I have entered into an oral agreement to purchase a flat at KALPTARU, Ghatkoper, Mumbai. The price is fixed and it is agreed that I will pay 5% upfront and balance within 45 days. I have more than 5%. Builder sent me draft allotment letter which includes unilateral rights to developer to cancel the booking for any breach of terms and conditions, and averments that buyer has inspected all the plans, documents and permissions. Buyer has not inspected any such thing and buyer does not want to give any unilateral right to builder to cancel the booking. Besides, there is no booking. There is straight forward purchase and sale of a ready property.
Through broker, developer agreed to go ahead with sale deed upon 20% payment which we have made. Now after receiving 20% payment, developer says he must have our unconditional acceptance of his allotment letter failing which he will send us a notice of cancellation.
We do not want to cancel the purchase. I believe that we have entered into a valid oral contract to purchase the flat, and have made part payment as well. Now we are insisting for execution of SALE DEED without our accepting their unreasonable condition of granting them unilateral right to cancel the deal.
Pls advise whether our rights of Specific Performance are duly protected in this situation, and whether we can be compelled to accept any unreasonable conditions imposed by developer from time to time.
Thanking you,
