builder is not giving refund
i had booked a 2BHK flat in terra castle bhiwadi in Jun 2013.i have made 20% payment i.e.4,00,000/- with service tax.i got the project financed by LIC HFL a sumof rs.14,00,000/-out of which rs.575000/- has been disbursed to the builder on my behalf .Due to shortage of money and other social obligations i am not able to carry on the flat.I have been alloted unit H-1401 by the builder and agreement has been signed.i have requested the builder to cancel the flat.but they have refused to cancel booking saying that we are not accepting cancellation.but i am not able to pay any more.They have refused to pay my money back and warned me that they they will carry on charging penalty.So they are neither accepting cancellation not stopping panelty.i am paying EMI of the loan.They have refused to pay even a single penny for at least for next one and half year. I have tried all the way outs but in vain.At last i have decided to not to pay EMI. Kindly guide me on the following issues.
(a) whether the practices followed by builder are legal?
(b) What are the charges builder can impose?
(c) What rights i have against the builder?
(d) What are the legal action LIC HFL can take against me if i refused to pay EMI?
Your valuable advice would not only help me but all the victims of such builders.hope an early reply from your end.