| CIN | U70102HR2010PTC083912 |
|---|---|
| Year Established | 11 May 2010 |
| Address | OT-14, 3rd Floor, Next Door Parklands, Sector-76 , Faridabad, Haryana, India - 121004 |
| Company Status | Private |
Introduction
In the complex world of real estate, choosing the right builder is an essential decision that can affect your entire home-buying experience. One such entity operating in the state of Haryana is Visual Builders Private Limited. In this blog post, we will delve into the facts surrounding Visual Builders, including their legal standing, case history, and what potential buyers should consider when dealing with this builder.
Legal Case Overview
Visual Builders Private Limited has faced a total of three complaints, all of which have resulted in unsatisfactory outcomes for them. These legal disputes generally revolved around two main themes: delay in possession of the flats and claims of non-compliance with payment schedules.
Cases Lost
Common Factors
- Delayed Possession: All cases lost by the builder were related to claims from complainants regarding not receiving possession of their flats within the agreed-upon time frame.
- Interest and Refunds: In one case, the authority mandated the builder to refund the full amount paid by a complainant along with interest, while in the other two cases, the builder was directed to pay interest for delayed possession. This shows a consistent trend where the builder was unable to argue effectively against claims of delay.
- Defensive Claims: The builder frequently claimed defaults in timely payments by the complainants, asserting this as justification for not meeting possession dates. However, these defenses did not hold up in court, leading to unfavorable outcomes.
Cases Won
In stark contrast, there are also cases where Visual Builders could assert their position effectively, although none were classified as 'won' favorably.
Common Factors
- Delayed Payment Allegations: The winning assertions revolved around the idea that complainants had made timely payments, which the builder contested during legal proceedings.
- Possession Clause Validity: The authority upheld that the possession clause in the agreements was valid, suggesting that the builder had a legal framework they could rely upon at times.
- Interest Payments: While they were directed to pay interest due to delays, the outcome was a punitive, rather than a total loss, which might show some financial protection for the builder despite customer dissatisfaction.
Conclusion
Based on the data provided, Visual Builders Private Limited has a troubling history with legal complaints, predominantly focusing on delays in property possession. With a total of three cases lost and no wins that favor their standing, potential buyers should approach with caution.
Tips for Potential Buyers considering Visual Builders:
- Thorough Research: Investigate the builder's history and check recent reviews or updates related to ongoing projects.
- Seek Legal Counsel: Before entering into an agreement, consulting with a legal expert can help decipher the fine print and protect your interests.
- Negotiate Clear Terms: Ensure that possession dates and conditions are crystal clear in your agreement. This reduces the chance for ambiguity when the time comes for delivery.
- Remain Aware of Legal Standing: A clear understanding of the builder's legal challenges can foster better decision-making.
General Tips for Buyers When Selecting Builders:
- Check Builder Reputation: Look for builders with a strong track record and positive customer feedback.
- Review Past Projects: Visiting completed projects can give you a tangible sense of the builder's quality and timelines.
- Focus on Transparency: Opt for builders who are open about their processes and provide clear, concise paperwork.
- Understand Financing: Make sure you comprehend the financial implications of your purchases, including any payment milestones.
In conclusion, while Visual Builders Private Limited may offer opportunities, the risks highlighted by their legal issues warrant careful consideration and due diligence from potential homebuyers.
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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 Visual Builders Private Limited, where the builder lost, reveals several key themes and patterns. The cases primarily revolve around three common topics: delayed possession claims, payment disputes, and refund entitlements.
Many of the claims made by the complainants were associated with delayed possession of their flats. In these cases, the complainants sought delay possession charges, asserting that the builder had failed to provide their promised properties within the agreed-upon time frame. The builder, on the other hand, consistently attributed these delays to payment defaults by the complainants, arguing that the possession clause in the agreement was valid and that timely payments were crucial for timely delivery. However, the authority did not accept the builder's defense and directed them to pay interest at the rate of 10.35% per annum for every month of delay, indicating a legal recognition that payment disputes do not invalidate the obligation to deliver property on time.
The reason people commonly brought these cases to court centers around the significant emotional and financial investments buyers make in residential properties. Delays in possession often result in additional costs, as buyers may need to maintain alternative housing while waiting to move into their new homes. The patterns emerging from these summaries highlight a frequent trigger for the builder’s litigation: the failure to meet project timelines and fulfill contractual obligations, which consistently led to claims of delayed possession and entitlements to compensation.
The builder lost these cases primarily due to a combination of factors. Firstly, the repeated reliance on payment disputes as a defense suggests a systemic issue where the builder may have failed to consider the realities of buyers’ financial situations and the potential for delays in payment. Moreover, the authority's decision to award interest on delays indicates that the builder likely did not meet regulatory or contractual requirements for timely possession, which further undermines their defense. Finally, the entitlements to refunds in some cases demonstrate a significant breach in trust and satisfaction with the builder's services, leading to a legal obligation to repay amounts owed.
In summary, these cases underscore the importance of transparency and adherence to timelines in the real estate sector. Buyers should be wary of builders with a history of such disputes and conduct thorough research before committing to any property investment.