Cancellation of booked flat
Hi, I recently booked a flat on 27th april 2015, paid 1Lakhs as a token advance , opted for bank loan, signed agreement deed - one copy - original was given to bank for home loan, xerox copy is available with builder and with us, now due to mother health problem I spent all money reserved for buying the house, so I cancelled the booking, now the builder is asking us to pay ( as per sale deed given to bank )cancellation charge of 2.5 lakhs + 24% interest of total house value ( 73 Lakhs ), please guide us wheather we have to pay the above charges - since I donot have the money, I cannot pay the amount or how to deal this situation, please help, thanks
Asked 8 years ago in Property Law
Religion: Hindu