Pre-launch booking fetches handsome returns

It is a growing phenomenon and while in the best-case scenario works as a win-win situation for the buyer and developer, due the inherent risk involved, pre-launch bookings have now started attracting the attention of regulatory authorities.
Pre-launch booking refers to the practice where a developer accepts money from potential flat buyers before the formal launch of the project – sometimes even before getting the necessary approvals and commencement certificates.