I booked a flat with a well-known builder and paid a booking amount of ₹2 lakhs. They said they wouldn’t deposit it until my loan was approved. Now, I’ve changed my mind and don’t want the flat. The builder says they’ll charge 24% interest. What happens if I stop paying?

Under Indian law, the builder cannot charge you interest on the booking amount as they haven’t deposited it yet. However, they might deduct a reasonable amount as cancellation charges, which is usually specified in the agreement. It’s best to consult a lawyer and review your agreement to understand your legal rights.