SHYAM INFRATECH

Introduction

In the realm of property development, choosing the right builder is a critical decision for any home buyer or investor. In this post, we delve into SHYAM INFRATECH, a builder operating primarily in Gujarat, to assess their performance through an examination of their legal history and provide insights for prospective buyers.

Builder Overview

Name: SHYAM INFRATECH
Number of Complaints: 1
Cases Won: 0
Cases Lost: 1
States with Projects: ['Gujarat']

Legal Case Details

SHYAM INFRATECH has been involved in a significant legal issue with the Gujarat Real Estate Regulatory Authority, which filed a complaint against seven promoters, including SHYAM INFRATECH, for failing to submit quarterly reports on their projects within the required timeframe. The findings revealed that the promoters, including SHYAM INFRATECH, had not adhered to the submission guidelines set forth by the authority, leading to penalties imposed under the RERA Act and Rules.

Outcomes of Cases

• Cases Filed Against the Builder Where the Builder Won: 1
• Cases Won: 0
• Cases Lost: 1
• The builder, along with other promoters, was found guilty of not complying with the necessary reporting requirements, highlighting issues with diligence and regulatory compliance.

Case Analysis

Patterns and Common Factors in Cases Lost

• Non-compliance with Regulations: The prominent pattern in the case lost by SHYAM INFRATECH is their inability to comply with mandated reporting requirements as prescribed by the RERA. This neglect unveiling a concerning trend of administrative oversight.

Patterns and Common Factors in Cases Won

• No Cases Won: Given that SHYAM INFRATECH has not won any cases, there are no patterns or common factors to analyze in successful outcomes. This raises concerns about the builder's operational practices and adherence to regulatory laws.

Conclusion

Based on the provided data, SHYAM INFRATECH’s legal history presents a cautionary tale for potential buyers. The builder has faced significant penalties due to non-compliance with essential regulatory requirements and has no record of winning cases. This situation indicates a potential risk for prospective investors who must weigh their options carefully.

Tips for Potential Buyers Considering SHYAM INFRATECH

1. Conduct Thorough Research: Investigate the builder's reputation, history of projects, and any legal issues they may have faced.
2. Request References: Seek out reviews or testimonials from previous buyers to gauge their experiences.
3. Stay Updated on Compliance: Ensure that the builder is compliant with all regulatory requirements and maintains transparency in operations.

General Tips for Buyers When Selecting Any Builder

• Verify Credentials: Always check the builder's registration with relevant regulatory authorities.
• Review Previous Work: Tour completed projects to assess the quality and design of the developments.
• Understand the Contract: Have a legal expert review the contract to ensure fairness and clarity in terms and conditions.

In conclusion, while SHYAM INFRATECH does operate in a significant market like Gujarat, caution is advised based on their legal track record. As with any major financial investment, due diligence is paramount.

Analysis of the cases filed against Shyam Infratech, where the builder lost, reveals several key themes across the complaints lodged against them. The cases primarily revolve around two critical issues: non-compliance with regulatory requirements and penalties imposed for delays in reporting project information.

The first theme, non-compliance with regulatory requirements, encompasses the builder's failure to adhere to the rules set forth by the Gujarat Real Estate Regulatory Authority (RERA). This includes the timely submission of quarterly reports, which is crucial for transparency and compliance in the real estate sector. The RERA web portal serves as a platform where builders are required to report their project statuses regularly, and Shyam Infratech faced penalties for not fulfilling this obligation, highlighting significant gaps in their regulatory compliance practices.

The second theme involves penalties for reporting delays. This is closely tied to the first theme, as the builder's failure to submit reports on time resulted in legal consequences. The RERA imposed penalties on Shyam Infratech after finding substantial evidence that the builder had not submitted the required reports within the stipulated timeframe. This raises questions regarding the builder's operational efficiency and their adherence to deadlines, both of which are critical in the fast-paced real estate industry.

Common reasons for the complaints filed against Shyam Infratech include the builder's contention that they had indeed submitted the necessary reports, while the authority found no evidence to support this claim. This points to a pattern of denial and misinformation, which is a concerning trend when dealing with legal and regulatory requirements. The builder's losses in these cases can be attributed to insufficient evidence supporting their claims, along with a clear failure to comply with the established regulations governing their operations.

In conclusion, the analysis of the cases against Shyam Infratech highlights the importance of regulatory compliance and timely reporting in the real estate sector. The penalties imposed serve as a reminder to builders about the legal implications of non-compliance and the potential risks they face when failing to meet their reporting obligations.