Newa builders
Demand of 50% of property value at the time of booking (20 Lacks)

This is regarding the Newa builders in Airoli.

I wanted to book a flat (1 BHK - 675 sq.ft.) in their new project. The property value comes around 40 Lacks (5850/sq.ft.).

I was ready to pay 20% amount at the time of booking. However, the builder is demanding 50% amount, when only 2nd floor slab is completed.

The building is 20 storey and most probably the possession would be given in 2015.

I just wanted to know, how valid this demand is?

Request you to help me in finding out the solution.

Thanks in advance for the help.