FAIRWEALTH SECURITIES LIMITED

Introduction

When it comes to selecting a builder for your dream home, thorough research is crucial. Fairwealth Securities Limited stands as one such name in the real estate market, particularly operating within the state of Haryana. This blog will provide an overview of the builder based on their complaint history, legal performance, and offer insights for potential buyers.

Builder Overview

Fairwealth Securities Limited has received a total of one formal complaint, which indicates a relatively low level of disputes considering its market presence. However, it’s important to delve deeper into the legal outcomes associated with this complaint to gain a more informed perspective.

Summary of Legal Cases

• Number of Complaints: 1
• Cases Won: 0
• Cases Lost: 1

Legal Case Details

The only legal case filed against Fairwealth Securities Limited involved a situation where the complainant alleged that they failed to take possession of an apartment within the agreed timeframe. Notably, the builder did not file a response to this complaint, resulting in a ruling from the Haryana Real Estate Regulatory Authority (RERA). The verdict directed the builder to make payments and take possession of the apartment, while also requiring the complainant to pay delayed possession charges.

Analysis of Performance

Cases Lost

The single case lost by Fairwealth Securities Limited revolves significantly around a failure to deliver on time. This case highlights a potential pattern concerning delayed possession, which could be critical for potential buyers concerned about timelines and the reliability of the builder in meeting deadlines.

Cases Won

Fairwealth Securities Limited does not have any won cases to report, indicating a lack of favorable outcomes in legal matters. The absence of successful defenses or counterclaims may raise concerns regarding the builder’s ability to navigate disputes effectively.

Conclusion

Overall, the performance of Fairwealth Securities Limited warrants cautious consideration. With just one complaint leading to an unfavorable outcome, potential buyers should carefully evaluate this builder's reputation in the market and consider their past performance before making a purchase decision.

Tips for Potential Buyers

1. Conduct Thorough Due Diligence: Research the builder's past projects, scrutinize online reviews, and consult with current homeowners.
2. Ask About Timelines: Directly inquire about their track record in meeting possession dates in prior projects.
3. Understand the Terms: Ensure you have a comprehensive understanding of all terms and conditions regarding possession, payment plans, and penalties for delays.

General Tips for Selecting Any Builder

• Verify Credentials: Check licenses, registrations, and compliance with local regulations.
• Look for Transparency: A reliable builder will furnish potential buyers with clear, written agreements and project timelines.
• Examine Project History: Review completed projects for quality of work, safety standards, and adherence to agreed timelines.
• Seek Recommendations: Word-of-mouth and references can provide insight into a builder's reputation and reliability.

By keeping these tips in mind and assessing Fairwealth Securities Limited’s performance, potential buyers can make more informed decisions when navigating the complex world of real estate.