Issue legal notice to builder to cancel your booking and refund your money with interest 

2) if builder fails to refund file complaint against builder before RERA or consumer forum and seek orders to direct builder to refund your money with interest 

You can file complaint in rera or consumer Court for seeking compensation for delay as well as cancellation and refund if you want the same

You are entitle to full refund with interest or interest on delayed possession. Send legal notice.

Lastly have to approach consumer court if builder do not agree, you can also file FIR.

1. Please refer to the sale agreement to find out if there is any penal clause if there is any delay.

2. If they us such delay clause then ask for such compensation.

3. If there is no such terms then also you are titillated to damages provided you file a case before the consumer forum.

4. Now if for this inordinate delay you cancel the agreement then you are entitled to full refund along with interest and damages.

Decide accordingly.

File a consumer court complaint against the builder 

1. You have an positive option to file a grievance petition against the Builder /Developer, in the local Consumer Court, for their illegal trade practice, negligence, deficiency, harassment, intimidation, cheating etc.... with proper documentary evidences and you can claim damages /compensation & interest on your investment, and for your physical & mental trauma.

2. You also have an option (though undesirable) of filing Criminal complaint for Cheating, Fraud, Breach of Trust, Nuisance, etc....

You can make a complaint before RERA and if you desire you can get the booking cancelled and seek refund of your booking amount with interest for the delay committed by the builder in completing the construction.

You can issue a legal notice to the builder and drag him to consumer forum also for deficiency of service and for compensation.

Dear Sir,

You may approach the consumer forum or national commission as the case may be and you will get a judgment in your favor. Please view the following similar case. 

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Builder has to pay compensation if project is delayed  - National Commission

Building projects are often delayed due to disputes between a builder, land owner and developer. Builders try to term these as force majeure, which means due to circumstances beyond their control, to avoid being held liable for deficiency in service. In a recent ruling, the National Commission has held that such disputes cannot be termed force majeure, and a consumer would be entitled to claim a refund along with interest and compensation when the builder is unable to complete the housing project in time. However, a builder can neither unilaterally extend the date of possession nor insist on allotting alternate flat or plot to escape refunding the amount.
Case Study: Shahin Mulla wanted to purchase a residential unit in “Amar Prem”, a housing project in Goa, to be developed by Utopia Projects. The entire consideration of Rs 30 lakh was paid in two instalments of Rs 15 lakh each.

The agreement for construction and sale was executed thereafter on February 24, 2012. It stipulated that possession would be given by September 2013, but the builder would be entitled to a grace period of four months, i.e. till January 2014.

When Mulla visited the site in August 2013, she found that even the foundation had not been laid. She got a legal notice issued to the builder, which was ignored. So she filed a complaint before the Goa State Commission.

The builder contested the complaint, explaining that they had been assigned development rights by RPC Builders and Developers, who had later committed various breaches and were also demanding extra payment for the property. As a result of the dispute, work could not commence. The builder termed the dispute as force majeureand not due to any wilful default. Utopia Projects also pointed out that the complaint was premature as it had been filed prior to January 2014, which was the date of possession inclusive of the grace period.

The state commission observed that the agreement provided that in case of any delay beyond the grace period, the builder would pay the purchaser a monthly compensation at Rs 50 per sq.ft. The defence of force majeure cannot be invoked as the agreement had not been terminated due to inability to perform it.

The state commission concluded that there was deficiency in service and ordered the builder to refund the amount of Rs 30 lakh along with 5% interest from the date of payment of each instalment till the extended date of possession. For the delay, the commission directed payment of a monthly compensation of Rs 50 per sq. ft. from February 1, 2014 till the date of payment. For mental agony, a further amount of Rs 1 lakh was awarded, which would carry 9% interest if not paid within 30 days