I have booked a flat with TGS Construction Pvt Ltd in Bangalore on 15 Aug 2015 during pre launch offer by paying 30% of total cost of flat i.e all total Rs810000/-.
At the time of booking the proposed land for flats was not transferred in name of Builder(TGS Construction) from Land owner and till now it is not transferred also. Earlier a sale agreement was only made between them by paying about 35% of total cost, same was cancelled due to non payment of rest amount. Now again a fresh Sale Agreement is made in Feb 2016 by stating paid amount about 35% between land owner and TGS Construction.
At the time of booking builder has made the Memorandum Of Undertaking with me with some terms & conditions by stating that (i)flats will be handed over in 24 Months. If fails to do so the builder will pay rent fixed on mutually.
(ii) In case of cancellation of this by me (buyer) the builder will refund the paid amount without interest within 90 days. Same way if it cancelled by builder paid amount will be refunded by builder within 90 days with 8% interest.
But from my date of booking (15 Aug 2015)to till now the builder (TGS Construction) has not shown any progress on the proposed land,It is same laying plain land as it was earlier. By asking every times their employees replies that it is under conversion and other various approval by Govt and every time also tell it will be done within 3 months.
Now I wanted to cancel the said booking and want to recover my paid amount as per terms & conditions of MOU. But I have fear that what I will do when given post dated cheque may be bounce because many other customer have faced such problems.
In this regards I have tried to ask for cancellation but they have behave with me in very rude manner.
Therefore, In view of above. It is my humble request to experts, to guide me in very clear way by that I can recover my paid amount.
Or shall I wait for new coming enactment The Real Estate(Amendment ) Bill 2016 which is under process in parliament.