Will I have to settle on land after paying 10% initial deposit

I paid 10% initial deposit on my land earlier last year. Now land is ready for registration but I am having some issues due to which I can't settle. Land value has gone up since then. Can the vendor force me to settle on the land or can I forfeit my deposit and the vendor can find new buyer?

 

Seek legal advice

If the land has increased in value they might release you from the contract and give your money back. if not you might lose the full 10% and possibly more

 

If the land has gone up in value, have you investigated if you can onsell it yourself?

 

My brother in law bought a development block and sold it prior to settlement. The way the sale went through was that he formally settled the land then immediately settled with the new buyer on the same day.

However, it was not a new estate and there could be rules around on-selling? This could mean @Maneesh Chopra is not able to sell but won't know without legal advice.

 

Yes it may be possible to onsell.