PREM SHREE PRIME PROPERTIES PRIVATE LIMITED
- No of Complaints: 1
- States (Active in): Madhya Pradesh
| CIN | Not Available |
|---|---|
| Year Established | Not Available |
| Address | Not Available |
| Company Status | Not Available |
Analyzing Prem Shree Prime Properties Private Limited: Performance Insights for Potential Buyers
In the evolving real estate sector, potential buyers increasingly seek transparency and accountability from builders. Prem Shree Prime Properties Private Limited is one such player in the market, primarily active in Madhya Pradesh. In this blog post, we will delve into the builder’s performance, legal history, and provide essential tips for prospective homebuyers considering investing with them.
Performance Overview
Based on our analysis, Prem Shree Prime Properties has faced scrutiny within the industry, having recorded a total of 1 complaint. This complaint has resulted in the builder losing 1 case without securing any victories in legal disputes. Key Legal Findings reveal that the builder has had a legal encounter related to project delays and refund requests. The outcome of this case saw the authority ruling in favor of the applicant, emphasizing the builder's failure to meet agreed project timelines and obligations.
Legal Case Insights
Case Details
The single case against Prem Shree Prime Properties revolved around:
- Appellant Claim: The applicant alleged that the builder had delayed the completion of a project and failed to refund their deposit despite numerous requests.
- Respondent Claim: The builder claimed that delays were due to unforeseen circumstances and argued that the applicant did not comply with specific terms of the agreement.
- Final Verdict: The authority mandated the builder to refund the deposit with interest and penalty and stipulated a completion timeframe for the project.
From this, we can identify a pattern in the legal battle where the builder faced issues stemming from project delays and failure to communicate effectively or fulfill contractual obligations.
Analysis of Patterns
Cases Lost: The common factor in the case Prem Shree Prime Properties lost highlights a significant issue concerning project delays and inadequate responses to refund requests. This underscores potential weaknesses in the builder's project management and customer service practices.Cases Won: Analyzing the builder’s legal history reveals no instances of winning cases against them in broader contexts. As such, their legal performance suggests a troubling trend that casts doubt on their reliability and efficiency.
Conclusion
Overall, the performance of Prem Shree Prime Properties Private Limited indicates a builder who has encountered significant legal challenges and has not effectively managed customer relationships or project timelines. With a single legal case resulting in a loss, potential buyers should approach the decision to invest with caution.
Tips for Potential Buyers
- Conduct Thorough Research: Look into the builder’s previous projects, customer reviews, and any legal disputes. Understanding others’ experiences can provide valuable insights.
- Ask for Communication: Ensure there is transparency in communication and responsiveness when it comes to project timelines and any pending issues.
- Read Contracts Carefully: Verify all terms in the agreement, especially regarding completion dates and refund policies, to prevent any future disputes.
- Consult Professionals: Discuss your prospective purchase with real estate professionals who can guide you based on local market dynamics and builder reputations.
General Tips for Selecting Any Builder
- Check Registrations: Ensure the builder is registered with relevant authorities and has necessary approvals for their projects.
- Evaluate Financial Stability: A builder with financial difficulties may struggle to complete projects on time.
- Visit Previous Projects: Whenever possible, see previous projects to gauge the quality and adherence to design and timelines.
- Understand Warranty and Support: Inquire about post-sale support and warranty terms for the properties sold.
In summary, while Prem Shree Prime Properties has established itself as a player in the Madhya Pradesh real estate market, the evidence suggests that buyers should exercise due diligence and caution before proceeding with any transactions.
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Here you’ll find cases where others sued the builder, and the builder lost. We’ve included a simple summary and key takeaways from each case.
Analysis of the cases filed against Prem Shree Prime Properties Private Limited, where the builder lost, reveals several key themes and key patterns in the disputes presented. The cases primarily revolve around delayed possession claims, with many applicants alleging that the builder failed to complete projects on time, which led to dissatisfaction and legal action.
Common reasons for bringing cases to court include contesting delays attributed to unforeseen circumstances, which the builder frequently cited as a defense. However, the authorities did not accept this defense in the case summarized, indicating a pattern where the builder's attribution of delays to external factors was not sufficient to mitigate their responsibility.
Another recurring theme was the builder's failure to refund deposits to applicants upon request, demonstrating an inability or unwillingness to adhere to the terms of agreement and fulfill contractual obligations. This led to rulings mandating refunds along with interest and penalties, showcasing a legal expectation that builders must uphold their commitments.
The verdicts also highlight the legal system's emphasis on timely project completion. In the case outlined, the authority specified a timeframe within which the project must be completed, stressing the importance of meeting deadlines in real estate development.
The builder's losses in these cases can be attributed to several factors. Insufficient evidence to support their claims of unforeseen circumstances likely played a role, as did their failure to comply with the terms of agreements and complete projects on schedule. The builder’s defense often hinged on circumstances beyond their control, but the rulings suggest that the builder's accountability for project timelines and contractual obligations was not adequately met.
In conclusion, the analysis of these cases underscores the importance for builders to fulfill their commitments, complete projects on time, and adhere to contractual obligations. Buyers should be wary of builders with a history of such legal disputes, as it may indicate a pattern of inadequate project management and customer care.
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 |
|---|---|---|---|---|---|---|---|
| 24-2-40-20-0599 | Madhya Pradesh | The applicant filed a complaint against Prem Shre… | ["Real Estate", "De… | {"appellant_claim": "The applicant claimed that t… | Applicant | Prem Shree Prime Pr… | https://www.rera.mp.gov.in/upload/complaint_files/129216212226.pdf |