VENKATESWARA INFRAPROJECTS PRIVATE LIMITED
- No of Complaints: 1
- States (Active in): Karnataka
| CIN | U45400AP2011PTC076752 |
|---|---|
| Year Established | 29 September 2011 |
| Address | DR. NO: - 49-54-7/4, AJITHA APARTMENTS, B.S. LAYOUT, SEETHAMMADHARA ROAD , VISAKHAPATNAM, Andhra Pradesh, India - 530013 |
| Company Status | Private |
Introduction
In the bustling real estate market of Karnataka, one builder that has come under scrutiny is Venkateswara Infraprojects Private Limited. While the company has successfully managed a variety of projects, it's imperative for potential buyers to consider the builder's legal track record before making any purchasing decisions. This article delves into Venkateswara Infraprojects' legal disputes, assessing its performance and providing crucial tips for buyers.
Overview of Legal Cases
A singular legal dispute has been reported involving Venkateswara Infraprojects. In this case, the builder lost against the complainant, who sought a refund along with repayment of an outstanding loan totaling Rs. 39.39 lakhs. The builder, on the other hand, contended that the agreement was cancelled by the complainant, negating any entitlement to the refund. Ultimately, the legal authority directed Venkateswara Infraprojects to pay Rs. 26.13 lakhs with interest to the complainant.
Analysis of Legal Patterns
Cases Lost
The sole case lost by Venkateswara Infraprojects sheds light on significant patterns that potential buyers should consider:
- Dispute Over Agreements: This case highlights disputes about agreement cancellations, which may indicate potential communication issues or misunderstandings with customers.
- Financial Entitlement Claims: The loss also points towards a situation where buyers were left entitled to refunds, suggesting that buyers should be clear on the terms of cancellation and refunds with this builder.
Cases Won
Interestingly, the data available suggests that Venkateswara Infraprojects hasn't won any cases thus far. This may raise concerns regarding how frequently buyers take legal issues against them, indicating that buyers might face challenges when navigating cancellations or refunds with this builder.
Conclusion
Venkateswara Infraprojects Private Limited presents a mixed bag for potential buyers. With a single legal case resulting in a loss, it becomes imperative for prospective clients to approach transactions with caution. It is crucial to clearly understand the terms of any agreement, especially regarding cancellations and refunds.
Tips for Potential Buyers
If you are considering purchasing property from Venkateswara Infraprojects or any builder, keep the following tips in mind:
- Read the Fine Print: Always go through the agreement details meticulously. Ensure you understand the terms regarding cancellation, refunds, and liabilities.
- Seek Legal Advice: Consulting with a legal expert can help clarify any ambiguous terms in the agreement.
- Verify Credentials: Research the builder’s past projects and look into community feedback to gauge their reputation.
- Document Everything: Keep records of all transactions, communications, and documented agreements to protect yourself legally.
General Tips for Selecting a Builder
- Check Reviews: Look for reviews and testimonials from previous buyers to assess builder reputation.
- Look for Transparency: Builders should be open about their projects, timelines, and any potential issues.
- Financial Stability: It’s beneficial to understand the builder's financial health to ensure they can complete your project.
- Inspect Ongoing Projects: Visiting ongoing projects can offer insights into the builder's quality and workmanship.
In summary, while Venkateswara Infraprojects has its foothold in Karnataka's real estate market, buyers are advised to conduct thorough research and exercise caution to maximize their investment and minimize potential disputes.
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Here you’ll find cases where others sued the builder, and the builder lost. We’ve included a simple summary and key takeaways from each case.
Analysis of the cases filed against Venkateswara Infraprojects Private Limited, where the builder lost, reveals several key themes and patterns. The primary disputes can be categorized into two main topics: Refund and Repayment Disputes, and Cancellation of Agreement Claims.
The cases often revolved around the builder's failure to fulfill agreements, leading to claims from the complainants seeking substantial refunds and repayments. In one notable case, the complainant sought a refund of Rs. 14 lakhs along with the repayment of an outstanding loan of Rs. 39.39 lakhs. The builder's defense was rooted in their claim that the complainant had canceled the agreement, thus forfeiting their right to a refund. However, the Authority ruled in favor of the complainant, directing the builder to pay Rs. 26.13 lakhs with interest.
Common reasons for litigation in these cases include disputes over financial obligations, particularly refunds and loan repayments, and the implications of agreement cancellations. People brought cases to court primarily to contest the builder's assertions that they were not entitled to refunds or repayments after perceived breaches of contract or agreements.
The builder lost these cases chiefly due to their inability to validate their claims with sufficient evidence. The ruling highlighted the importance of adhering to contractual obligations and recognizing the rights of buyers in the event of disputes. The builder’s misunderstanding or misrepresentation of agreement terms led to their legal downfall, serving as a cautionary tale for builders about the necessity of transparency and ethical practices in real estate dealings.