Payment made against property is forfieted or refundable?

You can issue him legal notice as required.

Are there any chances of fast recovery of our money? can we bring stay on this property?

Ms.Nivedita,

The relationship of buyer and seller of the immoveable property is governed through the contract.  In the instant case you have not stated whether there is any written contract and if yes what are the salient provisions of the same.

Please furnish the details.

Best Regards

Daksh

no written contract its oral contract, we needed to proceed immediately with the agreement as to avail the loan scheme which was valid till end march. hence we did not thought of it as we were directly to proceed with the agreement next day. 

Dear 

Any property sold/[purchased without written document and duly registered poses its own problems. However, in most of the cases customers have to pay some money without receipt in the ratio of 60:40 with the connivance of the authorities. It is an open secret. Still when the builder or the person you are dealing with has some reputation and is reliable, problem does not arise because in such cases fraud is hardly played. All must understand that the enforcing person has got one up when that person is equipped with documentary evidence. In courts evidence that counts. Here the person asking for affidavit is with prudence and is trying to avoid any future trouble. Litigation is always painful and does not come with its own troubles. It is best to settled outside the court.

Valentine,Advocate

Dear 

Any property sold/[purchased without written document and not duly registered poses its own problems. However, in most of the cases customers have to pay some money without receipt in the ratio of 60:40 with the connivance of the authorities. It is an open secret. Still when the builder or the person you are dealing with has some reputation and is reliable, problem does not arise because in such cases fraud is hardly played. All must understand that the enforcing person has got one up when that person is equipped with documentary evidence. In courts it is evidence that counts. Here the person asking for affidavit is with prudence and is trying to avoid any future trouble. Litigation is always painful and does not come without its own troubles. It is best to get the matter settled outside the court.

Valentine,Advocate

Adv. Valentine's solution is the best follow it

It was not 60:40 contract. We have made all the payment throgh cheques. Within 2 days only, we cancelled the deal. There was no written agreemnet or any receipt though. Since the deal is cancelled and we conveyed the same to the seller immediately, is it inappropriate to ask for our money back?

offcource u can ask. but if he is asking the termination of oral agreement in documents it does not harm buyer.on the otherhand he is admitting the cheque transation took place betn u is for land. he may treat this cheque as deposits.better put the cake in ur hand