| CIN | Not Available |
|---|---|
| Year Established | Not Available |
| Address | Not Available |
| Company Status | Not Available |
Understanding PRIME PROPERTIES: A Close Look at Their Performance and Buyer Considerations
When exploring potential builders for real estate projects, it's essential to analyze their track record and legal history. One such builder is PRIME PROPERTIES, which operates primarily in Odisha. This blog post delves into the legal performance of PRIME PROPERTIES based on the data available, offering insights for prospective buyers.
Legal Case Overview
PRIME PROPERTIES has encountered a total of two cases in the legal arena—one they lost and one that involved a penalty but was effectively a win from a procedural standpoint. Here’s a closer look at the particulars of these cases:
Cases Lost
- Single Case Lost: The builder has one recorded case that they lost. The case details suggest that the primary issue involved the builder's failure to submit the Quarterly Progress Reports (QPRs), leading the court to impose a penalty of Rs. 10,000. This case highlights a significant administrative oversight, governed by legal requirements that must be strictly adhered to in real estate dealings.
Cases Won
- Single Case Won: While technically a win in procedural terms, the only case categorized as a win for PRIME PROPERTIES points out the inadequacies in their report submission processes. The court directed the builder to rectify the mistake by uploading all required QPRs, indicating a lack of organizational diligence.
Analysis of Legal Performance
Common Factors in Lost Cases
The case that PRIME PROPERTIES lost showcases a common theme of poor compliance with reporting requirements. Such oversights in legal obligations can reflect poorly on the builder's operational practices and might suggest a lack of attention to detail.
Common Factors in Won Cases
The win, in this instance, serves more as an administrative resolution than a vindication of the builder's practices. The fact that the builder was found at fault for not submitting necessary documentation can indicate systemic issues within the company, especially when it comes to maintaining regulatory compliances.
Conclusion
Based on the provided data, PRIME PROPERTIES has experienced challenges in legal compliance, which could raise concerns for potential buyers. While they have operated legally in Odisha, their track record reveals a clear need for improvement in administrative processes and adherence to legal obligations.
Tips for Potential Buyers
- Due Diligence: Before engaging with PRIME PROPERTIES, conduct thorough research beyond just their legal performance. Investigate previous projects, customer reviews, and overall market reputation.
- Ask About Compliance: Inquire explicitly about how the builder manages documentation and file submissions. Clear processes in place can significantly mitigate risks.
- Confirm Licenses and Registrations: Ensure that all legal registrations and licenses are available and up to date.
General Tips for Buyers When Selecting a Builder
- Research Their History: Look into the builder's past projects and any legal issues that may have arisen.
- Check References: Speak to previous customers to gain insight into their experiences, both positive and negative.
- Visit Completed Projects: Seeing completed work in person can provide valuable insight into the quality of construction and design.
- Review Contracts Carefully: Always ensure that contracts clearly outline all terms and conditions to avoid potential misunderstandings in the future.
By gleaning insights from their performance history and making informed decisions, potential buyers can better navigate the complexities of purchasing property with builders like PRIME PROPERTIES.
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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 Prime Properties that the builder lost reveals several key themes across the disputes. The cases highlight ongoing issues in three primary areas: regulatory compliance, delay-related disputes, and failures in documentation submission.
In terms of regulatory compliance, there are instances where the builder was held accountable for non-adherence to required processes, leading to legal ramifications. The verdicts indicate a pattern where the builder faced penalties for failing to comply with critical regulatory requirements, such as submitting necessary project reports on time.
Delay-related disputes constitute another significant theme in these cases. Although the specifics of project delays are not detailed in the summary, it is clear that there are recurring issues attributed to either the builder's actions or inactions, resulting in legal challenges. Common reasons for these disputes typically revolve around the builder's failure to meet project timelines or allegations of mismanagement of project schedules.
The failure to submit proper documentation, particularly the Quality Progress Report (QPR), has been a notable trigger for legal action against the builder. As highlighted in the cases, the builder's ignorance regarding their obligations led not only to legal disputes but also to financial penalties. The direct mention of a penalty for non-submission of QPRs indicates a significant concern regarding the builder's operational practices and adherence to standard reporting procedures.
The common reasons for the builder's losses in these cases center around insufficient adherence to legal and regulatory standards, failure to fulfill documentation requirements, and a general lack of accountability in project management. The patterns emerging from these disputes suggest that potential clients should exercise caution and thoroughly evaluate Prime Properties' compliance history and project management practices before engaging in any business relationship.
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 |
|---|---|---|---|---|---|---|---|
| Suo Motu Complaint … | Odisha | The case was initiated against the respondent-pro… | ["Non-filing of QPR… | {"appellant_claim": "", "respondent_claim": "Due … | Prime Properties | https://rera.odisha.gov.in/wp-content/uploads/2024/05/151-OF-2024.pdf |