Consumer Redressal

Dear Sir, Appreciate your advice on the below matter. In January 2014 I booked a 2 BHK flat in Kurla West which is still not constructed paying 50% of the value including VAT and service tax. The balance amount was to be paid on possession. (possession in July 2016) When I booked in January 2014 I was told that the rate was Rs. 15,500 per sq. ft. I was also told by the builder when I did the booking that after one month the rate would go up to Rs. 16,500. So to book it quickly, which I did. Now I heard that the rate is Rs. 13,500 for those who pay 50% as down payment. I also did the registration of the flat and paid stamp duty in January 2014 itself. I spoke to the builder, at first he said that I will have to cancel my registration and book again a different flat. I agreed. Now he is telling me that the Building is mortgaged to some bank, so I cannot cancel the agreement and I cannot get the new rate of Rs. 13,500. The difference is approximately 38 lakh. Please advise.