SHREE VARDHMAN INFRAHOME PRIVATE LIMITED

Introduction

When it comes to selecting a builder for your new home, understanding their track record can provide invaluable insights into their reliability and professionalism. In this blog post, we will delve into the history of SHREE VARDHMAN INFRAHOME PRIVATE LIMITED, including their legal cases and overall reputation, to help potential buyers make an informed decision.

Legal Overview of SHREE VARDHMAN INFRAHOME PRIVATE LIMITED

SHREE VARDHMAN INFRAHOME PRIVATE LIMITED has faced a total of 1 complaint, which culminated in 1 case that was ultimately lost. This indicates a somewhat negative aspect of their operational record. The case involved the builder's failure to deliver possession of a flat within the stipulated time and additional charges for common areas, which were disputed by the complainant.

Details of the Case

In reviewing the case that was lost, the following points can be summarized:

• Complainant’s Claims: The complainant asserted that the builder had not only failed to deliver the property on time but had also neglected to pay interest on the amounts already paid. Furthermore, there were claims of excess charges for common areas.
• Builder’s Response: The builder defended their position by citing unforeseen circumstances as the reason for the delay in possession and justified the common area charges as being in accordance with the agreement.
• Verdict: The ruling mandated the builder to pay delayed possession charges at an interest rate of 10.75% per annum from 14.11.2015 until possession was actually handed over. Additionally, they were instructed to settle the arrears of interest within 90 days of the order.

Analysis of Legal Patterns

Let’s explore patterns in the builder’s legal cases:

• Cases Lost: The loss of the case showcases a potential pattern of delays in possession. Buyers should be cautious about timelines provided by the builder and ensure that agreements are clearly worded regarding possession delivery and associated penalties for delays.
• Cases Won: Although the builder has not won any cases, their response in defending their actions highlights a possible tendency to attribute delays to external factors. This approach may need careful vetting by future buyers to make sure that timelines are realistically set and contingencies are effectively discussed.

Conclusion

Overall, SHREE VARDHMAN INFRAHOME PRIVATE LIMITED presents a mixed picture with one lost case and no victories in legal disputes. This information may be a red flag for potential buyers, emphasizing the importance of diligence and research before engaging in property transactions with them.

Tips for Potential Buyers

1. Thorough Research: Always conduct in-depth research about a builder’s background, looking up any past legal disputes or complaints.
2. Clear Contracts: Ensure that the agreement covers possession timelines and includes terms for penalties should the builder delay delivery.
3. Visit Previous Projects: If possible, visit previous projects completed by SHREE VARDHMAN INFRAHOME PRIVATE LIMITED to assess quality and ask current residents about their experiences.
4. Seek Legal Advice: Consider getting legal advice before signing any contracts, especially if there are any ambiguous clauses.

General Tips for Buyers When Selecting Any Builder

• Reputation Matters: Look for builders with a proven track record, favorable reviews, and successful past projects.
• Understand the Agreement: It is critical to read and understand all terms outlined in development agreements, including payment schedules, timelines, and clauses relating to fluctuations in costs.
• Consult Local Authorities: Engage with local real estate authorities for any complaints or reports concerning builders in your area.
• Stay Informed about Buyer Rights: Familiarize yourself with buyer rights to best protect your investment.

In summary, while SHREE VARDHMAN INFRAHOME PRIVATE LIMITED has potential, the legal history suggests caution for prospective buyers. Always ensure to do your homework and approach any real estate decision with careful consideration.