PARSVNATH DEVELOPERS LIMITED

Introduction

Parsvnath Developers Limited is a notable player in the real estate sector of India, operating primarily in states like Uttar Pradesh, Delhi, Haryana, Rajasthan, and Punjab. However, their legal journey has been turbulent, as highlighted by the high number of complaints and the outcomes of legal cases against them. In this blog, we'll delve into the patterns observed in their legal battles and offer insights for potential buyers.

Complaint Overview

• Total Complaints Filed: 1953
• Cases Won: 134
• Cases Lost: 1819

Patterns in Lost Cases

The overwhelming number of cases lost by Parsvnath Developers Limited signifies potential issues in their operational practices. Here are some common themes identified:

1. Non-Compliance with Regulations: Many cases were dismissed or lost due to the builder's failure to comply with statutory obligations under the Real Estate (Regulation and Development) Act. For example, multiple appeals were dismissed because of non-compliance with required …

Unlock Full Report & Analysis

Analysis of the cases filed against Parsvnath Developers Limited, which the builder lost, reveals a multitude of themes surrounding their legal disputes. Most cases revolve around delayed possession claims, where buyers sought refunds or compensation for the builder's failure to deliver properties on time.

The first common theme is Delayed Possession Claims. In numerous instances, the builder was held accountable for significant delays in delivering residential flats and plots. Buyers claimed that despite their payments, the builder had not provided possession, leading to emotional distress and financial losses. The authority consistently directed the builder to refund amounts paid along with interest, often citing the builder's failure to adhere to promised timelines.

Refund and Compensation Disputes constitute another frequent theme. Here, the issues typically revolved around the builder's obligation to return deposits or compensate buyers for delays. The builder's defenses often hinged on claims of unforeseen circumstances or …

Unlock Full Report & Analysis

The analysis of the cases filed by the builder, Parsvnath Developers Limited, which it lost, reveals a troubling pattern of disputes primarily centered around regulatory non-compliance and issues regarding the allotment and possession of plots.

Regulatory Non-Compliance

A significant number of cases focused on the builder's failure to adhere to statutory regulations, particularly those specified under the Real Estate (Regulation and Development) Act, 2016. The builder often contested decisions made by the Haryana Real Estate Regulatory Authority, arguing against their enforceability and validity. However, in multiple instances, the appeals were dismissed due to the builder's non-compliance with mandatory provisions, highlighting a critical oversight in their operational protocols.

Disputes Over Allotment and Possession of Plots

Another recurring theme involves disputes over the entitlement of respondents to plots and their possession. The builder frequently asserted that the respondents were not entitled to allotments due to unpaid balances. However, …

Unlock Full Report & Analysis

An analysis of the cases filed by the builder, which it won, revealed the following information. The cases can be grouped into several common themes, reflecting the primary disputes encountered by Parsvnath Developers Limited. The most notable themes include 'Interest Rate Disputes', where the builder contested the applicability and justification of interest rates awarded by the RERA; 'Penalties and Appeals', where the builder sought restoration of appeals and the reconsideration of imposed penalties; and 'Withdrawals and Claims on Flat Specifications', related to resolutions allowing the withdrawal of claims and contentions over flat specifications.

The primary reasons for bringing these cases to court are often linked to contesting penalties adjudged by authorities, disputes over project delays attributed to factors outside the builder’s control, or disagreements regarding financial terms dictated by agreements and regulatory bodies. This suggests a proactive approach by Parsvnath Developers to address issues arising out of …

Unlock Full Report & Analysis

An analysis of the cases filed against the builder, Parsvnath Developers Limited, which the builder won, revealed the following information. The cases can be grouped into several common themes:

• Delayed Possession Claims: Many complainants asserted that they were entitled to refunds due to substantial delays in project completion and possession. However, it was found often that the builder was able to show justifiable reasons for the delays, including regulatory issues and project complexities.
• Refund and Financial Dispute Claims: Numerous cases centered around disputes regarding refunds for amounts deposited in properties that were not completed or delivered on time. The builder effectively argued that the complainants failed to demonstrate their entitlement to refunds as per the conditions agreed upon in prior contracts.
• Non-compliance with Regulatory Requirements: Several cases were dismissed on grounds that projects were registered correctly or that complaints related to non-registration were …

Unlock Full Report & Analysis