"Or We Will Cancel Your Booking!"

I am in a dilemma.
In case of cancellation of booking, i am going to lose a big part of my booking amount. Which i can't afford.
If I accept my builder's demand - today,
i don't know what i have to accept - tomorrow
- compromise in quality of construction, delay in possession, completion certificate, society formation, conveyance deed....
What should i do? Please, suggest...

Should I pay my 20 per cent own contribution to the builder - even if, the project is not yet approved by my bank? In fact - not yet approved by any bank!

When i booked the flat, i was told that in the next 30 days - i have to pay my own contribution. Certainly, I agreed to pay and sign the agreement.

When I went to the builder's office to pay my own contribution, I asked whether the project is approved by my bank. The builder said - No. He hasn't yet submitted his file to my bank. In the next week, he will submit it.

Is it approved by any other bank? - I asked.
Builder said not yet - we are in the process of submitting our files to all banks.

When not a single bank has approved the project - how can i believe that there is no legal issue about this project? - I asked the builder.
You are free to believe or not to believe - that is not our concern - you must pay your own contribution in the next 2 days - the builder said.

And what about the agreement? - I asked.
We are starting the process of registration of agreement - the builder said.

Am i supposed to sign the agreement before my bank approves the project? - i asked.
Why not? - Do you know how much time your bank will take to approve my project? - the builder asked.
No. I don't know. I am buying a home for the first time. But you should know. You are the 'builder'. You should tell me. Guide me. Give me time till my bank approves the project. In fact, you should first get your project approved by my bank and then tell me to pay my own contribution and register the agreement. In that case, i would have felt safe to pay my own contribution and to sign the agreement too - I said.

Why are you feeling unsafe? Don't you trust me? - the builder asked.

Trust! You can ask the same question to the bank and get your project sanctioned! - i said.

Banks trust me. But, there is a process - time taking legal process for the approval - if, you don't want to sign and register the agreement - before the project is approved by your bank - i don't have any issues - I am ready to wait - but, you have to pay your own contribution in the next 2 days - the builder said.

If you are ready to wait to sign the agreement - why are you insisting on 2 days? I will pay my own contribution on the day my bank approves the project! - i said.

Because, while booking - you have agreed to pay your own contribution in the next 30 days - the builder said.

But, at the time of booking, you have told me that - you have submitted the file and - in a month's time - the project will be approved by the bank. But, you haven't yet submitted the file - Now, it will take more time - so, don't ask for own contribution - wait for the approval - i said.

Who are you to tell me to wait? - the builder said.

I am your customer - i am requesting you - why are you getting angry? - i said.

I go by my rules. If you want this flat - you have to follow my rules. You have to pay your own contribution in the next 2 days - or we will cancel your booking - the builder said.

I am in a dilemma. I am feeling insecure. The builder's demand is not logical. The builder is arrogant and unreasonable.

In case of cancellation of booking, i am going to lose a big part of my booking amount. Which i can't afford.

If I accept my builder's demand - today, i don't know what i have to accept - tomorrow - compromise in quality of construction, delay in possession, completion certificate, society formation, conveyance deed.

I have to deal with this builder on his terms for the next 4 - 5 years. In this transaction - i will never have any say. It's insulting. Unethical. Illogical.

The builder's terms are wrong. Because I pay in advance this builder can construct the project. I am the paymaster. Actually, i should dictate the terms. Not the builder.

I don't know whether the builder's terms would be against me or not - but, for sure, the builder has no concern about my interest.

What should i do? Should i pay my own contribution or cancel the booking? Please, suggest in the comments.