If a company insists on appointing the sole arbitrator at their own location, leaving the other party with no say, what good is an arbitration agreement? Does this situation truly offer a fair chance for justice?

Yes, the builder can legally charge you a cancellation fee, but it’s likely capped at 15% as per the Real Estate (Regulation and Development) Act, 2016 (RERA). However, you can negotiate with the builder to reduce this fee or explore other options like transferring the booking to another buyer.