I booked at flat in Dec 2008 at Thane. We have already paid the stamp duty and registration of the flat. We were to get possession of the flat by Dec 2009. It was a big project which was to be completed in 2 phases. Till now they had suspended all construction work because of some issues regarding their investors. We even visited their site and found that there is very little progress.
When we contacted the builders they said that currently they will not be working on the building in which we had booked our flat. They could not give a proper time frame as to when they would commence work on the same.
When we asked for a refund they suggested an alternative, which was to transfer to another flat in another building within the same complex which is currently undergoing construction. As we had already done the stamp duty and registration of our allotted flat they said that all we need to do is execute a rectification deed for this new flat. They said that there would be no need to redo the stamp duty and registration of the new flat.
My query is whether this rectification deed will be legally binding without the stamp duty and registration. Also, if this new flat was already registered to someone else how will I know? Even if I am told that there is no other owner and years later someone shows up with the original agreement of that flat, then what?
If there are any other legal problems that may arise kindly let me know.
Finally, as per law, should I enter into this rectification deed with the builder?
