| CIN | Not Available |
|---|---|
| Year Established | Not Available |
| Address | Not Available |
| Company Status | Not Available |
Overall Case Outcomes
Fortune Realty is a builder operating within the state of Gujarat, with a reputation that has come under scrutiny due to a relatively low number of complaints and a significant loss in legal settings. With only one recorded complaint and a case lost, it’s essential to delve deeper into the particulars of the builder’s situation to understand what potential buyers might be getting into.
Legal Case Analysis
Despite the limited history, the legal case against Fortune Realty reveals important insights about their operational practices. The case stemmed from a violation of the Real Estate (Regulation and Development) Act, 2016, specifically regarding the improper advertisement that failed to include the mandatory RERA registration number and RERA website. This oversight resulted in a fine of Rs. 1 lakh imposed on the builder.
Common Factors in Cases Lost
In analyzing the lost case, a clear pattern emerges: the lack of compliance with mandatory …
Cases Lost by Builder (When Defending)
Yearly Trend for these Cases
Common Topics
Analysis of the cases filed against the builder Fortune Realty, where the builder lost, revealed several key themes across the disputes. The cases primarily revolved around two critical topics: regulatory non-compliance and advertisement misrepresentation.
The first theme, regulatory non-compliance, highlights the importance of adhering to the Real Estate (Regulation and Development) Act, 2016. In the sole case summarized, the builder was found to have violated Section 11(2) of the RERA by failing to mention their registration number and the RERA website in advertisements. This reflects a broader pattern of neglecting regulatory obligations, which may indicate a systemic issue within the builder's operations.
The reasons for these violations are varied, but a common trigger appears to be a lack of due diligence with respect to legal requirements. Builders may underestimate the importance of compliance or overlook the regulatory framework surrounding real estate advertising. Such non-compliance not only incurs financial penalties, as …
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