Flat allotment letter

Piyush (Querist) 11 October 2012 This query is : Resolved
Hi,

I have got a offer for Pre-launch of one project from one re-known builder. His offer says that I need to give 30% of considerable value for booking in Pre-launch and he will issue me Allotment Letter. He will launch his project after one year atleast with 20% increase in the base price.

I want to know whether "allotment letter" is a legal document and can I fight on the basis of Allotment letter if something goes wrong in the deal? If he delays the launch or withdraw the project? Is this a general practice followed by all builders and how much risk is involved in this type of transaction.

Pls help me to clear my doubts.

Thanks!!

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Advocate M.Bhadra (Expert) 11 October 2012
If you are a landlord then you should have valid document like as Development Agreement and allotment letter, on the other hand if you are a purchaser then you should have registerd Deed of Sale,allotment letter is not a valid document.

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