| CIN | Not Available |
|---|---|
| Year Established | Not Available |
| Address | Not Available |
| Company Status | Not Available |
Introduction
When considering a new home or investment property, prospective buyers must perform thorough research on potential builders. In this blog post, we will analyze Fortune Builders, a company based in Madhya Pradesh, focusing on their track record in legal disputes, to provide insights for potential buyers.
Overview of Fortune Builders
Fortune Builders has received a limited number of complaints, totaling only 2. Remarkably, the company has a perfect record in legal proceedings, having won all of the cases filed against them, with no losses recorded. This reflects a strong performance in defending their positions in legal matters related to their projects.
Legal Case Analysis
Cases Lost
While reviews of Fortune Builders show they have not lost any legal cases, they have faced 2 complaints with mixed outcomes. Here’s a brief summary of the complaints against them:
- First Case:
- Appellant Claim: The applicant sought compensation for violations of the Real Estate (Regulation and Development) Act, 2016.
- Respondent Claim: Fortune Builders contended that they completed the work according to regulations and had received a certificate from the competent authority.
- Final Verdict: The case was dismissed, cancelling the refund with interest.
- Second Case:
- Appellant Claim: The applicant reported structural defects in his flat, including leakages, seepage, and cracks, and alleged unauthorized construction in a park.
- Respondent Claim: Fortune Builders argued that the project was finished before the RERA Act was implemented, claiming they were not subject to its regulations and that the applicant lacked evidence for his claims.
- Final Verdict: The Authority rejected the application, finding no proof of structural defects and ruling that the shed was not obstructing the park view.
Patterns in Cases
Analyzing these cases, we can observe a few patterns:
- Regulatory and Structural Claims: Both cases involved claims related to regulatory compliance and structural issues, a common area of contention in real estate projects.
- Misalignment with RERA: In at least one case, the builder leveraged the fact that the project was completed before the enactment of the RERA, suggesting a discrepancy between legal frameworks and actual practices.
- Lack of Evidence: The outcomes centered heavily on the absence of substantial evidence from the complainants, demonstrating that thorough documentation may be critical in such disputes.
Conclusion
Fortune Builders presents a strong legal standing with no losses in court, demonstrating their capability to defend against complaints effectively. This could indicate a generally favorable track record when it comes to fulfilling their obligations.Tips for Potential Buyers
- Conduct Thorough Research: Investigate the builder's history in projects similar to what interests you.
- Verifiable Documentation: Ensure you obtain and verify all necessary documentation, including completion certificates and regulatory compliance.
- Visit Completed Projects: If possible, visit some of the projects completed by Fortune Builders to observe the quality and satisfaction of current owners.
General Tips for Selecting Any Builder
- Check Reviews and Complaints: Look for reviews on platforms dedicated to real estate and builder experiences.
- Ask for References: Engaging with past clients can provide invaluable insights into the builder's reliability and quality of work.
- Understand Your Rights: Familiarize yourself with local regulations, such as RERA, to know your rights as a buyer.
By following these guidelines and understanding Fortune Builders' track record, prospective buyers can make informed decisions when exploring their options in the real estate market.
No builder reviews yet. Be the first to share your thoughts!
Here you’ll find cases where others sued the builder, but the builder won. We’ve included a summary and key insights from each case.
An analysis of the cases filed against the builder, Fortune Builders, which the builder won, revealed the following information.
The disputes primarily revolved around three key themes: Regulatory Compliance Disputes, Claims of Structural Defects, and Unauthorized Construction Claims.
In the context of Regulatory Compliance Disputes, one prominent case involved an applicant claiming violation of the Real Estate (Regulation and Development) Act, 2016.
The builder successfully defended itself by proving that all work was conducted according to the applicable regulations, with proper certification from the competent authority.
This highlights a common defensive strategy employed by the builder: adhering to established legal frameworks and demonstrating compliance with regulatory requirements.
The theme of Claims of Structural Defects surfaced prominently as well. One applicant asserted that his flat was plagued by leakages, seepages, and cracks, alleging negligence on the part of the builder.
In response, the builder contended that the project was completed before the RERA Act came into effect, thus asserting that the regulatory body lacked jurisdiction over the grievances.
Moreover, the builder's evidence pointed towards a lack of substantiation from the buyer, which ultimately led to the rejection of the claim.
Additionally, we saw the theme of Unauthorized Construction Claims with accusations regarding the construction of a parking shed in a park.
The builder effectively demonstrated that the shed did not obstruct the park's view, thereby clearing any misconceptions about unauthorized development.
The reasons for bringing these cases to court often stemmed from contesting perceived violations, seeking compensation for penalties, or disputing land use regulations.
A clear pattern emerged indicating that many buyers or regulatory bodies filed complaints rooted in misunderstandings of legal obligations or alleged breaches without adequate evidence to support their claims.
Fortune Builders typically emerged victorious due to several reasons: the presenting party's insufficient evidence, misinterpretation of regulatory frameworks, or a lack of clarity regarding the builder's compliance with legal standards.
These outcomes underscore the builder's capacity to effectively counter exaggerated or unfounded allegations made against it, thereby reinforcing its credibility in the market.
This analysis sheds light on the builder's reputation and reflects broader trends in the real estate market.
It suggests that while legitimate grievances exist, buyers sometimes levy unsubstantiated accusations, leading to protracted legal disputes.
Fortune Builders has demonstrated a formidable track record in defending itself against such claims, establishing a level of trust in its operations and compliance.
In conclusion, potential home buyers should approach the real estate market with a critical mindset. It's essential to assess claims carefully and seek reliable information before forming opinions about a builder's reputation.
While disputes can arise in the industry, this analysis illustrates that builders like Fortune Builders can frequently defend themselves successfully against unjust claims.
A well-informed buyer is better equipped to navigate the complexities of real estate transactions.
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 |
|---|---|---|---|---|---|---|---|
| 2 4-8? ,-7-0665 | Madhya Pradesh | The applicant, Shri Shailendra Kumar Udke, filed … | ["Structural defect… | {"appellant_claim": "The applicant claimed that h… | Shri Shailendra Kum… | Fortune Builder | https://www.rera.mp.gov.in/upload/complaint_files/121251521591.pdf |
| 4-82-20-0605 | Madhya Pradesh | The applicant sought compensation for violation o… | ["Real Estate", "Co… | {"appellant_claim": "The applicant claimed compen… | Vineet Wadhawan | Fortune Builders | https://www.rera.mp.gov.in/upload/complaint_files/493811848124.pdf |