Booking cancellation due to disagreement between bank and builder.
I booked an apartment in a RERA complaint project in the month of March with a reputed builder in Bangalore. This project is approved by most of the banks and also by the bank from which I am taking a loan. I have paid 4L and signed the agreement already. My agreement says builder is allowed to forefeet the 73,920/- (10% of the apartment cost) in case of cancellation from the purchaser. For this project, I am availing a home loan from a public sector bank which is trying to bind me and builder with some RERA complaint terms and conditions(I will share the exact condition as soon as I get it). Builder is not agreeing on one of the conditions in this Tripartite agreement and issuing me notice for interest chargeable for late disbursement of money or else go with some other bank which doesn't have this condition. I am okay with 1. Cancellation if builder refund entire amount 2. Sing the Tripartite agreement 3.Bank and builder negotiate on the terms in a timely manner but paying interest due to a long going discussion between builder and bank is not acceptable to me. Please guide me on what are my rights here and how should I tacle this problem. I have already sent mail to builder that I shall not be responsible for any interest charged due to a delay in TPA.