My take on this is from a lay man's perspective this does seem to be a tricky issue. Usually disbursements on an under construction project are based on the progress of work so if you are saying there has no work been done that is what sounds fishy and 15% is not a small amount for middle class buyers like us. I have the foll suggestion- Do check if any financial institution has approved this property. In this case they usually do all the pre work which shd be done by the buyer. If yes then its ok if not then also just ask 2-3 financial institutions and gauge their reputation and you may know the real picture. Also under normal circumstances since the rates are always rising builders do give back the token amount not because they are honest but because they can sell the same deal at a higher price to another buyer. You are doing the right thing by asking as many people as possible and not falling into a deeper pit by paying the builder just because he has asked for the money.
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