Responsibility of cancellation of registered banakhat in ahmedabad

Yagnesh Chauhan (Querist) 24 March 2014 This query is : Open
Dear Sir / Madam

I am a seller. I have done Registered Banakhat (time limit is 3 months) with one of the buyer but now he is unable to arrange loan so he is unable to purchase my flat. Now other buyer is ready to purchase flat on urgent basis.

My question is that what is the procedure to cancel the registered banakhat and who will pay the fees (for advocate and at registered office). Is it like that if buyer will cancel the banakhat then he has to pay 1% registration fee and if seller will cancel it he dont have to pay anything.

Kindly advice.

Warm Regards,
Yagnesh

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