Monday, May 01, 2006

Pre-launches - The caveats

This is an informative article on the caveats of Property pre-launches.

Rajesh Chopra (name changed), a corporate executive, bought 5000 sq ft of retail space in a mall in Indirapuram developed by a relatively new developer in pre-launch scheme in June-July 2005. He invested close to Rs 50 lakhs on the builder’s promise that the project would be launched in two months’ time and he would then be able to book good profit on his investment. But the developer ran into financial problem and the project was shelved. Having failed to get his money back, Chopra has taken recourse to litigation.

Complete article here


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