimate responsibility of payment of EMI is of the buyer in case builder makes default in payment of the EMI bank will definitely asked the debtor to pay the emi.

in case you are getting it difficult to pay the EMI you can surrender the apartment and ask for the refund of the entire amount for any dispute you can refer your complaint to you really state regulatory authority to get the direction

1. Your best option is to file a grievance petition before the local Consumer Court, for builders & bankers negligence & deficiency and for causing you harassment & intimidation. You can also claim damages & compensation for the mental trauma being caused to you.

2. IF you surrender the property, THEN you would loose a huge amount and the interest /penalty too.

The bank has given you all the options. hence better you may first issue a legal notice to the builder about default in paying the EMI to bank under subvention scheme, then you may decide either to cancel the booking or any other relief that may be available at that particular time.

1. You should pay the EMI to bank which are unpaid by builder because subvention scheme are banned by Govt. 

2. You can file case against builder before RERA or consumer forum for non payment of loan as promised and claim refund of payments made by you. 

You can file complaint with RERA. Alternatively you may approach Consumer Commission

Sub vention scheme is banned by govt. File FIR against builder of cheating and criminal breach of trust.