Read The Genuine Review About Parsvnath Developers

Walking into their property was a great pleasure even on the first visit. Parsvnath is a renowned name in the real estate industry in Delhi. I had a limited budget and was unable to find the dream home that meets the expectation of my family. Parsvnath Developers helped me get my dream home and I can truly say that this is the best real estate service provider in India, especially for middle-income families as well as other different income groups.

To know more, read more reviews about Parsvnath Developers.

Fake Parsvnath Developers Court Case: Beware Of False Posts On Web by Competitors

Parsvnath Developers have gained high reputation in this industry. This developer is among the list of most favourable developers in India for the residential and commercial projects. However, due to high competition in the industry, the company is facing some issues due to the conspiracy from the close rivals. Parsvnath court case is not based on the real ground and is a conspiracy from the rivals to destroy the huge customer base. Most of the complaints include the delay in handling the possession and other issues. However, despite being in the debt of Rs. 400 crore, Parsvnath Developers have given words to the Supreme Court to provide the quick possession to the owners within the tenure of a year.

So far it is noticed, that there are posts and news on the web that there are cases filed in the court against the developer and destroying their reputation. The main intention of these cases is to reduce the trust of the investors in this developer. However, if we notice the history of the developer, this has remained among the top developers who keep the promise and provide quality and affordable commercial and residential flats to consumers. The company also cleared that it will provide the possession within time and will work for the interest of the customers.

The Parsvnath Developers case was filed to hamper the overall reputation and lower the marks in the industry. Over the internet, the reputation of the company is tried to be hampered, but based on the no root for the truth. So far, the company has also filed the facts and denied the allegation. Further, it has also assured that it will work for the interest of the investors and will make effort to provide the flats within the speculated time in all its projects.

As it is a rumour that is spread over the internet about the court case for the Parsvnath, investors need to be aware of what is the actual truth. Parsvnath is a high reputed developer in the construction industry who cares for the investors and provides flats and commercial space at an affordable rate. This is listed among the top real estate developers of India and is known for the quality construction. So, investors should make a proper research and do not get influenced by the fake scam news or the court case over the internet against Parsvnath Developers.

Parsvnath Developers Case: Supreme Court Judgment on Parsvnath Fake Case

News & updates about Supreme Court Judgement on Fake Parsvanath Developers Case. Get all the latest & updated information, SC Orders on Parsvanath Developers Court Case. The 31-acre Parsvnath Exotica project, which was launched in 2007, has been mired in controversies by competitors.

Supreme Court ensures monetary relief for Unitech, Parsvnath flatbuyers

parsvnath developer court case: The Supreme Court on Wednesday asked Unitech to pay Rs Rs 80,000 each to 39 homebuyers at a residential project in Gurgaon as compensation for the mental agony caused to them by the company’s failure to deliver flats on time, and towards litigation cost. Possibly aware of the fact that its order would open a floodgate of similar demands, a three-judge bench led by CJI Dipak Misra clarified that this order would apply only to this parsvnath developer court case and not be treated as a judicial precedent.

In another parsvnath developer court case, the Supreme Court asked Parsvnath BSE -1.54 % Developers to pay interest at 10 per cent per annum to 70 homebuyers of its Exotica project in Ghaziabad as an interim relief, also for delay in giving possession of apartments.

In the Unitech, buyers at its Unitech Vista project in Gurgaon had first approached the National Consumer Disputes Redressal Commission after the company failed to deliver the flats on time. The commission ordered Unitech to repay them the principal with interest at 14 per cent, which the company has already done. Now the buyers will get Rs 80,000 more in eight weeks. This would be treated as compensation and so the homebuyers don’t have to pay income tax on the amount.

Initially, the homebuyers demanded Rs 2,00,000 each as compensation, but this was opposed by Unitech lawyer Abhimanyu Bhandari who argued that they had already got their principal amount and interest. The 14 per cent interest they got was better than the returns on most financial instruments, he said.

In another involving Unitech’s Anthea project, the court refused to pass any orders for now, saying it would deal with it later. These may be taken up along with Unitech MD Sanja ..

