I have book a flat from a Builder and paid 20% Amount (4 Lacs). I had told specifically that I intend to take 80 % Loan. He aggred and said the registration process will be over soon and then the loan formalities etc. will be done.
But, there was delay in Registration of the Flats (of the upcoming project) on account of Builder. But after 3 months, I received a Letter from the Builder that 50 % of Flat work is over and I need to pay 6 Lacs by 7 days otherwise 18 % interest rate will be charged.. When I confronted, they said... they didn't mean me... (BUT THE LETTER IS ADDRESSED TO ME)???????? WHAT IS THE NEED OF THIS LETTER? Besides, there is no delay etc. on my part... The matter is with builder, he needs to complete the registration process soon..........

Now, I wish to cancel my booking....

When asked about cancellation formality, they said just write to them and attach the original Receipts of the money which I had given earlier to them and I will get refund in 6 Months.....

There was no agreement etc, on CANCELLATION rule/ procedure etc. Why 6 months..?? Is there any Government Guideline etc..

Please suggest.............