Is builder cheating ?

Recently , I came across a good property in Pune.

I have some queries regarding purchasing the same flat. This project is still under construction & expected puzzation date is : Nov-2011 ( next yr or may be more than that.)

I was told by builder that you can book a flat by giving 1Lac Rs & then you have to process the loan within 10 days of booking. He also added that, I have to pay 20% amount to them & rest 80% you have to manage it through loan.

Also, He added that This 1Lac of amount is not REFUNDABLE.

I am very confused & Say if the loan some how not granted my 1 Lac will get lost.

Is this a real process ? is Builder is cheating ?

Pleaes guide

Plz name which builder are you talking about. I can send you a format of Consumer Complaint.

Rs. 50 is all what you pay to the court and then it will be a big headache for him.