I booked a flat with Vatika group in Sep 14 under a 40:60 payment plan under which the 40 % will be paid within a year and the balance 60 % after 48 months on offer of possession. The agreement says that construction will be completed within 48 months. But Builder has sent me a letter offering possession and to pay the balance 60% (about 1 crore) after only 24 months and I am in no position to pay the money so early as I had not planned for it. I approached builder and he is saying that he will cancel the apartment and impose heavy penalties like Forfeiting of earnest money, charge me for brokerage paid by him and also the service tax remitted to Government. I want to know my legal options and the best possible exit route. Do I have any legal standing against the bidder offering a possession so early (in 24 months against 48 months promised? Please advise.