TIKNAR HOMES PRIVATE LIMITED

Overview of Tiknar Homes Private Limited

Tiknar Homes Private Limited is a builder based in the beautiful state of Kerala, known for its picturesque landscapes and vibrant culture. While the company has undertaken projects in this region, it faces significant scrutiny based on its legal history. This blog will delve into the complaints against Tiknar Homes, the outcomes of legal cases, and essential insights for potential buyers.

Legal Background: Complaints and Case Outcomes

Tiknar Homes Private Limited has been involved in two legal complaints, both of which the company lost. Below is a summary of the cases that were filed:

1. Case 1: The complainants claimed that Tiknar Homes failed to complete the residential apartment within the stipulated time and sought a refund of the amount paid. Tiknar Homes contended that the delay was due to unforeseen circumstances, requesting additional time to complete the project.
   • Final Verdict: The authority mandated Tiknar Homes to return the amount paid by the complainants, along with simple interest at 16.85% per annum from the date of receipt of each payment until full realization.
2. Case 2: This case echoed the first, with similar claims from the complainants regarding delays in project completion and the demand for a refund. The builder reiterated its excuse of unforeseen circumstances affecting the project timeline.
   • Final Verdict: Again, the authority ruled in favor of the complainants, ordering the builder to refund the payments along with applicable interest.

Patterns in the Legal Cases

Common Factors in Lost Cases:

• Failure to Complete on Time: In both cases, the fundamental issue was the builder's inability to complete the residential apartments as per the agreed timeline.
• Refund Claims: The complainants consistently sought refunds, highlighting dissatisfaction with project progress and completion.
• Repetitive Defense: Tiknar Homes maintained a similar defense in both instances, citing unforeseen circumstances, which did not sway the authorities.

Common Factors in Won Cases:

• It’s essential to note that Tiknar Homes did not win any cases. Instead, the outcomes were unfavorable, with both claims successfully resolved in favor of the complainants.

Conclusion: Assessment of Tiknar Homes Private Limited

Based on the provided data, Tiknar Homes Private Limited has faced notable challenges in fulfilling its commitments to clients, resulting in legal complaints that have not ended favorably for the builder. With both cases lost, potential buyers should approach with caution when considering investments with this builder.

Tips for Potential Buyers:

1. Research Thoroughly: Look into the builder's history, including any legal disputes and how they were resolved.
2. Evaluate Financial Stability: Understand how the builder plans to manage the project timeline and any potential delays.
3. Verify Project Timelines: Always ask for clear timelines and consequences if those deadlines are not met.
4. Seek Local Insights: Consult with previous buyers or local residents about their experiences with Tiknar Homes.

General Tips for Selecting a Builder:

• Check Credentials: Ensure the builder is licensed and has a good standing in the industry.
• Review Contracts Thoroughly: Understand every clause before signing anything; seek legal advice if necessary.
• Ask for References: Speak to former clients about their experience to gauge reliability.
• Inspect Completed Projects: If possible, visit other completed projects to see quality firsthand.

A careful selection process can mitigate risks in property investments. While Tiknar Homes Private Limited has faced hurdles, informed buyers can make better decisions by considering these factors.

Analysis of the cases filed against Tiknar Homes Private Limited, where the builder lost, reveals significant insights into the common disputes faced by the builder. The cases highlight two recurring themes: Delayed Possession Claims and Refund Disputes Due to Unforeseen Circumstances.

The Delayed Possession Claims theme encompasses the majority of the cases, wherein the complainants alleged that the builder failed to complete their residential apartments within the agreed-upon timeframe. This theme is characterized by the common claim among buyers seeking refunds due to the builder’s inability to deliver properties as promised. The builder consistently attributed these delays to unforeseen circumstances; however, the authority did not accept this defense and ultimately directed the builder to refund the amounts paid, including interest.

The reasons prompting buyers to take legal action against Tiknar Homes primarily revolved around their inability to obtain timely possession of their properties and the builder's failure to meet contractual obligations. A pattern emerges wherein the builder’s repeated attribution of delays to unforeseen circumstances was not validated by the governing authority, leading to a series of legal losses.

The common factor underlying the builder's losses in these cases was their inability to convince the authority that the delays were genuinely caused by unforeseen circumstances. The decision-making body may have found the builder's evidence insufficient or determined that they failed to comply with established regulations governing real estate development. Whatever the specific reason, the outcome highlights a significant shortcoming in the builder’s operational practices and adherence to timelines, resulting in financial repercussions and a tarnished reputation with its clients.