| CIN | Not Available |
|---|---|
| Year Established | Not Available |
| Address | Not Available |
| Company Status | Not Available |
Overall Case Outcomes
Introduction
In the ever-growing real estate market, choosing a reliable builder is crucial for ensuring a smooth purchasing experience. Aakriti Aqua City Private Limited, operating mainly in Madhya Pradesh (MP), is one such builder that has garnered attention. However, their legal standing raises various concerns for potential buyers. In this blog post, we will delve into the builder's complaint history, the outcomes of their legal cases, and offer valuable tips for those considering a purchase.
Complaint Overview
Aakriti Aqua City Private Limited has faced a total of 3 complaints, all of which have resulted in losses for the builder. This is significant as zero cases have been won, indicating a concerning trend regarding their dispute resolutions. The builder operates exclusively in Madhya Pradesh, focusing on the 'Aakriti Aqua City' project.
Legal Analysis of Cases Lost
The details of the cases filed against the builder point to some alarming patterns:
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Cases Lost by Builder (When Defending)
Yearly Trend for these Cases
Common Topics
Analysis of the cases filed against Aakriti Aqua City Private Limited, where the builder lost, reveals several key themes and patterns. The cases primarily revolve around two main topics: delayed possession claims and refund and compensation disputes.
The delayed possession claims highlight the significant frustrations faced by buyers when developers fail to deliver properties on time. In these cases, buyers who had paid substantial amounts upfront expressed dissatisfaction with the builder's inability to provide possession within the agreed timeframe. For instance, one buyer had paid over 80% of the fixed price for a duplex yet faced a delay of more than two-and-a-half years. The builder presented a Memorandum of Understanding that pushed the delivery date to May 2049, along with an offer of compensation, which ultimately led to an agreement between the parties. This indicates a troubling trend where builders may over-promise and under-deliver, leading to negotiated settlements rather than …
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