A is the Owner of a property (Land), in Kolkata West Bengal, entered into a Development Agreement with the builder, with 50: 50 ratio, (50% of the total constructed area for the Owner and the remaining 50 % for the Builder) with a condition to complete the said construction within 24 months, from the date of agreement, A also executed a Development POA in favour of Builder, and at the time of agreement builder paid Rs. 5,00,000/- as forfeited money to A (Owner), However, things did not turn out as per the terms and even after the expiry of 8 years, no construction work was done. Now A (Owner) wants to cancel the agreement and POA. What is the procedure? what options are available keeping in mind that in no circumstance A wants to continue with this present builder.
Thanks
