Cancellation of agreement
In 2009, I enquired to buy a flat for personal use and informed by a reputed builder through mail that possession will be given end of December 2010.
I booked the flat in Haryana and paid 10% booking amount and got provisional allotment letter and I was send builder buyer agreement and I raised few queries like copy of plan approval from government and site plan and title of the property etc. and builder told me they are looking into these matters and pretty soon they will send me revised hard copy of builder buyer agreement. Subsequently paid down payment and signed builder buyer agreement 2010 and up to now flat is not ready
Now I want to cancel the agreement and claim interest from the builder from the date of booking) according to New law (RERA) penalty charges will start when you have paid 10% amount of property) and in my case date of booking regardless when you sign the builder buyer agreement.
By the way, I came to know through RTI enquiry builder license was expired in late 2009 and again renewed in 2011. Technically builder didn’t have licence when we signed builder buyer agreement on 2010 and I was not aware of it.
These are the facts.
I need your wise suggestions, what is the best option for me. Shall I legally peruse now or wait for the possession? And if I go legally now and how to arrange retainer ship with a lawyer and not to be taken for a ride. Please don’t feel offended. I am being honest.
Thanks and Regards,
Pradeep Kumar .
Asked 8 years ago in Property Law
Religion: Other
Do i have to pay tax on interest earned because of the cancellation.
Asked 8 years ago