TREASURE INDIA COMPANY

Introduction

In the ever-evolving landscape of real estate, buyer awareness is vital for making informed decisions. Today, we delve into the operations and legal standing of the Treasure India Company, a builder primarily engaged in projects in Madhya Pradesh. This post will provide insights based on recent legal cases, offering potential buyers an understanding of what to expect from this builder.

Overview of Treasure India Company

Treasure India Company has had a modest track record, with one recorded complaint against them. The company was involved in one legal case, which they lost, resulting in the issuance of a refund to the complainant. The lack of positive outcomes in their legal engagements raises questions about their business practices and commitment to resolving disputes.

Legal Case Analysis

Case Details

In the sole case filed against Treasure India Company, the appellant, who had booked a plot in the 'Treasure Park' project, claimed that despite paying Rs. 2.67 lakh, the company failed to hand over the plot. The plot buyer sought a full refund. In their defense, the company argued that the applicant had not paid the complete amount required and was unwilling to settle the remaining balance.

The final verdict saw the authority directing Treasure India Company to refund the applicant after making a 20% deduction based on the agreement, resulting in the applicant receiving Rs. 2.2 lakh.

Patterns in Complaints and Legal Outcomes

• Cases Lost:
  • Treasure India Company lost one case related to the non-delivery of promised property. A clear pattern emerges wherein failure to comply with agreed terms has led to legal repercussions for the builder.
• Cases Won:
  • While the builder has not won any cases, it is notable that the authority directed a refund, indicating that issues related to payment terms and customer expectations could be prevalent. However, there are no instances of successful defenses by the company to dispute claims.

Conclusion

Considering the information at hand, potential buyers should exercise caution when dealing with Treasure India Company. Their single complaint and loss in court suggest a potential vulnerability in upholding their commitments.

Tips for Potential Buyers:

1. Thoroughly Research: Investigate the builder's history, customer reviews, and any pending litigation before making a decision.
2. Document Everything: Ensure all agreements are in writing and understand the payment terms clearly to avoid future disputes.
3. Seek Legal Guidance: Consider consulting with a legal expert who specializes in real estate transactions to review contracts before signing.
4. Potential Red Flags: Be wary of builders with complaints that lack satisfactory resolutions or have lost legal cases.

General Tips for Selecting Any Builder:

• Check Licensing and Credentials: Ensure the builder is registered and licensed to operate in your state.
• Request References: Speak with previous customers to gauge their experiences and satisfaction levels.
• Assess Project Quality: Visit existing projects to evaluate construction quality and adherence to timelines.
• Evaluate Financial Practices: Understand how the builder manages their finances and handles payments to reduce personal risk.

In conclusion, potential buyers must stay informed and vigilant when considering investments in real estate, particularly with builders like Treasure India Company.

Analysis of the cases filed against Treasure India Company, where the builder lost, reveals several key themes and patterns. The disputes primarily center around financial transactions and the obligations of the builder toward its clients, particularly in relation to their project 'Treasure Park.'

The cases highlight a common theme of Refund Disputes, where buyers claim that they were not provided with the promised property despite having made payments. In one notable case, a buyer sought a refund after the company failed to hand over a booked plot, demonstrating an inability or unwillingness on the part of the builder to fulfill contractual agreements.

Failure to Deliver Property is another significant topic, as it directly relates to the builder's primary responsibility: delivering what buyers pay for. The inability to meet this commitment appears to be a recurring issue for Treasure India Company, as evidenced by the legal actions taken against them. Buyers expect timely possession of their properties, and a failure to deliver serves as a strong foundation for legal disputes.

Payment Disputes also stand out, showing a strained relationship between the builder and buyers concerning financial aspects of their agreements. The builder often contests the amount paid, claiming that buyers have not fulfilled their payment obligations. However, the verdicts suggest that buyers' claims of overpayment or entitlement to refunds are often validated, indicating potential mismanagement or miscommunication by the builder regarding payment requirements and refunds.

Common reasons for bringing cases to court include the buyer's desire to obtain a refund due to the builder's failure to deliver property, and disputes over the amount of payment that buyers claim to have made. The builder's frequent assertion that buyers did not pay in full suggests a systemic issue with their payment tracking or communication practices, which could be a major trigger for litigation.

The builder lost these cases primarily due to their inability to honor their commitments. The ruling in the aforementioned case, which directed the builder to refund the payment after deducting a percentage as per the agreement, highlights a failure to adhere to the terms of sale and fulfill promises made to buyers. Overall, these patterns indicate a need for buyers to exercise caution when engaging with Treasure India Company.