SHRIRAM SUMMITT

Introduction

In the realm of real estate, the reputation of a builder often hinges on the experiences of homebuyers and their interactions with the builder. Today, we delve into Shriram Summitt, a builder operating primarily in Karnataka, analyzing the complaints filed against them and the outcomes of legal cases.

Complaints Overview

With a total of 3 complaints lodged against Shriram Summitt, the builder has faced challenges in meeting customer expectations. Notably, they have lost all 3 cases, indicating a troubling trend in their legal standings.

Legal Case Details

The cases against Shriram Summitt primarily revolved around issues of delays in project completion. Here’s a breakdown of the claims made by the complainants:

1. Delay in Completion:
   Each of the complaints was centered on projects that were delayed beyond the mutually agreed completion date of December 31, 2019. The complainants sought delay period interest due to the prolonged wait for their respective apartments.
2. Builder’s Defense:
   In each instance, Shriram Summitt attributed the delays to force majeure events, notably the COVID-19 pandemic and other routine compliance issues related to construction.
3. Verdict Outcomes:
   The outcomes revealed a clear pattern: in each case, the authority ruled in favor of the complainants. The builder was ordered to pay interest on the delay periods, underscoring a failure in adherence to the contractual timelines. Notably, in one instance, the interest was calculated at 5.81% MCLR + 2.

Patterns and Analysis

Cases Lost

• All cases lost by Shriram Summitt shared a common theme: delays in project delivery that prompted homeowners to seek compensation for delays. The legal findings reflected a lack of satisfactory justifications from the builder for these delays, thereby tilting the verdict against them.

Cases Won

• Although the builder has not won any cases, it is crucial to note that they were able to partially argue for some concessions in their defense, attempting to attribute the delays to external factors. However, given their track record, these arguments did not hold up effectively in the eyes of the law.

Conclusion

Overall, Shriram Summitt's performance in the legal landscape raises concerns for potential buyers. With a clear history of losing every case related to project delays, prospective homeowners should exercise caution and due diligence before entering into agreements.

Tips for Potential Buyers

1. Research Thoroughly: Look into the builder's track record, including past complaints and legal outcomes. Understanding the builder’s reputation in terms of timely project completion is vital.
2. Ask for References: Speak to previous buyers to gain insights into their experiences with the builder. This can help gauge reliability.
3. Review Contracts Carefully: Ensure you understand the terms, especially regarding completion timelines and penalties for delays.
4. Stay Updated on Projects: Given the delays experienced, regularly check on project progress if you choose to proceed with Shriram Summitt.

General Tips for Selecting Any Builder

• Check for Licensing and Registrations: Ensure the builder is registered and has proper licenses to operate in your area.
• Analyze Financial Stability: A financially stable builder is less likely to face project delays due to cash flow problems.
• Read Reviews and Ratings: Use platforms that let you read reviews from homebuyers about their experiences with various builders.

By following these guidelines, prospective buyers can help safeguard their investments and ensure a positive home buying experience.