Hi Team,
I booked a flat in 2012 thru subvention scheme (15% immediate payment and remaining during possession). In the tripartite agreement the builder had mentioned that the delivery will be in 2015 but till now it didn't get delivered and they say it's due to Goverment approval delays and nothing to do from their side. As everything mentioned in the agreement they said that they can't pay any interest. Now due to medical reasons, my husband has taken a break from his professional career and our financial priorities have changed. If we ask them to cancel the booking they say as per the agreement they will charge the penalty 15% of the total building cost (80L) which is a huge setback for us and we loose our entire initial payment. No registration has been done so far as the building is still under construction. Now, what are our options, please help us.
