The cancellation of flat booking can be at two levels:
If the buyer cancels, the builder is bound to pay back the deposit money along with the interest. If builder fails to pay, case can be lodged against him.
If the cancellation is by the builder, he can be forced to deliver possession in stipulated time with added interest or costs to compensate for the lack of services.
Tackling real estate problems can be a difficult task, however RERA has simplified the mechanism of addressing disputes.