Regarding refund of advance payments before house registration
I recently went on to finalise a flat in Mumbai and paid advance amount before registration which is significant. The loan broker associated with the builder assured me to get the loan sanctioned at the promising rate, fast forward to providing all the required documents, the broker asked me to pay in cash beyond the sanctioned amount from the bank and few other monetary things were not clarified in advance before. I now want to cancel the booking and asked the builder to pay me the money back which I had paid in advance before the registration process.
The builder says he will pay me back after reduction which is 8% of what I paid in advance. Is this how it works under the Rera act? There was no registration done yet.
Need expert advise on this