I visited a property based on add given in newspaper. Property is a bungalow built on a plot in cooperative housing society. I visited property exactly one month ago. I liked the property. Hence me and the owner of property decided to meet on next day to discuss further regarding cost and next process. Next day we mate at the same property. My relatives and both side brokers were present during that meet. We discussed and mutually agreed on a price. On the next day I went to owner. I handed over the check of Rs 1 lakh as a token / booking amount. I got a signature of owner on a plain white paper having 1 rs revenue stamp at the bottom. Owner cross signed on the revenue stamp. All the details including name of current owners, property address, agreed price and token amount with check details were mentioned on the paper. Also it is written that now owner is bound to sell this property to me and if he needs to sell it to somebody else then he will need my permission. Owner first read the contents carefully and then cross signed on revenue stamp.
Next day owner provided copies of whatever property documents he had to me and I handed over them to my lawyer for further review. Parallel I provided one set to my bank for loan processing. I paid to bank the fees required to process the loan such as legal fees. Bank did the valuation as well of the property and after completing all formalities bank approved my loan. Meanwhile I visited property thrice with some or the other reasons, showed property to my relatives, etc. and owner was always welcomes us.
Now after a month owner is denying to go ahead with this deal. He said on the call that he is feeling that he is selling the property at lower price and asking for more money. His broker also tried to convince him but he is denying. Now he is saying that he don't want to sell the property and giving various reasons such as he is frightened to go out for completing documents due to pandemic (Covid) situation, he is not getting good property to live after he will see this property, completion certificate is not available and he cannot get it, etc.
Can you please suggest what are the options in front of me. Owner is ready to return the token but I do not want to take the token back and want to go ahead with this deal. To me it is clear case of framing. Can I file a suit against the owner.