Hi

By the very act of you issuing stop payment instructions to your bank, you have demonstrated that you did not accept the terms of agreement. Hence you have revoked the proposal(agreement of sale) by your act of stop payment of cheque (sec 6 (3) of Indian Contract Act)

Kindly also issue notices to builder that you are not interested to purchase the property and hence the agreement for sale is deemed to be cancelled.

If the seller sends you a return legal notice, you can always revert by pointing to the legal defects in his title.

No issues are likely to arise as you have prevented yourself from being cheated and you have complied with the provisions of Indian Contract Act for revocation of agreement of sale (i.e stop payment of cheque and also issuing notices).

Hope this information is useful

1) the terms of contract are sacrosanct

2) since you have signed agreement you have to complete transaction within period of 30 days

3) if you have stopped payment of cheque seller can file suit fur specific performance of contract

4) better to cancel agreement by mutual consent

You are free to issue a lawyer's notice to the seller to cancel the agreement to sell. The clauses extracted by you do not preclude you from cancelling the agreement.

You have to send notice of cancellation to your vendor immediately by stating reasons of defect in title / patta etc., and stopped the cheque payment. Intimate him not to present the cheque in bank and return it to you. As title is not clear all conditions are deemed to be cancels and not biding. The sale agreement is sham and invalid.

If you would like to cancel the sale agreement, you can issue notice stating that you are cancelling the same and hence the cheque issued for sale consideration (advance) may be returned, you may also include that yo have already instructed the bankers to not to honor the cheque on presentation hence the bearer to return the same immediately.