Proposed n a plot purchase

Dear Team,

I have purchased 2 plots of 1089 sq.ft. at Shahapur from a developer in Thane at low rate and have filled up the form for 2 more plots, the payment for which is to be done in July'14.

As per the developer, the plots are proposed to N.A., it will take 3 years to complete the sale agreement of the plots. They have prepared an MOU which I haven't received yet.  

While carrying out the deal, I spoke to their sales agent and he assured that the plot can be utilised for building after 3 years from the date of the booking.

We have also discussed that the plots need to be of corner side to which he has agreed but there was nothing on paper.

We handed over to them 2 cheques, 1 cheque for current purchase and 1 cheque for the purchase in July.

I have signed on an application form. There was a declaration in minute font which i didn't read while signing.

The declaration reads as follows :

"Dear customer before going to book in to the project please all the rules and regulations as per company manual, 

1. All booking are accepeted as per plans/schemes/offers made by XXX group from time to for the projects.
2. XXX group reserves the right to reject the bookin requested by the subscribed within the XXX group projects without any reason. No explanation will be furnished by XXX group in case of any rejection to anybody
3. Rate is subject to revision without any prior intimation.
4. Company only Accepts cheque on the name of "XXXXX X-X XXXXXXXXXX" (Company name).
5. Company will provide booking receipt for the  booking amt. Received from the customer/party.
6. Company will provide statement for EMI paid by customer.
7. Company won't charge any addnl. amount other than mention in to the agreement from the customer.party
8. Company is paying receipt of each and every cash payment received from the customer.
9. While filling up the forms please write your corect details in mandatory fields marked**
10. Any change in address and contact no. need to be informed in writing to head office.
11. The allotment of plot, shall be carried out and informed to the Applicant at the function hosted by the Developer on or before possession by random plot allotment system only.
12. The result of such allotment shall be final and Binding upon the applicants and no applicant can dispute the same and/or entitled to change the said allotment.
13. Only those applicants who have made regualr payment upto the date if allotment function will be eligible to participate in the allotment function.
14. Overwritten forms will not be accepted. The company reserves the right to reject any uncompleted application without going into any argument. if the application is accepted company will issue one receipt as an evidence for the acceptance of the offer for which the booking payment is made.
15. Stamp Duty, Registration, Society & Maintenance, Service Tax, VAT and any other Govt. Charges shall be paid extra as applicable by the Applicant.
16. In case of cancellation requested by the applicant, payment received from the applicant till such date will be refunded within 120 days after deducting cancellation charges of Rs. 10000 ( Rupees. Ten Thousand Only.)
17. M.O.U. will be entered into on submission of 24 EMI cheques received by company.
18. Sale agreement is the only legal agreement.
19. Sales agreement will be done after completion of and final payment as well as complision of 60 months period from booking only.
20. There after, all previous documents will be treated as null and void.
21. The applicant may also, with the prior approval of the company, transfer, his/her  right to any other person. However the transferee shall be bound by all terms and conditions to which the transferer was subject to.
22. Until the joint notice of such and the transferee is registered in the developers record. Transfer fee of Rs. 5000 (Rupees Five thousand only ) wil be applicable for every transfer.
23. In cse any unavoidable and unforeseen circumstances, if the company is unable to start the project, applicant has right to claim principal payments, along with interest @ 12%p.a. only without any other obligation and compensations, after 60 months period.
24. The Company reserves the right to alter/modify any of the terms and condition of this present and such terms and condition shall be binding on all the applicants. Such modified terms and conditions shall be notified by the company by displaying at notice board and / or of the agent and /or by post to applicant and or by mail i.d. provided by customer.
25. For the benefit of the applicant, the company shall intimate the detail of new property / products from time to time by display at the notice board of the company and / or post applicant and / or by mail provided by customer.
26. The Company reserves the right to refund the amount paid by applicant and terminate this MOU at any time it is necessary or expdient to do so.
27. The terms and conditions contained in this present would be bonding on the company as well as the applicant subject to force-majeure clause.
28. Company shall not be liable to anyone for any costd or damages in respect of any action taken by it in exercise of the terms and condition of these presents.
29. If cheque is not cleared within 60 days of bounce, customer id will get cancelled. Customer has to go for new booking,
30. For free plot customer complusory as to write customer id the reference column for new customer form.
31. We don't charge any service charges."

After carrying out the purchase I came to know that in Shahapur, there are frauds who just get money from applicants, carry out M.O.U. and when after a waiting of 60 months, they just give the money back saying that the NA was not done.

Please let me know how to handle this situation where I have invested in the property to purchase but am still unsure whether I will get my plots or my money back

I had kept this money by saving from whatever I had.

Please let me know the plan of action to avoid being mislead by the company.

Thanks,

Kaisar Mukadam

kaisarmukadam@gmail.com