Read fine print
As always, one also needs to read the fine print. The application form states conditions like:
1. "pro-rata allotment in case of oversubscription" (this is not an IPO. Hence, oversubscription is possible only when the company will continue to sell even when it has sold out all plots!)
2. host of conditions which restrict the buyer rights in case of non-delivery / delays on the part of the developer
3. the developer has sole discretion to allot any plot!