Cancellation of a booked flat with agreement

Hi, Please help me out, Recently I have purchased a flat during the pre-launch offer by reputed builder and as a part of process I have ended paying around 18lks which includes booking amount + Towards Agreement + Completion of excavation. - Application form has been signed - Agreement is still pending Now I have initiated a cancellation without signing the agreement what is the consequences and the expected penalty? As per the booking form I see this below clause : If this Application Form is withdrawn / cancelled by the Applicant(s) after his/her/their/its acceptance, GHCPL shall be entitled to forfeit all the amounts received from the Applicant(s) subject to a maximum of the Earnest Money plus Overdue Interest on any overdue payments. Builder response to my cancellation request email : Thank you for writing to us. We wish to inform you that in case of cancellation, the amount upto 20% would be forfeited. Request you to kindly refer the application form for the same. Can someone clarify what does this 20% refering to ?