Hi, if you want to cancel the agreement on the ground of delay ,then it can only be done once the date of possession or completion date becomes due ...If you still cancel the agreement then the booking amount shall be forfeited and the remaining amount has to be returned by the developer 

1 . Since the sale agreement is registered one will have to see the terms and conditions mentioned therein on date of delivery, cancellation terms, refund etc.

2. In general inordinate delay in construction is a ground for cancellation of agreement. 

3. In such cases depending upon the situation, act of parties, terms of agreement the money is refunded with or without deductions. 

4. To do so send a cancellation notice and by way of another registered agreement the sale agreement is to be cancelled.  By no means the full amount is to be forfeited. 

Dear Sir,

You are suggested to serve a notice to the builder for delay and hence withdrawal from project and thus return of amount with interest etc.  

You can cancel it if it's delayed without any cancellation fee. You can seek refund from builder along with compensation

Deed of cancellation has to be executed with mutual consent 

2) inform builder that you want to cancel booking 

3) seek refund of money after deducting cancellation charges 

Builder would insist on deed of cancellation as earlier agreement was registered 

What is the date of delivery of possession in the agreement. If process is too slow and delivery date is near or passed than send notice for cancellation of allotment and demand refund with interest.

If not paid, complain to RERA. And you your information, the deadline for the completion of real estate projects extended by up to six months in the face of the COVID-19 and that it should be treated as a 'Force Majeure' event under RERA.

So date of delivery of possession is important.

1. See you have to register a cancellation deed with builder and seek refund of amount as per the terms and condition signed with builder.

2. IN case if there is delay as per promise made by builder you may file complaint before the RERA authority and may seek compensation and interest.

1. In case the flat is registered you have to sign a cancellation deed if same is mutually cancelled.

If the flat registration process has been taken like stamp duty and registration charges than you have to follow cancellation of flat and you will not get refund of stamp duty and registration amount to govt.

You will have to make a cancellation deed with the developer and get the same registered and in the same agreement put terms for your refund amount too.

- Yes, you can cancel the agreement for purchasing the said flat , and the builder is bound to refund the entire amount with 10% interest due to delay in possession.   

- Firstly you should send a demand notice after mentioning that due to delay in possession, you are cancelling the agreement, and thereby ask him to refund the entire amount paid by you with interest. 

- If the builder fails to response your notice, and not refund the amount within a period of 7 days of time, then you should file a complaint with the Consumer Court under the Consumer Protection Act, against the builder for deficiency in service.

- You can also claim compensation for mental agony and harassment due to delay in possession of the flat by the builder in the said consumer complaint.

- As per law, the builder is bound to refund the entire amount with interest due his fault.

- However , if the sale agreement already registered , then you have to prepare cancellation deed. 

1. IF the Agreement to Sale is duly stamp duty paid and registered, THEN you would need to execute a Cancellation Deed with mutual signatures of yourself and the builder.  This would also be compulsorily be required for Income Tax purposes.

2. IF the Builder refuses THEN you would have to make a complaint to local RERA office citing delay in project and refund with interest etc....

It would simply go with few deductions and termination of membership of the society 

Dear Sir,

Following examples make you clear.

Cancelling an apartment booking?

Saurabh from Bangalore booked an apartment in January 2014 after taking a home loan from a well known bank. However, now he wants to cancel the booking and is ready to bear the necessary monetary loss. He wrote to Magicbricks.com enquiring about his available options while cancelling the booking? 

Buyers like Saurabh, who due to various reasons, are forced to cancel their booked property. However, the path to booking cancellation is unfamiliar to many. 
Sometime issues such as delayed project and exuberant cancellation fees being charged by builders are faced by such buyers. 

Following are some circumstances that buyers can identify and their solutions with while cancelling their booking. 

Asha Nayar Basu, partner, S Jalan & Co, a legal firm in response to Saurabh's query says, "Carefully go through the sale/ allotment agreement on the clause pertaining to cancellation of the booking. It will be as per the agreement. Some ag .. 
There are others who did not sign any agreement or did not have a clause of cancellation of the agreement. Take for instance Dharmesh, who entered into an agreement for an under construction flat. His agreement had no provision for cancellation. In such cases Basu advices, "In case there is no clause for termination or cancellation, you can cancel the same on certain grounds of impossibility to perform the same, which can be made out from the agreement. However, if the agreement is cancelled on  .. 

You communicate your decision to cancel the booking in writing to the contractor and send the same by registered post.

You can demand the refund of booking amount.

You can mention the inordinate delay in completion of construction as reason for cancelling the booking.

If the builder is not responding or is not complying with the demands made, you may drag him to consumer forum for relief and remedy.

The registered sale agreement has to be cancelled by executing a joint cancellation deed before the registrar's office.

You need to inform your intention to cancel the Registration.

In case if both of you are ready and willing to cancel the Agreement, it can be done by executing Deed of Cancellation by mutual consent.

You can demand for refund of the Advance paid by you after deducting the cancellation charges.

Response to your second post:

It is advisable to execute Cancellation Deed, further, the Agreement was Registered, it is better to go for execution of Cancellation Deed.

