Developer cancelled project_Not refunding booking amt immediately
I had booked a flat 2.5 years back in Prajay Megapolis, Hitech-City, Hyderabad. The developer had taken a booking amount of Rs. 7.5 lakhs 2.5 years back. I had made the payment via cheque and have the receipt for it. For 2.5 years the developer has been saying that the project will begin shortly. Now, they have scrapped the project.
They say that they don't have money so they cannot refund the booking amount immediately.
They are offering me a post dated cheque of 9 months form now. Also, they are saying that they will not provide any kind of interest on the booking amount. It's like they are taking a loan from me for 3 years without interest.
I want to get my money back immediately and also interest on the booking amount if possible.
Should I file a case in consumer forum?
Or should I file a private complaint in court for breach of trust?
Would I be able to get any interest on the booking amount? If yes, then how much?
I had signed an agreement with them. The agreement is very complex and I cannot understand it. What should I look for in the agreement to find caveats?
Also, I hear that there is a new law that is going to be passed very soon. Is this new law going to help me in any way?