SHRI OM ASSOCIATE

When selecting a builder for your dream home or investment property, due diligence is crucial. Today, we delve into the performance of Shri Om Associate, a builder operating in Gujarat, to help prospective buyers make informed decisions.

Overview of Shri Om Associate

Shri Om Associate has managed to establish a presence in the Gujarat real estate market. However, their track record indicates some challenges. With one documented complaint filed against them, the builder has faced scrutiny regarding their compliance with real estate regulations.

Legal Case Insights

The sole legal case recorded against Shri Om Associate involved the Gujarat Real Estate Regulatory Authority (REGRA). The key facts of the case include:

• Nature of the Complaint: The builder was accused of failing to submit quarterly reports for their registered project, a requirement mandated by the RERA Act.
• Outcome: The regulatory authority found Shri Om Associate in violation, resulting in a fine of ₹40,000. This penalty necessitated personal payment from the builder, highlighting the severity of the oversight.

Analysis of Legal Trends

Common Patterns in Lost Cases

Given that Shri Om Associate has only lost one case, we can derive specific takeaways:

• Regulatory Compliance Issues: The loss stemmed from a failure to adhere to the compliance requirements of the RERA Act, indicating a potential pattern of oversight in project documentation and accountability.
• Impact of Non-Compliance: The imposition of a fine reflects the importance of maintaining proper project documentation. Such lapses can severely affect a builder's reputation and operational integrity.

Patterns in Won Cases

Since there are no won cases indicated for Shri Om Associate, this raises questions regarding their legal standing and ability to navigate regulatory challenges. Therefore, buyers should proceed with caution.

Conclusion: Assessing Shri Om Associate

The data suggests that while Shri Om Associate is active in the Gujarat market, their recent legal history raises red flags about their commitment to compliance and project management. Prospective buyers should be wary of their practices, especially considering the ramifications of the sole case lost against them.

Tips for Potential Buyers

1. Verify Compliance History: Ensure that the builder has a clean compliance record with no ongoing disputes.
2. Conduct Thorough Research: Look for reviews or feedback from past customers to gauge the builder's reliability.
3. Ask About Documentation: Inquire about their process for submitting quarterly reports and compliance documentation. Transparency is key.
4. Consult Legal Experts: Before making any financial commitments, consulting with a real estate lawyer can safeguard your interests.

General Tips for Selecting Any Builder

• Check Certifications and Licenses: Ensure that the builder possesses the necessary certifications and is registered with relevant authorities.
• Review Previous Projects: Inspecting their past work can provide insight into their quality and reliability.
• Understand Payment Structures: Clear communication about payment schedules and project timelines is essential.
• Visit Ongoing Projects: If possible, visiting current developments can provide firsthand insights into the builder's processes.

In summary, while Shri Om Associate may offer potential options within the Gujarat realty landscape, their legal challenges necessitate thorough scrutiny from potential buyers. By approaching your purchase with caution and proactive research, you can enhance your chances of making a sound investment.

The analysis of the cases filed by the builder, Shri Om Associate, which it lost revealed significant insights into the challenges and patterns surrounding their legal disputes.

One common theme emerging from these cases is Regulatory Non-compliance. This was prominently illustrated in the case involving accusations of not submitting quarterly reports on a registered project. The builder's failure to meet regulatory requirements not only led to a loss in court but also resulted in financial penalties imposed by the Gujarat Real Estate Regulatory Authority.

Another theme is the Penalties for Failure to Meet Requirements. In this instance, the builder faced a fine for not adhering to the provisions outlined in the Real Estate (Regulation and Development) Act (RERA). Such cases indicate that the builder frequently engaged in disputes related to regulatory compliance, ultimately demonstrating a lack of diligence in fulfilling their obligations.

The reasons behind these legal actions taken by the builder commonly include contesting penalties imposed by regulatory bodies and disputing their compliance with the stipulated laws. It appears that there may be a pattern of the builder misunderstanding or mismanaging the regulatory landscape, leading them to believe that defenses against imposition of fines could possibly be successful in court.

However, the builder often lost these cases due to specific reasons. The most prominent of these is insufficient evidence to support their claims. Additionally, their non-compliance with legal requirements was a recurring theme, as was their failure to adequately follow interim directions from authorities. Misunderstandings surrounding the classification of projects and adherence to reporting requirements further compounded their legal troubles.

In summary, the cases reveal that Shri Om Associate may benefit from a closer examination and compliance with regulatory standards, as well as better understanding and management of their legal obligations to avoid future disputes and losses.

This structured dictionary presents a clear overview of the case summaries in a way that could help potential buyers understand the implications of the builder's legal history and avoid potential pitfalls in future transactions.