Is there a way to back out of a flat purchase deal after an agreement has been signed? A person I know has booked a flat, signed agreement. Now the "reputed" builder is going back on a couple of promises - suddenly reduced the parking size, cut back on a few features. He just wants to cancel the deal and get his money back (whatever he has paid). Is it possible? Is it too late for him after agreement? Since agreements are done well in advance, I think this may be a common scenario and many people might be facing such problems.

Somebody asked me this, I had no clue. May help others.
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