From examining all the facts of your query I want to say that-

These cases are very common in various Courts of India and Supreme Court of India. I can really understand your problem in this regard. I have dealt with such cases in Supreme Court of India. I have observed that property deals need not always culminate in the execution and registration of an agreement. Sometimes, the deal may not go through and may be abandoned halfway, after the payment of token money or even after some of the payments have been made. The deal may be cancelled by either the seller or the buyer, for any reason.
Legally, the developer cannot deduct any money out of the advance payment you have made for the booking till the time a builder-buyer agreement is made and registered with the sub-registrar.

A Pune circuit bench of the state consumer disputes redressal commission has held that a registered agreement for a flat cannot be terminated/cancelled by the builder only through a legal notice to the buyer.
In a recent order, the bench comprising judicial member P B Joshi and member S K Kakade set aside a ruling by the Pune district consumer court, which had directed the Shakarnagar-based Jayati Constructions to refund Rs 2.4 lakh (the advance) to Parvati resident Raju A Shelar and his wife, Rupali, against a flat they had booked for Rs 12 lakh.

You need to also require to proceed with the cancellation deed. 

According to Supreme Court recent judgements Legal Notice through Advocate can be sent in this regard if developer is not complying with the rules. The enacted laws and the declaration of laws made by the Supreme Court are therefore binding on all High Court Judges. Article 141 of the Constitution provides that the law declared by the Supreme Court shall be binding on all courts within the territory of India. The general principles laid down by the Supreme Court are applicable to each individual including those who are not party to an order. All legal action can only be taken once notice has been served upon the entity or individual you wish to take to court. It is only this process that legalises bringing a matter to court. The intimation sent is known as a legal notice. A legal notice is, therefore, a formal communication to a person or an entity, informing the other party of your intention to undertake legal proceedings against them. This notice, when sent, conveys your intention before the legal proceedings and thus, makes the party aware of your grievance. You can approach Consumer Court, Maharashtra Real Estate Regulatory in Pune, Maharashtra if developer doesn't agree on your terms. Many times, a legal notice served will bring the other party on heels, and the problem can get resolved out of court too, with fruitful discussions on both sides. And, if the other party is still not heeding to the grievance, one can always start the court proceedings after a particular interval, as stated by the law. Although a legal notice can serve as a purpose of negotiations between the parties and save time, effort and money that are usually spent in court cases.

You may contact my secretary to connect with me for clarification.
I hope you and your family are safe and healthy. Stay home and be safe during Covid-19.

Gopal Verma,
Advocate on Record & Amicus Curiae,
Supreme Court of India

1. What is the date for delivery of possession and grace period? The agreement cannot be cancelled on the presumption that the project will not be complete within the time period mentioned in it?

2. Unless the delay actually takes place there will be no injury to rights, hence if you cancel the agreement without any default actually committed by the builder he will be entitled to debit the cancellation charges to you.

Execute Deed  of cancellation and seek refund of amount. 

1. Send a legal notice for cancellation of flat and refund of money paid to developer. 

2. After that you have to execute a cancellation. Deed if developer agrees for cancellation of flat otherwise you have to file suit against builder before RERA for cancellation of flat and refund of money paid along with interest.

You have to file a complaint with the RERA TRIBUNAL immediately as the builder will not refund the money.

The tribunal will see to it that you get your money back.

The deed will be cancelled once the court directs the builder to refund the money.

Bank NOC is necessary for execution of deed of cancellation 

2) bank will provide NOC on repayment of loan 

3) if builder refuses to refund approach consumer forum or RERA for necessary reliefs 

Buyer can cancel booking any time before registration of sale deed. No NOC required and cancellation deed required.  And if cancellation is due to builder fault, buyer is entitle to full refund with interest. And compensation through consumer court.

What if the builder never finds a customer for my flat ? - Not your headache. 

1. If you have taken a loan from the bank you have to take NOC from bank before cancellation of agreement.

2. Yes it is. In case the amount quoted by bank is paid bank may provide NoC.

Builder has to cancel if doesn't find buyer he has to refund your amount.

You were advised to take legal action instead of listening to the folk tales narrated by the builder. 

No doubt the bank has already sanctioned the loan but the procedure for cancellation of sale agreement may not be as cumbersome as stated by the builder. 

Even now you can handle the case legally  hence discuss with your advocate and proceed as suggested. 

You need to inform the builder through legal notice if possible then proceed to file complaint to rera or consumer court 

yes bank NOC is necessary and mandatory. 

once you repayment and settle loan amount bank will issue noc. 

it's builder problem not your. 

It is not your headache if builder is not having any client for this flat.

Get some deductions done and get you membership cancelled 

Dear Sir,

The builder is misleading you and you may serve a legal notice and may file the case accordingly. 

The builder is trying to harass and defraud you. You should inform the bank that youbare no longer interested in keeping the property and file a case in the RERA tribunal.

1. Builder is right.

2. If the loan has been sanctioned by the bank and disbursed to the builder then bank has to consent to the cancellation deed.

3. It is unwise in this country to invest in under construction properties.

- Yes, since the bank has already sanctioned some money , hence NOC from the bank is necessary for cancellation deed. 

- You can transfer the said loan to the intending purchaser.