SHRI EMERALD FORTUNE REALTY

Overview of Shri Emerald Fortune Realty

Shri Emerald Fortune Realty is a real estate builder operating predominantly in Gujarat. As potential buyers consider their options, it is crucial to understand the builder's track record, especially regarding legal issues. This blog post delves into the builder's history of complaints and legal cases to provide a clearer picture for prospective clients.

Legal Case Summary

Shri Emerald Fortune Realty has encountered one recorded complaint, which they lost. Here’s a breakdown of the case details:

1. Complaint Nature: The complaint was filed against the builder for failing to submit the final report on time for their project known as 'Silver Fortune'. This alleged failure was stated to be a violation of the Real Estate (Regulation and Development) Act (RERA).
2. Builder's Defense: The builder claimed that they had applied for a project extension and had received a new completion date of June 30, 2022.
3. Verdict: The authority ruled in favor of the appellant, finding the builder guilty of not submitting the final report on schedule. Consequently, the case was disposed of, granting the builder permission to dismiss the case after receiving the project extension.

Patterns and Common Factors in Cases

Cases Lost

• Compliance Issues: The main reason for the case lost by Shri Emerald Fortune Realty is non-compliance with submission timelines, highlighting a critical area of concern regarding their project management.
• Judgment Against Builder: In this instance, the builder did not successfully argue their case in defending against the complaint, indicating potential gaps in their operational procedures and communication.

Cases Won

• Project Extensions: The builder was able to defend themselves in another case by obtaining project extensions, showcasing their proactive approach to managing project deadlines when they are unable to meet original timelines. However, they still face implications if they do not adhere to these new deadlines.

Conclusion: An Assessment of Shri Emerald Fortune Realty

Assessing the available information, it is evident that Shri Emerald Fortune Realty has faced challenges, particularly in complying with regulations set forth by the RERA Act. Although they have been able to secure project extensions, this does not mitigate the impact of their legal loss, which reflects an area of risk for potential buyers.

1. Research Comprehensive Feedback: Look into customer reviews and any additional complaints or cases beyond the provided data.
2. Request Detailed Timelines: Ensure that the builder provides clear timelines and project plans, along with evidence of their adherence to these plans.
3. Seek Legal Transparency: Confirm the builder's ongoing compliance with RERA and request copies of any legal documentation related to their projects.

• Check Credentials: Always verify the builder's credentials and their standing with regulatory authorities.
• Evaluate Past Projects: Visit previous projects completed by the builder to assess the quality of work and timelines.
• Be Clear on Terms: Make sure to have a clear understanding of the terms and conditions associated with your purchase, including warranties and customer service policies.

By taking these considerations into account, potential buyers can make more informed decisions when choosing a builder like Shri Emerald Fortune Realty.

Analysis of the cases filed against Shri Emerald Fortune Realty, where the builder lost, revealed several key themes across their legal disputes. The cases primarily revolved around three critical issues: delayed possession claims, non-compliance with the RERA Act, and delays associated with project extensions.

The delayed possession claims often arose from the builder's inability to complete projects on time, which is a recurring concern in the real estate sector. Buyers expect timely possession of their properties, and when developers fail to meet these expectations, it typically leads to legal action. In the case of Shri Emerald Fortune Realty, the delayed project named 'Silver Fortune' prompted the appellant to claim a violation of the RERA Act due to the late submission of the final project report.

Non-compliance with the RERA Act was a central theme in the verdict against the builder. Despite their claim of receiving a project extension until 30/06/2022, the authority ruled that the final report should have been submitted on time. This pattern indicates a common trigger for litigation in the real estate field, where builders often face penalties for failing to adhere to regulatory requirements.

People commonly bring cases against builders for several reasons: contesting penalties imposed for delays, disputing project delays attributed to other parties, and disagreements over land or project classification. For Shri Emerald Fortune Realty, the primary reason for the legal action was the builder's failure to meet the required timelines, which raised concerns about their compliance with the RERA Act.

The builder lost these cases primarily due to insufficient evidence supporting their claims of compliance and timely management of project extensions. Furthermore, the ruling highlighted a misunderstanding of their obligations under the RERA Act, which emphasizes the importance of maintaining transparent records and adhering to project timelines.