He has cancelled the booking of my flat

Review On Sri Nidhi Estate, Bangalore

I booked a flat to Srinidhi Residency  in Bangalore in 2010 , this flat was supposed to be completed in 2012 July (max). there is one CLP (Construction link Plan ) loan is running on this flat which I am paying since the time of booking regularly. I was regular in submitting the demand of builder, but at the same time I wanted to get loan from other bank as the rate of interest of the current bank ( Deutsche home finance) is very high. But no bank was entertaining me till I do not get the possession of the flat. Since possession is near now ( as per builder is saying) I planned to take a full amount loan and pay it at once, this is why I was avoiding to take further loan from my current bank.

Now without actually informing me, Srinidhi Residency  has cancelled the booking of my flat. When I talked to them, they are asking for renewal amount of Rs. 4 lakhs, which will be a huge burden.

Please assist me what steps I can follow and how can avoid such a burden.

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