SRI HARI CORPORATION

Introduction

When considering a real estate investment, evaluating the reputation of the builder is crucial. In this post, we will examine the Sri Hari Corporation, a builder based in Gujarat, and explore their track record, especially concerning legal complaints and cases. With only one recorded complaint and a summary of their legal encounters, we aim to provide insights into what potential buyers can expect from this corporation.

Overview of Sri Hari Corporation

Sri Hari Corporation operates primarily in Gujarat and is facing minimal legal complaints, which can be seen as a positive indicator for potential buyers. However, a closer look at their legal record reveals an interesting case that warrants discussion.

Legal Cases Involved

Summary of Legal Case

Sri Hari Corporation has been involved in one notable legal case:

• Complaint Filed Against: The builder was accused of violating Section-3 of the RERA Act for selling 31 units before securing the necessary alteration registration.
• Response from the Builder: They acknowledged the violation.
• Final Verdict: The authority imposed a fine of ₹5,00,000 due to the violation.

Analysis

Patterns in Legal Cases

• Cases Lost: Consequently, the builder has a 100% loss rate concerning legal disputes. The nature of the single complaint indicates that the builder engaged in pre-registration sales, showing a clear lapse in compliance with established regulations. This reflects a potential pattern of oversight when it comes to adhering to legal requirements, which could signal risks for consumers.
• Cases Won: Interestingly, the builder has not won any cases, showcasing a concerning trend regarding their legal practices. The single case illustrates an admission of fault, which the authority recognized through a financial penalty. The admission suggests a lack of due diligence in regulatory compliance, which is essential for safeguarding consumer interests in real estate.

Conclusion

Sri Hari Corporation has a minimal complaint history; however, they have demonstrated legal issues pertaining to compliance with real estate regulations. For potential buyers, the fact that they have lost a significant legal case raises flags regarding the builder's operational standards and adherence to local laws.

Tips for Potential Buyers

1. Due Diligence: Always perform thorough research on the builder, including their legal history and compliance status with RERA regulations.
2. Legal Agreements: Ensure that all agreements are legally sound and protect your interests as a consumer.
3. Reviews and References: Seek feedback from other buyers who have purchased properties from the builder to gauge their experiences.

General Tips for Selecting a Builder

• Verify Credentials: Check the builder’s registration status with relevant housing authorities.
• Past Projects: Review and assess the quality of previously completed projects.
• Financial Transparency: Look for transparency in the pricing and official payment structure.
• Customer Service: Ensure the builder has a responsive customer service team for any inquiries or issues post-purchase.

In summary, buyers should proceed with caution when considering a property from Sri Hari Corporation, ensuring to undertake all necessary measures for protection and due diligence.

Analysis of the cases filed against Sri Hari Corporation, where the builder lost, revealed several key points across the spectrum of disputes encountered by the builder. The cases highlight two primary themes: non-compliance with the RERA Act and penalties incurred due to project alterations before obtaining the necessary registrations.

The first theme, non-compliance with the RERA Act, stands out in the cases where the builder admitted to selling units before acquiring the proper alteration registrations as mandated by Section-3 of the RERA Act. This indicates a systemic issue within the builder's operations, where financial motivations may have led to expedited sales processes without adequate regard for legal compliance. The imposition of a fine in this instance demonstrates the authority's commitment to enforcing the RERA Act and protecting the interests of homebuyers.

The common reason people brought cases to court in this scenario was primarily due to the builder's violation of statutory regulations. The builder’s actions could potentially have caused harm to the purchasers of those 31 units, as they might not have been fully informed or protected under the law without the required registrations in place.

The builder lost these cases predominantly due to their admitted non-compliance with the RERA Act. The acknowledgment of wrongdoing simplified the legal process, leading to a straightforward imposition of penalties. This highlights the importance for builders to understand and adhere to the regulatory framework surrounding real estate transactions in India to avoid legal repercussions and maintain the trust of their clients.