| CIN | Not Available |
|---|---|
| Year Established | Not Available |
| Address | Not Available |
| Company Status | Not Available |
Overall Case Outcomes
Introduction
In the competitive world of real estate, transparency and trust are paramount for both builders and buyers. Today, we turn our focus to Paramount Construction, a builder operating in Gujarat, India. Despite its commitment to development, the company has faced legal challenges that call its operational practices into question. In this detailed analysis, we will examine the builder's legal record, identify patterns in their complaints, and provide insights for potential buyers.
Legal Record and Details
Paramount Construction has faced a total of one complaint, which underscores the small number of projects they've undertaken or perhaps their overall success rate in maintaining customer satisfaction. Unfortunately, all of this single case resulted in a loss for the builder. Here’s a closer look:
- Legal Case Summary:
- Claim by Paramount Construction: The builder claimed they did not intentionally violate the RERA Act and that the units were sold on …
Cases Lost by Builder (When Filing)
Yearly Trend for these Cases
Common Topics
Analysis of the cases filed by Paramount Construction, which it lost, reveals important insights into the builder’s legal challenges and disputes.
The cases can be grouped under a few recurring themes. Firstly, the most prominent theme is Regulatory Non-compliance. This indicates that the builder has had legal conflicts primarily with regulatory bodies, most notably regarding the adherence to the RERA Act. A specific instance involves the violation of Section 13(1) of the RERA Act. In this scenario, Paramount Construction was accused of accepting more than 10% of the sale deed amount from unit holders prior to registering the necessary agreements for sale, which is prohibited under the Act.
Secondly, Penalties for Excess Advance Payments emerged as a significant issue, where the builder faced various penalties imposed by regulatory authorities for their failure to comply with the stipulated rules concerning advance payments and agreements.
The reasons behind …
Individual case details available for subscribers.
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