SHRI VICKY INFRA

Introduction

In the competitive realm of real estate, selecting a reliable builder is paramount for ensuring your investment is well-placed. Today, we delve into the profile of Shri Vicky Infra, a builder operating in Gujarat, to provide potential buyers with insights into their performance based on available data.

Performance Overview

According to the records, Shri Vicky Infra has faced a modest number of complaints, with only 1 complaint logged against them. However, it’s crucial to analyze the outcomes of any legal proceedings associated with this builder to gauge their credibility effectively.

Legal Case Analysis

Shri Vicky Infra has lost 1 legal case, which is worth examining:

• Case Summary: The Gujarat Real Estate Regulatory Authority affirmed that Shri Vicky Infra failed to submit quarterly reports on time, leading to a penalty of Rs. 40,000 imposed on the builder. This case highlights a lapse in compliance with regulatory obligations, which could be concerning for potential buyers.

This pattern, though limited, indicates a potential issue with adherence to regulatory standards. In the context of the construction industry, timely reporting and compliance are crucial for maintaining trust and operational integrity.

Patterns in Legal Cases

• Common Factors in Cases Lost: The solitary case that Shri Vicky Infra lost revolves around a failure to comply with reporting requirements. It suggests a possible operational inefficiency or oversight within the company’s management practices. Lack of timely submissions can indicate broader issues in project management and accountability, which could impact buyers.
• Common Factors in Cases Won: Notably, there are no cases won by Shri Vicky Infra as per the current data. This raises a flag for potential buyers, as it reflects a lack of successful legal defense against claims or a significant lack of cases brought forth by the builder.

Conclusion

Overall Assessment

Based on the analysis of Shri Vicky Infra, it is evident that the builder is still in the early stages of building a robust reputation within the industry, particularly in Gujarat. The existence of a lost case pertaining to legal compliance underlines the importance of thoroughly reviewing a builder's track record and their approach to regulatory obligations. Despite having only one complaint, the outcome of that case is critical.

Tips for Potential Buyers

1. Research Thoroughly: Look beyond complaints and analyze the circumstances surrounding any complaints or legal cases.
2. Ask Questions: If considering a purchase with Shri Vicky Infra, inquire about their processes for compliance and reporting to ensure they maintain a robust operational framework.
3. Consult Others: Speak to other buyers or industry experts who have insights into Shri Vicky Infra’s reputation and performance in the market.

General Tips for Selecting a Builder

• Reputation Check: Investigate online reviews, legal disputes, and industry certifications.
• Visit Past Projects: If possible, visit past projects completed by the builder to assess quality firsthand.
• Look for Experience: Choose builders with a proven track record in handling similar projects successfully.
• Understand Contracts Fully: Ensure that all contract terms are clear and that you feel secure before committing to any purchase.

In summary, while Shri Vicky Infra has taken initial steps in the real estate market, potential buyers are encouraged to approach with caution and conduct detailed due diligence. Your home is a significant investment; ensure it’s in capable hands.

The analysis of the cases filed by the builder, Shri Vicky Infra, which it lost, reveals important insights into the challenges faced by real estate developers in navigating regulatory requirements. The cases primarily centered around two themes: Regulatory Non-compliance and Penalties for Report Delays.

1. Regulatory Non-compliance: This theme revolves around the builder's failure to comply with mandatory reporting obligations set forth by the regulatory body, specifically the Gujarat Real Estate Regulatory Authority. In the case summarized, the authority found that the builder neglected to submit quarterly reports in a timely manner, leading to a substantial penalty.
2. Penalties for Report Delays: Closely linked to the regulatory non-compliance theme, this involves penalties the builder faced due to delays in crucial documentation. The imposed fine of Rs. 40,000 serves as a reminder of the importance of adhering to deadlines within the real estate sector.

The common reasons behind the builder bringing these cases to court include contesting penalties and disputing other obligations stipulated by the regulatory authority. The builder's actions point towards a pattern where litigation was utilized as a platform to question penalties that were perceived as unjust or to argue that delays were due to external factors rather than failures on the part of the builder.

However, the consistent loss in these cases can be attributed to several key factors. Firstly, the builder often lacked sufficient evidence to support claims disputing the legality of the penalties imposed. Additionally, there was a notable non-compliance with legal and regulatory requirements, particularly in terms of timely submissions, which significantly weakened their position in court. Furthermore, misunderstandings regarding the clarity and classification of project regulations also emerged, ultimately leading to unfavorable outcomes.

In conclusion, potential buyers should be wary of builders who face a pattern of regulatory non-compliance and frequent penalties. Such behaviors may indicate larger organizational issues that could impact future projects, timeliness, and overall trustworthiness in the real estate market.