| CIN | Not Available |
|---|---|
| Year Established | Not Available |
| Address | Not Available |
| Company Status | Not Available |
Overall Case Outcomes
Introduction
In the competitive landscape of real estate, understanding a builder's reputation is crucial for prospective buyers. Prosperity Builders, operating in Gujarat, has garnered attention due to their legal history. This blog explores their legal encounters and provides insights for potential buyers considering investing with them.
Legal Case Overview
Complaints and Resolutions
Prosperity Builders has faced a minimal number of complaints, totaling only one. They successfully defended their position in this particular case, which speaks to their ability to respond effectively to legal challenges.
Case Details
Case Filed Against Prosperity Builders:- Case Summary: The appellant, Samruddhi Builders, accused Prosperity Builders of violating Section 13(1) of the Real Estate (Regulation and Development) Act, 2016. This section prohibits builders from accepting over 10% of the sale proceeds from allottees without a registered agreement。
- Respondent's Claim: Prosperity Builders argued that any violation was unintentional and provided explanations that they believed were justifiable.
- Final …
Cases Won by Builder (When Defending)
Yearly Trend for these Cases
Common Topics
An analysis of the cases filed against the builder, Prosperity Builders, which the builder won, revealed the following information. These cases primarily revolve around claims of regulatory non-compliance and financial transaction disputes, highlighting the challenges that builders may face in the competitive real estate market.
The cases can be categorized into two main themes:
- Regulatory Non-compliance: This theme encompasses disputes relating to the Real Estate (Regulation and Development) Act, 2016. Claims of regulatory violations, such as accepting sale proceeds without a registered agreement, suggest a conflict between builder practices and regulatory frameworks. This indicates a need for builders to remain vigilant and compliant with the legal standards, ensuring that all transactions are well-documented and legitimate.
- Financial Transaction Disputes: Financial disputes often arise when buyers challenge the adequacy of transaction processes. In the case filed by Samruddhi Builders, the claim centered on the builder's acceptances exceeding the allowable limit …
Individual case details available for subscribers.
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