| CIN | U70101DL2005PLC142294 |
|---|---|
| Year Established | 7-Nov-05 |
| Address | Flat No. 110, Pkt. A-3, Sector-7, Rohini Delhi North West DL 110085 IN |
| Company Status | Public |
Introduction
In a landscape where choosing the right builder can significantly impact your property investment, APEX BUILDTECH LIMITED stands out with some notable legal challenges. This blog post delves into the builder’s history, particularly focusing on their legal cases, to provide insights for potential buyers considering a partnership with them.
Builder Overview
Name: APEX BUILDTECH LIMITED
Number of Complaints: 2
Cases Won: 0
Cases Lost: 2
States with Projects: Haryana
Legal Case Summary
APEX BUILDTECH LIMITED has faced a total of two legal cases, both of which ended unfavorably for the builder. The cases involved claims primarily centered around delays in possession and financial disputes related to property arrangements.
Case Details
- Case 1
- Appellant Claim: Complainant sought possession of a flat, compensation for the delay, and adjustments on payments for another flat.
- Respondent Claim: The builder sought cancellation of the allotment due to non-payment and asked for the dismissal of the complaint.
- Final Verdict: The authority directed the builder to offer possession, pay delay interest, and provide a statement of accounts.
- Case 2
- Appellant Claim: Allegations of delayed possession of a penthouse with claims for a refund of ₹55 lakhs.
- Respondent Claim: The builder claimed that the complainant was offered possession in 2017 and that the project was completed prior to RERA enforcement.
- Final Verdict: The authority mandated a refund of ₹55 lakhs with interest at 10.7% from the date of payment until realization.
Analysis of Legal Cases
Patterns in Lost Cases
- Delays in Possession: Both lost cases prominently featured claims related to delays in delivering promised property. This suggests a recurring issue regarding the timely completion of projects.
- Financial Disputes: Disputes concerning financial arrangements (such as refunds and payment adjustments) appear to be common themes, indicating potential mismanagement or dissatisfaction with financial transparency.
Patterns in Won Cases
In the context provided, APEX BUILDTECH LIMITED did not win any cases; rather, all legal actions taken against them resulted in losses. Therefore, there are no patterns to be identified in cases won, highlighting a worrying trend for any potential buyer.
Conclusion
An overall assessment reveals that APEX BUILDTECH LIMITED has not been favorable in resolving disputes, with a 100% loss rate in the two documented cases. This raises red flags regarding the reliability and operational integrity of the builder. Potential buyers should be cautious and consider these legal outcomes when making their decisions.
Tips for Potential Buyers
- Conduct Thorough Research: Always look into a builder’s legal history and outstanding complaints to gauge their reliability.
- Seek Transparency: Ensure that the builder provides clear information about project timelines and payment structures.
- Engage Legal Counsel: Consider consulting with a real estate lawyer to review any agreements before signing.
- Join Online Forums: Engage in discussions with existing customers of APEX BUILDTECH LIMITED to understand their experiences.
General Tips for Selecting a Builder
- Check Reviews and Ratings: Online platforms and real estate forums offer valuable insights into a builder’s reputation.
- Verify Credentials: Confirm that the builder holds the necessary licenses and complies with local regulations.
- Inspect Past Projects: Visit completed projects to assess quality and finish.
- Understand RERA Regulations: Familiarize yourself with the Real Estate Regulatory Authority (RERA) guidelines, as they provide significant protection for buyers.
By keeping these aspects in mind, you can navigate the property market more effectively and ensure a satisfactory purchase experience.
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Here you’ll find cases where others sued the builder, and the builder lost. We’ve included a simple summary and key takeaways from each case.
Analysis of the cases filed against Apex Buildtech Limited, where the builder lost, reveals several key themes and key issues in their legal disputes.
The cases can be broadly categorized into three main topics: Delayed Possession Claims, Payment Disputes and Refunds, and Cancellation of Allotment. The most prominent theme among these is the Delayed Possession Claims, wherein buyers sought possession of their flats, often alleging significant delays in the delivery of units. For instance, in one case, the complainant sought possession of a penthouse and alleged a lack of any agreement in place, leading to a request for a refund of Rs. 55 lakhs.
Payment Disputes and Refunds also stand out as a major theme. Buyers and the builder frequently found themselves at odds over payments made, with buyers seeking refunds due to delays or cancellations of their flats. The builder's defense often revolved around claims of non-payment from buyers, which led to counter-claims for cancellation of allotment. However, the authority typically sided with the buyers, as seen in the refund of Rs. 55 lakhs with interest in one significant case.
The Cancellation of Allotment theme primarily arose from the builder's claims of non-payment from buyers. The builder sought to cancel flats allotted to buyers on grounds of insufficient payment, which reflects an underlying issue of communication or adherence to payment schedules in the purchase agreements.
Common reasons for litigation in these cases include contesting delays in possession, disputing payment obligations, and disagreements over the terms of sale. Buyers were often triggered to take legal action when they felt their payments were not being acknowledged or their possession dates were continuously pushed back. The builder’s losses in these cases frequently stemmed from insufficient evidence to support their claims, failure to communicate effectively with buyers regarding project updates and payment requirements, and a lack of compliance with the interim directions provided by authorities.
Overall, this analysis highlights the importance of clear communication and adherence to contractual obligations in real estate transactions. It also serves as a cautionary tale for buyers about the potential risks associated with delays and disputes in the sector, underscoring the need for thorough due diligence when engaging with builders such as Apex Buildtech Limited.
This table provides an analysis of individual cases that contributed to the summary above. Click on any row to expand and view complete details, and use the "Show More" button to load additional rows as needed.
| Case Number | State | Summary | Case Topic | Detailed Summary | Appellant Name | Respondent Name | Source |
|---|---|---|---|---|---|---|---|
| 62/2021 | Haryana | Complainant sought refund of Rs. 55 lakhs paid fo… | ["Refund for delaye… | {"appellant_claim": "Complainant alleged delay in… | Smt. Santosh Verma | Apex Buildtech Limi… | https://haryanarera.gov.in/assistancecontrol/viewOrderPdf/MTQwNDkx |
| 1074/2021 | Haryana | Complainant seeks possession of flat, compensatio… | ["Possession of fla… | {"appellant_claim": "Complainant seeks possession… | Smt. Santosh Saroha | Apex Buildtech Limi… | https://haryanarera.gov.in/assistancecontrol/viewOrderPdf/MTM5NzE0 |