How can a Buyer cancel the flat? Or, can the deal be cancelled?
The answer varies depending on two wide scenarios - before and after registering the agreement.
Before registration; if the buyer wants to cancel - the cancellation will be governed by terms of the allotment letter if any, and it is not known of - the Promoter obstructing the cancellation. The Promoter can cancel the deal only if contemplated in the allotment letter if any.
After registration; if the buyer wants to cancel - the cancellation will now be governed by terms of the registered agreement. The Promoter may cancel the deal if the buyer violates the terms of the agreement e.g. doesn’t follow his payment schedules and it ends up unpaid.
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The information relayed in this blog should not be construed as legal advice. The applicability of information varies on the basis of the circumstances of each case. But feel free to call us for similar advice.
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