SHIVALIK PARAM STRUCTURE LLP

Overview of Shivalik Param Structure LLP

Shivalik Param Structure LLP stands out in the real estate market in Gujarat, but like any builder, it comes with its share of successes and challenges. This blog will delve into the builder's legal background, analyze patterns in their cases, and provide essential tips for potential buyers considering a purchase.

Legal Background

Shivalik Param Structure LLP has encountered a notable legal challenge that highlights issues regarding compliance with the Real Estate Regulatory Authority (RERA) Act. The builder has one recorded complaint, which resulted in a loss for them, indicating concerns about their operational practices.

Case Details

• Case Filed Against: The Gujarat Real Estate Regulatory Authority claimed that Shivalik Param Structure LLP violated provisions of the RERA Act by selling and booking units without obtaining the necessary registration.
• Builder's Defense: The builder contended that they had adhered to the provisions of the RERA Act and that the sales were conducted according to the original plan.
• Outcome: The ruling was not in favor of the builder. A fine of Rs. 10,00,000 was imposed for the violation.

Analysis of Legal Cases

Common Factors in Cases Lost

The only recorded case against Shivalik Param Structure LLP resulted in a loss. The primary issue was the alleged violation of RERA guidelines concerning property registration. This highlights a critical factor: compliance with regulatory requirements is paramount in real estate transactions. The builder's failure to secure proper registration before selling units contributed to the adverse ruling.

Common Factors in Cases Won

Interestingly, while Shivalik Param Structure LLP has not won any cases, it shows a steadfast commitment to maintaining that they operate as per the original project plans. The lack of prior cases won further indicates that the company may frequently find itself at odds with regulatory authorities.

Conclusion

Based on the scant yet significant legal information available, Shivalik Param Structure LLP presents potential buyers with cautionary tales surrounding regulatory compliance. The single complaint resulting in a loss raises red flags regarding the builder's adherence to established real estate laws.

Recommendations for Potential Buyers

• Do Your Homework: Potential buyers should thoroughly research the builder's legal history and current standing. Understanding any past complaints can provide clarity on possible future risks.
• Verify Compliance: Ensure that all necessary registrations and approvals are in place before entering any agreements. Request documentation proving the builder's compliance with RERA and other regulatory bodies.
• Consult Industry Professionals: Engage with real estate professionals, such as lawyers or agents, who can provide insights into the builder's reputation and track record.

General Tips for Selecting a Builder

• Reputation Matters: Look for builders with a strong reputation and positive feedback from previous customers. Online reviews and testimonials can be helpful.
• Quality Assurance: Investigate the materials and construction methods used by the builder. Quality construction should be a non-negotiable aspect of your investment.
• Transparency in Transactions: Choose builders who exhibit transparency regarding pricing, terms of sale, and timelines for project completion.

In summary, while Shivalik Param Structure LLP may have promising projects in Gujarat, prospective buyers should exercise due diligence and proceed with caution.

Analysis of the cases filed against Shivalik Param Structure LLP, where the builder lost, reveals several key themes and patterns. The cases primarily revolve around two critical issues: non-compliance with the Real Estate Regulatory Authority (RERA) Act and penalties incurred due to premature sales and bookings of units.

The first theme, non-compliance with RERA, highlights the importance of adhering to regulatory standards in real estate development. In the sole case summarized, the Gujarat Real Estate Regulatory Authority claimed that the builder had violated the RERA Act by selling and booking units before obtaining the necessary registration. This indicates a troubling trend where builders may prioritize profit over compliance, potentially jeopardizing the interests of homebuyers.

The second theme revolves around penalties for premature sales and bookings, which is closely tied to the first theme. Builders found in violation of the RERA Act often face significant fines, as seen in the imposition of a Rs. 10,00,000 fine on Shivalik Param Structure LLP. These penalties serve as a deterrent to prevent builders from bypassing legal requirements and underscore the risks buyers face when engaging with non-compliant builders.

Common reasons for litigation in these cases include contesting the aforementioned penalties and disputes over the builder's adherence to the RERA Act. Homebuyers and authorities may also disagree on the interpretation of the Act or the builder's obligations, leading to further legal action.

The builder’s losses in these cases primarily stem from their failure to comply with the RERA Act, which demonstrates a lack of due diligence and legal foresight. Insufficient evidence to support their claims of adherence to the Act and the original plans for unit sales likely contributed to the unfavorable outcomes.

In conclusion, the analysis of Shivalik Param Structure LLP's legal troubles presents a vivid picture of the challenges and risks present in the real estate market, particularly for buyers considering properties from builders with a history of litigation and non-compliance. It is crucial for prospective homebuyers to conduct thorough research, assess a builder's reputation, and evaluate their compliance with relevant laws before making a purchase.