SHRI YOGI STOCKBUILD POWER PRIVATE LIMITED

Introduction

In the ever-changing landscape of real estate development, it is crucial for prospective buyers to conduct thorough research before committing to a purchase. This blog post provides an in-depth look at Shri Yogi Stockbuild Power Private Limited, a builder currently operating in Gujarat. With insights drawn from legal complaints and case outcomes, we aim to equip potential buyers with all the necessary information.

Overview of the Builder

Shri Yogi Stockbuild Power Private Limited operates primarily within Gujarat. However, the company’s record shows a concerning legal history that potential buyers should consider. The builder has received 1 complaint, and the results of their legal encounters warrant further examination.

Legal Case Overview

The builder has been involved in 1 legal case, which they lost. Here are the details of the case:

• Appellant Claim: The promoter of Shri Yogi Stockbuild Power Private Limited asserted they had completed the project ahead of schedule but failed to submit the required final report to the Real Estate Regulatory Authority (RERA) website.
• Respondent Claim: RERA authorities contended that the promoter violated the provisions of the RERA Act by not adhering to the submission timeline for the final report.
• Final Verdict: As a result of these violations, the builder was penalized with a fine of Rs. 55,000.

Patterns in Legal Misconduct

From the legal case analyzed, a clear pattern emerges. The violation stemmed from a failure to comply with regulatory requirements—specifically, not submitting documentation as mandated by RERA. The absence of a successful defense indicates a lack of preventative measures or compliance verification within the company.

Common Factors in Cases Lost:

• Inability to comply with regulatory timelines.
• Issues concerning documentation and reporting related to project completion.

Absence of Winning Cases

Given that the builder has no cases won, this raises red flags regarding their legal practices and operational integrity. There is a notable absence of positive outcomes that can lend credibility to the builder's claims, making them a less favorable option for buyers who value reliability and legal soundness.

Overall Assessment

Based on the limited data available, Shri Yogi Stockbuild Power Private Limited appears to have a single instance of legal trouble, which they did not overcome successfully. This suggests potential risks for buyers in terms of compliance and reliability. The sole complaint coupled with the legal loss indicates that buyers should exercise caution before entering into any agreements with this developer.

Tips for Potential Buyers

Here are some tailored suggestions for potential buyers considering a purchase from Shri Yogi Stockbuild Power Private Limited:

1. Investigate Thoroughly: Look into the builder’s history, project completion timelines, and legal standing. Verify any claims made about project completion with independent sources.
2. Consult Local Authorities: Always check with local real estate regulatory bodies to confirm compliance history and any registered complaints against the builder.
3. Seek Legal Advice: Before entering any contract, it may be beneficial to consult with a real estate attorney to ensure that all terms are favorable and that your rights are protected.
4. Request References: Speak to previous buyers about their experiences. This can provide insights that official documents may not reveal.

General Tips for Selecting Any Builder

Regardless of which builder you choose, here are some general tips to ensure a successful purchase:

• Assess Previous Projects: Examine previous developments by the builder. Look for customer reviews regarding quality, compliance, and service.
• Review Legal Compliance: Confirm that the builder follows all local regulations and has the necessary permits for their projects.
• Check Financial Stability: Research the financial health of the builder to ensure they can complete projects without unforeseen delays or budget overruns.
• Understand the Warranty: Familiarize yourself with the warranty and post-sale support services, ensuring you have protection against future issues.

Conclusion

While Shri Yogi Stockbuild Power Private Limited shows promise as a regional builder in Gujarat, the lone complaint and subsequent legal loss suggest potential buyers should proceed with caution. By conducting thorough due diligence and following the outlined tips, individuals can safeguard their investments and make informed decisions in the real estate market.

The analysis of the cases filed by the builder, Shri Yogi Stockbuild Power Private Limited, which were lost, reveals several critical insights into the builder's business practices and the resultant legal disputes.

At the forefront, the cases can be grouped under two primary themes: Regulatory Non-compliance and Penalties for Project Delays.

• Regulatory Non-compliance: The builder's cases frequently surrounded issues of non-compliance with the Real Estate (Regulation and Development) Act (RERA). In particular, a significant case highlighted the failure to submit a final report on the RERA web portal, which is essential for reporting project status and ensuring transparency. Such neglect in following regulatory requirements indicates a broader pattern of oversight that significantly jeopardizes the builder's credibility and legal standing.
• Penalties for Project Delays: Relatedly, there were claims concerning the supposed completion of projects before scheduled deadlines. However, this assertion was sharply contradicted by regulatory bodies that pointed to the builder's failure to meet compliance deadlines, leading to imposed penalties. In one case, a penalty of Rs. 55,000 was levied against the builder due to these violations.

The builder typically brought these cases to court to contest impositions of penalties and project delays attributed to other parties. A common thread emerges: disputes often stem from a lack of alignment with regulatory frameworks and an inability to substantiate claims in the face of established requirements.

The reasons for the builder's losses in these cases suggest a pattern of insufficient evidence and an evident disregard for established legal protocols. For instance, the builder's lack of crucial documentation, like the final report, highlighted a critical misstep that led to regulatory penalties. Additionally, there appeared to be misunderstandings regarding project classification and completion timelines—a width of common misconceptions that may further complicate legal standings.

In summary, potential buyers should tread carefully when considering partnerships with builders like Shri Yogi Stockbuild Power Private Limited. Frequent non-compliance with regulations and a history of penalties suggest systemic issues that could affect project delivery and overall reliability. As always, due diligence is key to safeguarding investments in the real estate market.

This dictionary organizes the information into key themes and provides a detailed summary, aiding potential buyers in understanding the implications of the builder's legal challenges.