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 Genuine News About The Fake Parsvnath Developers Complaints

I am a resident of the very first Parsvnath real estate project. I still remember the feeling of risk and when I was giving the token many. My family thought I was throwing out money into a pit. They didn’t have such big name then. Everyone thought about the possession issues with all these projects. I visited their website and with a shock showed my wife

Read The News About The Fake Parsvnath Developers Complaints

Review By Vikram Mathur: I have lived in Delhi my entire life. I am so attached to my locality that every time my family asked to change our address, I blew them off. Last week, I got late from office. I reached to found out that, there was no space to park my car. Not even to enter the street. Soon, I realized it was time to switch. So, I went to many

Parsvnath Complaints – Conspiracy to Defame the Developers

With the consistently developing episodes of delay in delivery of ownership of houses by reputed real-estate firms, home-purchasers have been searching for safe options amongst the firms. Parsvanath Developers, one of India’s leading real –Estate Company have perceived this reality and have been conveying cutting edge residential houses for the rising Indian urban class with a dedicated delivery of property in time.