EXACT DEVELOPERS & PROMOTERS PRIVATE LIMITED

Introduction

Exact Developers & Promoters Private Limited has been a player in the real estate market, particularly in the state of Haryana. This blog aims to analyze the builder's performance based on the available information, shedding light on its legal history and providing insights for potential buyers.

Legal Case Overview

Exact Developers & Promoters Private Limited has faced a total of 2 complaints, both of which resulted in losses for the builder. In examining these cases, we can gather significant insights into the operational challenges and reputational risks associated with this builder.

Case Details

1. First Case: The complainant claimed the builder failed to deliver possession of the unit within the stipulated period and sought a refund. The builder countered that the complainant had not paid the outstanding dues and had not taken possession. The verdict required the builder to refund the amount paid after deducting 10% as earnest money and provided interest at 10.85% per annum.
2. Second Case: Similar to the first, the complainant again claimed inability of the builder to deliver possession and sought a refund. The builder argued that the complainant had failed to take possession while also requesting outstanding dues. The decision was to refund the amount paid after deducting 10% and interest.

Patterns in the Cases Lost by the Builder

• Common Themes: Both cases revolve around the failure to deliver possession of the unit within agreed timelines. The builder's defense often included claims regarding unpaid dues by the complainants.
• Judgment Outcome: In both instances, the ruling favored the complainants, mandating refunds with a deduction for earnest money and interest, indicating a recurring issue with project delivery timelines.

Patterns in the Cases Won by the Builder

• In truth, Exact Developers & Promoters Private Limited did not won any legal cases; hence, examining patterns of successful defenses is not applicable. Instead, both cases concluded unfavorably for the builder, suggesting a consistent struggle with fulfilling obligations to customers.

Overall Assessment

Based on the limited legal history available, Exact Developers & Promoters Private Limited has encountered significant legal challenges. The trend of losing cases related to delivery failures raises concerns about ethical practices and operational capabilities. While the builder has been active in Haryana, their history of non-compliance with timely delivery obligations may deter potential buyers.

Tips for Potential Buyers

1. Due Diligence: Engage in thorough research regarding the builder, including reviews from previous buyers and current project statuses.
2. Legal Awareness: Understand the builder's history in terms of legal disputes and resolutions. Beware of builders with a pattern of complaints.
3. Payment Structure: Ensure clarity in payment timelines and delivery schedules. Request documentation to support agreements.
4. Possession Guarantees: Seek builders who provide solid guarantees on possession dates.

General Tips for Selecting a Builder

1. Investigate Reputation: Review feedback and ratings from prior projects. Talk to past homeowners if possible.
2. Understand Project Specifications: Know exactly what you’re purchasing; inspect materials and designs proposed.
3. Check for Accreditations: Verify if the builder is part of any professional organizations, which can reflect credibility and reliability.
4. Review Contracts Carefully: Pay special attention to the fine print in contracts regarding delays, penalties, and refund terms.

Conclusion

When considering Exact Developers & Promoters Private Limited, awareness of their legal history and customer feedback is paramount. The patterns seen in their past legal challenges highlight the necessity for prospective buyers to approach with caution, doing meticulous research and ensuring all contractual elements are clear and in their favor. Stay informed and make prudent choices!

Analysis of the cases filed against Exact Developers & Promoters Private Limited, where the builder lost, revealed significant insights into the common themes and disputes faced by the builder. The cases primarily revolved around two key topics: Delayed Possession Claims and Disputes over Payment and Possession.

The Delayed Possession Claims involved complaints from buyers who alleged that the builder failed to deliver possession of their units within the agreed-upon timeframe. In these cases, the buyers sought refunds for the amounts they had paid. A pattern emerged where the builder consistently attributed the delay to the buyers themselves, claiming that they had not paid outstanding dues or taken possession of the units. However, the authority did not accept this defense and ultimately directed the builder to refund the payments, indicating a failure on the builder's part to fulfill their contractual obligations.

Disputes over Payment and Possession were also prevalent, with the builder claiming that buyers failed to take possession and pay what they owed. However, the verdicts suggested that the builder's attempts to shift the blame were not convincing, as the focus remained on the builder's inability to deliver units on time. Common triggers for litigation in these cases included the builder’s failure to meet project timelines and fulfill their commitments, which led buyers to contest the status quo and seek refunds.

The reasons for the builder's losses in these cases were strikingly similar. In each instance, the builder's defense was rooted in a perceived failure by the buyers, rather than acknowledging any fault in their own operations. This led to a consistent failure to meet the authority's expectations, resulting in refund directives. The builder's losses could be attributed to insufficient evidence to support their claims, a lack of compliance with the agreed-upon terms, and possibly a misunderstanding of their obligations regarding timely project completion.