Can I get refund with interest if builder is delaying possession

I had booked a flat with a builder in Dec 2013 under pre-launch. Sales people had told me that approvals will be in place in six months and construction will begin (this was verbal). Builder collected 20% of the flat cost (nearly 19 lakhs) from me within 30 days of booking. The term sheet I signed mentioned that in case of cancellation, the refund will be made once the unit is resold after deducting Rs.25000. I did not sign allotment letter, construction or sales agreement. The builder has been able to secure all approvals in Dec. 2016. During 2014-16, the builder did some excavation and construction but later stopped possibly as the approvals were not in place. Now builder has demanded another 20% amount (as per term sheet) and is indicating that the construction will be started and the flat will be ready in about four and half years time. I can not wait that long and would like to cancel. Will I get my money back with interest if I approach consumer court.