Sir,
I have booked an apartment in Manikonda, Hyderabad area in May-2012. An agreement was made with the builder that if he fails to complete the construction by Nov-2012 he will pay back my advance amount (5.5 Lakhs) along with 2% interest per month.
There is a clause that I have to get the property registered by Sep-2012. But the builder did not provide me (or any other buyer) the link documents of the property to apply for loan or to get the property registered which is his fault.
He has delayed the construction in such a level that there is more or less no progress in the construction.
We had a discussion with the builder and found that he has some money issues. So, we waited till March-2013 which is 4 months more than promised time.
Now, I have waited enough and wanted to cancel my purchase. He is not willing to pay my advance back.
Please let me know if the sale deed that we have made on a stamp paper of 50/- is valid now? What is the validity of the sale deed? It was signed by us in May-2012.
