Dear Ms. Suchitra,
I will also add my views to the confusion. Your query is very ambiguous and hence you are getting such conflicting opinions.
Scenario-1: If sale deed has already been executed by the builder in favour of the purchaser and now the purchaser wants to get out of the deal and seek refund of the monies paid under the agreement:
Answer: Kindly go through the covenants in the agreement and ascertain the legal remedies available in the event of breach by builder to perform.
(a) If no arbitration clause is there, file a suit before the civil court seeking refund of the monies paid + interest + damages + costs on the ground of breach of contract and also for a consequential relief of nullifying the sale deed executed in favour of the purchaser.
(b) If there is an arbitration clause, refer the dispute to arbitration and file a claim petition stating all your claims and the Purchaser's willingness to reconvey the property back to the builder. The arbitrator while allowing the claims can direct reconveyance of the property back to the builder.
Scenario - 2: The Purchaser wants delivery of the flat as the sale deed has been executed in his favour.
Answer: In this case the purchaser can sue to legally enforce the agreement before a civil court or before an arbitrator as the case may be.
Scenario - 3: The sale deed has not been executed and the purchaser wants to exit the deal:
Answer: Pls resort to the remedy suggested in Scenario 1 except seeking nullification of the sale deed.
Scenario - 4: The sale deed has not been executed and the purchaser wants to continue with the deal and complete the transaction:
Answer: Pls resort to the remedy suggested in Scenario 2.
I hope this has clarified your qury,