I signed a MoU with a bank for letting out my commercial property( which is under construction according to the specification of the bank) . The rent I signed upon which was Rs.100 per sqft(5 months back). But now the demand for the property is very high ( almost double). So I want to terminate the MoU. What should I do? Will there be any legal binding on me?note: there was no monetary transaction happened until now). What reason can I give them other than rent?
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