in event you cancel the booking  builder can deduct 10 per cent of earnest money paid by you 

if builder fails to refund your money file complaint against builder before RERA seek refund of money paid by you 

Dear Client,

The allottee shall have the right to cancel/withdraw his allotment in the project as provided in the Act, provided that where the allottee proposes to cancel/withdraw from the project without any fault of the promoter, the promoter herein is entitled to forfeit the booking amount paid for the allotment.

So, find fault of builder to withdraw from project.

You can seek refund on grounds that since no commencement certificate has been issued nor any building plans sanctioned bank is refusing to give you loan for purchase of flat 

This is enough ground for withdraw and refund. Project not feasible as bank decline to finance it and project freeze from 5 months.

Dear Sir,

Following examples make you clear.

Cancelling an apartment booking?

Saurabh from Bangalore booked an apartment in January 2014 after taking a home loan from a well known bank. However, now he wants to cancel the booking and is ready to bear the necessary monetary loss. He wrote to Magicbricks.com enquiring about his available options while cancelling the booking? 

Buyers like Saurabh, who due to various reasons, are forced to cancel their booked property. However, the path to booking cancellation is unfamiliar to many. 
Sometime issues such as delayed project and exuberant cancellation fees being charged by builders are faced by such buyers. 

Following are some circumstances that buyers can identify and their solutions with while cancelling their booking. 

Asha Nayar Basu, partner, S Jalan & Co, a legal firm in response to Saurabh's query says, "Carefully go through the sale/ allotment agreement on the clause pertaining to cancellation of the booking. It will be as per the agreement. Some ag .. 
There are others who did not sign any agreement or did not have a clause of cancellation of the agreement. Take for instance Dharmesh, who entered into an agreement for an under construction flat. His agreement had no provision for cancellation. In such cases Basu advices, "In case there is no clause for termination or cancellation, you can cancel the same on certain grounds of impossibility to perform the same, which can be made out from the agreement. However, if the agreement is cancelled on  .. 

I understand from your query that you have not signed any document for the payment. You can very well ask for a refund on the grounds of work not starting as promised to you. We can send a legal notice asking for refund of money and further legal actions can be sought on the reply we receive from the builder.

Hi,if they do not have necessary approvals from the competent authorities,you can seek full refund as per the norms of RERA ..It is advisable to issue a legal notice for refund to the developer, incase he fails to comply we can approach RERA forum for refund of our investment along with compensation 

This is my response to you:

1. What are the terms and conditions on the allotment letter?

2. Is there a forfeiture amount mentioned therein?

3. Is there some kind of penalty? in case of early cancellation?

4. You must state full facts of the case;

5. If it is RERA registered, and even if not mentioned in allotment letter, the builder can forfeit certain amount;

6. Consult a local lawyer and take steps. 

1.  IF Bank has scrutinized the available documents and found it unfit for giving Loan, THEN it means that there is something wrong with the project.

2. Cause of Legal Action arises, IF above is true and IF possession is delayed or IF you prove that Builder has misrepresented and cheated you by false promises and that project itself is fraud (can be confirmed from BMC records)

If this is rera registered property development and you have not enter into any agreement with the developer then you can ask for the refund of the amount as you are not comfortable with the conditions put a new to remain in the agreement you have to lodge your complaint in rera but in case this project is not registered in rera then you have to go to the consumer forum or consumer Commission whichever is the case  to get the refund with interest from the date you requested the refund of the amount

You can seek refund by filing complaint to rera or consumer Court

See you can send the notice to builder that he has incorporated the condition which were not incorporated during the time of booking so you need a refund of the amount back. 

Since no condition is singed the builder cannot deduct any amount. You can file a RERA complaint if on notice builder deny to refund the amount. 

See since for  work promised date is in 2022 there is time but for documentation and terms and condition ground you can seek refund. 

No you don't have to bear the penalty and withdraw charges.

Send them a formal notice for cancellation of booking and refund of full amount with interest because you are not comfortable with terms and conditions they are laying the agreement.

If they refuse to refund complete amount file a case against builder in consumer forum or regulatory authority RERA.

Even though there is no agreement entered between you both, the builder will not so easily refund the booing amount, he may give some crap reasons for not refunding the booking amount even though you may communicate your decision to cancel the booking by a registered post letter.

You may have to drag him to the consumer forum for refund and for compensation if he fails to respond to your demand made for refund after cancellation of booking.

.

These are not some strong grounds for seeking refund of entire amount because the commencement of construction within 5 months  of booking cannot be claimed, it is only the completion and the delay in furtherance that which counts for a genuine cancellation

However there is no such thing to prevent you from claiming full refund, let the builder give any reason for not refunding, you can initiate legal steps to drag him to court for recovery of your booking amount..