SC asks Parsvnath to pay 10% per annum interest to 70 Exotica home buyers as interim relief

The Supreme Court on Wednesday asked Parsvnath Developers to pay interest at 10% per annum to 70 home buyers of its Exotica project in Ghaziabad as an interim relief for  in giving possession of apartments.

The final hearing in the case has been scheduled for December 1 to determine the exact interest component to be paid to the home buyers, informed lawyer advocate ML Lahoty, who appeared on behalf of the aggrieved buyers in this case.

Parsvnath Developers has already deposited the principal amount amounting to Rs 22 crore with the apex court’s registry, which has been distributed to the said home buyers.

The National Consumer Disputes Redressal Commission (NCDRC) in May this year had asked Parsvnath Developers to refund the entire amount paid by 70 home buyers in its Ghaziabad project with 12% interest for delay in completing the project. The real estate developer had appealed against the NCDRC order in the Supreme Court.

The Ghaziabad Development Authority had also cancelled the building plans for Parsvnath Exotica in August last year.

NCDRC in May this year had decided to issue a public notice in newspapers for all the home buyers in Parsvnath Exotica project in Ghaziabad to expedite redressal of their grievances.

The  of Parsvnath Exotica project in Ghaziabad, Devidayal Aluminium Industries, had also cancelled the power of attorney (POA) for the land in June this year. However, Parsvnath had termed the cancellation as illegal.

The 31-acre Parsvnath Exotica project, which was launched in 2007, has been mired in controversies and has not been completed yet.

Read The Fake Parsvnath Developers Complaints

Review By Ankita Sharma: I and my husband reside in Parsvnath Exotica since last 2 years on rent. What do you call my house? A dream home certainly! My house is equipped with all kind of modern amenities and endorses a beautiful architecture that makes it stand out amongst other buildings in the locality. Parsvnath Exotica is located in the prime locations of Gurgaon and it is a complete delight to stay in. I’m surprised by reading Parsvnath Developers complaints and it really saddens me to see such a prestigious company being drawn down due to these rumours. I am sure I will not find such a beautiful house and so I and my husband plan to buy the same property in the span of next one and half year. Please don’t believe in false parsvnath complaints and rumours check yourself I am sure you will find the house property belonging to Parsvnath Developers very enchanting!

Parsvnath Developers Committed To Deliver All Projects in 1-2 Years

Parsvnath Developers is one of the biggest names in the real estate business with a lot of successful projects in its kitty. The company has been flourishing and has been operating smoothly without any complaints for a very long time however the company had to face the little problem when it had to deal with a lawsuit regarding the Parsvnath Exotica project. Parsvnath Developers posted a somewhat fragile arrangement of Q2 numbers. In a meeting with CNBC-TV18, Pradeep Jain, Chairman of the company bantered the Q2 execution and gave his position for the company’s future. In this case approximately 70 investors sued the company along with a legal counsellor.

This caused a huge back set to the company’s goodwill and the company had to face a bad reputation amongst the existing customer’s potential clients and public. The investors’ lawyer demanded that the parts were not should return the money that the customer have paid at the time of purchase. In an answer to this the company’s legal team set that the current market conditions the unfavourable and thus the court must extend the possession time. In this way the company will get time to wrap up all the promise agreement. After a series of argument the court favoured the investor and thus they won the case.

“We possess business properties that have a size of 1.38 million square feet, said Jain. He additionally specified that the association will move toward becoming obligation free in the following 2-3 years. We will adapt couple of benefits and will utilize the increases to pare obligation, he included. Discussing the endeavours, he said we will convey every one of our undertakings in the following 18 two years,” said Jain.

Another problematic issue that Parsvnath had to face was allegations that said that Parsvnath used the dominant position to cheat and manipulate the clients by using unethical terms and conditions however later the commission dropped the charges as there were more dominant players in the market and saying that they use their position wrongly is unjustified. It can be said that the company is facing a rough soil but calling Parsvnath Developer fraud or unethical is completely wrong. The company is working to reconstruct its financial arrangements to regain its prosperity in the industry and claims to bring new enchanting projects for the market.