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1. How To Get Out From Failed Pre-Launch
Offers
(No. of words: 603)
Summary
A disturbing trend by some unscrupulous builders has emerged - prelaunch offers. What it means is that,
even before the project is approved by the authorities the builder lists out the facilities that would be on
offer and at a discounted price. This practice is illegal and how the buyers should beware of falling into
this trap.
Main Article
Whenever any housing project fails to launch, as promised in the 'pre-launch offer', one is free to drop
out. However, since, the builder has used your money; the builder must refund your booking amount
with interest. Several developers are coming out with pre-launch offers through advertisements and
special invitations. However, according to experts this is completely illegal as developers cannot sell
property, even before the grant of the license to develop the property.
As a buyer, who accepted the builder's pre-launch offer, the builder should compensate you for your
loss. The builder should refund your booking amount as per the current market rate. Let’s see what this
actually means.
For example, your pre-launch offer rate was Rs. 3000 per sq. ft. and you had paid a token amount of Rs.
1 or 2 lakhs or 10 / 15 per cent of the agreement cost as the booking amount. Now, at the time of
dropping out because of delay or uncertainty about the launch, the market rates have gone up to Rs.
5,000 per sq. ft. So, the builder has to refund your booking amount at the current market rate of Rs.
5,000 per sq. ft.
If one is going to buy property legitimately, then it's one’s right to get compensated for the builder's
inability to launch his project and fulfill his offer. Delay in launching the project and subsequent delay in
giving possession of flat - is the builder's fault. Not yours. So, the builder must compensate you for your
losses.
This can be adequately explained by giving an example:

2. Example:
Dear Sir,
I booked two 4BHK luxurious flats in Pune. The project does not appear to move anywhere since a long
time and I have started to have doubt on my investment. I have already paid 15% of the booking
amount one year back and my money is blocked. I cannot book any other flat in Pune or anywhere else
and if I cancel this booking they may charge a big amount of money.
Please suggest suitable remedies.
Thanks and Regards,
"Helplessness and ignorance about our rights as a buyer makes us suffer. Awareness about our rights
empowers us to fight for justice. Proper guidance is necessary for all assertive property buyers, with
proper guidance the aggrieved property buyers can get justice," Mr. Vijay Sagar from Grahak Panchyat
said and added that, "All depends upon what you prefer. Would you like to suffer or would you like to
fight for your rights? If you want to fight - tell your readers to meet me for guidance!"
The Maharashtra Government during last year had imposed a new VAT, the Maharashtra’s Value added
tax (MVAT). This had awakened and empowered the home buyers of Pune, who had bought property in
Pune during the period June 20, 2006 to March 31 2010. And in this empowerment was carried out by
the Grahak Panchyat, Grahak Hitvardhini and Sajag Nagarik Manch. Similarly, in this case of failed pre
launch offers these forums have provided tremendous assistance to the buyers.
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