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Refund of token money after getting into a sale deed

(Querist) 24 July 2019 This query is : Resolved 
Few months back i decided to buy a 4Bhk house in Indirapuram, Ghaziabad. I met the owner he gave me all the details and put up a price of Rs.1,22,50,000. Here i made a mistake and i decided to go ahead with that price and entered in a sale deed with him and gave him a token amount of Rs.2,51,000. After some days i got to know from my property dealer that the base price for that house is somewhere between Rs 1cr to 1.5cr. Now after knowing this, i called the seller and asked him to kindly reduce the price as the rate we agreed on was way to much. He simply said no. Now he's also refusing to return my token amount. Please give me some solution or way through which i can get my token money back.
Adv Deepak Joshi +917017821512 (Expert) 24 July 2019
Do you have entered into agreement ?
What was mode if payment
kavksatyanarayana (Expert) 24 July 2019
Ji, if you have any proof for the advance payment, then issue a legal notice to him. If any writeen agreement is there at the time of negotiation and noted the price as Rs.1,22,50,000/-, you have to follow the terms and conditions as mentioned in the Agreement.
Dr J C Vashista (Expert) 25 July 2019
You are backing out of your contractual obligation for which the vendor has every right to accept your offer of cancellation in terms of agreement, wherein consideration (amount) is secondary.
Terms and conditions of agreement shall prevail.
It would be advisable to consult a local prudent lawyer for proper appreciation of facts, guidance and proceeding.


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