I had booked an apartment with Purva Riviera in 2004 at the prelaunch rate.(which was around 50% of the current quoted price). The promise made was that I would be insulated from any future price escalations. After a few months, I was intimated that I will need to pay Rs 50k-100k (frankly I don;t remember the extra cost now, it was either 50K or 100k) more as there have been some enhancements in the Riviera complex.
I vainly argued that since I was one of the 10 guys to have booked in the pre-launch period who were promised insulation from any price escalations, we shouldn’t be charged. Meeting with the sales manager didn’t help much. I had a meeting with Girish P. as well, and he told me that the price I had booked was very good, and Rs 50K- 1 lakh more was still a good price considering the rate there were selling at. I said it was not a question of extra money, it was all about keeping a promise. They didn’t budge and indicated that if I wish they can give the money back.
I knew that I am letting a probable good deal go, but then I didn’t want to deal with such issues for couple of years, till I got the apartment possession. I asked for money back, which they returned in a week’s time.