Hello;
I would like to know if MoU to purchase a land from a land developer has got legal binding.
My Situation is following, I entered into an MoU with a land developer where It was stated that the land developer has applied for BMRDA approval to develop a land. Once the approval is obtained the land developer will enter into the agreement to sell the land.
The MoU was done after paying some amount (4 lakhs) to the developer. There was a clause also in the MoU that if developer does not obtain the approval within 6 months he will return the money taken for MoU with penalty.
I am trying to cancel the deal and asking the developer to return my money back but he is not willing to return.
What are the options I have to get my money back. The payment was done through cheque and for the payment receipt was also obtained from the developer.
Kindly advise. I am mentally disturbed and fear that I may loose my hard earned money.
