quescan i stop payment of the flat i booked?

I had book a flat in reputed builder and paid booking amount of 200000. but they told until your loan get sanction we will not deposit it in bank. now i have changed my mind and dont want flat there, he told me they will charge interest at 24%. what if i stop the payment?

  • ansI have gone through the query raised by you, you have paid the earnest money to Builder, but you have not disclosed whether you and builder have entered into any agreement or not. if there is any agreement with Builder we have go through the same.Otherwise we have to refer to receipt if any issuedby Builder. In short we have to verify the written correspondance between you and builder.

    Advocate Radhika Pachpor

      Erandwane, Pune

  • ansAssuming that you have paid the booking amount by cheque which is not yet deposited....
    Don't worry, send a legal notice to the builder not to deposit the cheque as you are no more interested in booking. Further, intimate the bank for stop payment of the cheque.

    Advocate Sangram Singh Desai

      Shivajinagar, Pune

  • ansSir,
    Firstly you have not disclosed whether agreement has been executed with builder if not you can stop payment n ask for refund of amount, but if yes I would like to go through the said agreement n its terms so as to advice further in this matter.

    Advocate Pramod Kale

      District Court, Shivajinagar, Pune

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