Dear Sir,
It is related to sell of a shop in a building with Part Occupancy Certificate already received by developer. One shop of this building was purchased by Mr. X from developer on ownership basis. He had taken possession of the same from builder one year back. Possession letter exists. Now Mr. X has advertised in newspapare for resale of this shop. Mr. Y approached him and a deal is fixed. Mr. Y pays token amount and completes 1/4 th payment of total value by cheque.
Now, Mr. X says he does not want to go ahead for agreement as builder is not issuing him NOC for sale to other party. Mr. X ready to return amount taken from Mr. Y. When approached builder he says I am buying back the property from Mr. X.
In this case what shall Mr. Y do? Shall he simply take refund from Mr. Y and forget the deal or Mr. X is bound to do agreement with Mr. Y?
The payment done by cheque and receipt is given on plain paper in which total consideration amount and balance is alos mentioned.
Kindly guide on the issue.
