S.M. PROPERTIES

Introduction

In the ever-evolving real estate market, choosing the right builder is pivotal. One builder that has attracted attention is S.M. Properties, operating in Tamil Nadu. In this blog post, we will delve into the builder's legal history, complaint record, and what potential buyers should consider before making a purchase.

Legal Background

S.M. Properties has received a total of 2 complaints, both of which resulted in losses for the builder. These cases provide significant insight into the challenges and issues that have arisen in their dealings.

Case Analysis

Both cases filed against S.M. Properties involved similar claims from the complainants:

• Appellant Claims: The complainants alleged that despite making full payments, the builder failed to register and hand over the plots in accordance with the agreement.
• Respondent Claims: The builder, in response, claimed they were willing to execute the sale deeds but required additional time to do so.
• Final Verdicts: In both instances, the TNRERA (Tamil Nadu Real Estate Regulatory Authority) directed S.M. Properties to execute the sale deeds in favor of the complainants within a set timeframe.

Patterns in Cases

Cases Lost

The common factor in both cases lost by S.M. Properties revolves around a failure to execute agreements promptly after receiving full payments. This pattern raises questions about the builder's operational efficiency and adherence to timelines, which are critical in real estate transactions.

Cases Won

Interestingly, while the builder has not won any cases, they did not face situations where they definitively established a defense strong enough to overturn the initial claims. Instead, they faced rulings that mandated they fulfill their obligations, suggesting a tendency to enter agreements without the capacity or commitment to uphold them consistently.

Conclusion

Overall, S.M. Properties has a concerning track record, having lost all legal cases they faced, and this could be worrying for potential buyers. Their legal challenges indicate a potential deficiency in commitment to completing transactions as promised, raising alarms about reliability and customer service.

Tips for Potential Buyers

1. Research Thoroughly: Given the builder’s legal history, it is crucial to research further and seek reviews from other clients who have dealt with S.M. Properties.
2. Request Documentation: Always ask for all documentation relating to your agreement; this should include timelines for completion and obligations of the builder.
3. Understand Your Rights: Familiarize yourself with your rights as a buyer under the Real Estate (Regulation and Development) Act to ensure you are adequately protected.

General Tips for Choosing a Builder

• Check Legal Compliance: Look for builders with a clean legal record and compliance with local regulations. It’s essential to ensure that they are recognized by the appropriate authorities.
• Evaluate Experience: Seek builders with a solid track record of completing projects on time and satisfactory customer service.
• Seek Recommendations: Word-of-mouth recommendations from friends or family can often lead to trustworthy builders.

With careful consideration and thorough research, potential buyers can safeguard their investments and ensure a smoother experience in the often challenging journey of home buying.

Analysis of the cases filed against S.M. Properties, where the builder lost, revealed significant insights into their dealings with clients. The cases primarily revolve around two common themes: Delayed Possession Claims and Failure to Execute Sale Deeds.

The majority of the claims made by the complainants fall under the category of Delayed Possession Claims. In these cases, the complainants alleged that despite having made full payment for their plots, S.M. Properties failed to register and hand over the property as per their agreement. This indicates a troubling pattern of behavior where clients are left waiting for their rightful ownership documents after completing their financial obligations.

The builder's defense consistently revolved around their claim of needing more time to execute the sale deeds. However, the Tamil Nadu Real Estate Regulatory Authority (TNRERA) did not accept this defense and directed S.M. Properties to take action within a specified timeframe in both cases. This raises questions regarding the builder's operational efficiency and adherence to timelines, as well as their compliance with the regulatory requirements imposed by the TNRERA.

The common trigger for these legal disputes appears to be the builder’s inability to fulfill their commitments, particularly concerning the timely registration and handover of properties. People brought cases to court primarily because they were frustrated with the delays and the builder’s failure to honor agreements.

S.M. Properties lost these cases largely due to their failure to meet contractual obligations and comply with regulatory standards. The TNRERA's verdicts highlight a need for the builder to streamline their processes, ensuring that clients receive their property documents without undue delay.