Complaints against India’s major builders, Parsvnath Developers Ltd.
One of India’s top most construction and infrastructure building company is now implicated in a series of complaints registered all across the North India regarding property disputes. Parsvnath Developers Complaints:
Several impending complaints against Parsvnath developers have been on the rise in several of their residential townships and projects in the North India.
Most of the complaints are regarding the misuse of funds appropriated or collected thereof, from different plot buyers and home owners, who haven’t been allotted or given possession of their investments. Many home owners have even witnessed the lack of development.
Consumer complaints forums are filled with incompetency rapports on the part of Parsvnath Developers, and their lack of trust which is neatly displayed in this manner. The builders had used the means of advertising to lure several consumers, to buy plots and flats in their residential townships in Sonepat and even in Jaipur.
Recently, the possession of a flat to a Union Minister of State Mr Rajyavardhan Singh Rathore, was demanded to be made in 2 days, by the Supreme Court of India. Mr Rathore, who was one of several complainants to book a flat in Parsvnath’s Exotica project in Gurgaon back in 2006, and also paid Rs 70 lakh for the same.
The firm, however, was supposed to deliver the flat to Mr Rathore in 2008-09 but still hasn’t. The NCDRC National Consumer Disputes Redressal Commission, directed the builder to refund the entire principal amount along with an interest and compensation for the chaos caused.
At Ghaziabad, the Parsvnath Exotica project which failed to deliver possession to over 70 flat buyers on the schedule promised, was asked by the Supreme Court of India to deposit Rs 12 crore as a refund payment to the home owners.
The NCDRC had also asked Parsvnath Developers to refund the amount borrowed to all 70 flat buyers along with a 12% interest rate. The firm has taken an offensive position who told the Supreme Court that if these 70 home buyers were allowed a refund, it will open floodgates to every home buyer seeking a refund as well.
One of India’s top most construction and infrastructure building company is now implicated in a series of complaints registered all across the North India regarding property disputes. Parsvnath Developers Complaints:
Several impending complaints against Parsvnath developers have been on the rise in several of their residential townships and projects in the North India.
Most of the complaints are regarding the misuse of funds appropriated or collected thereof, from different plot buyers and home owners, who haven’t been allotted or given possession of their investments. Many home owners have even witnessed the lack of development.
Consumer complaints forums are filled with incompetency rapports on the part of Parsvnath Developers, and their lack of trust which is neatly displayed in this manner. The builders had used the means of advertising to lure several consumers, to buy plots and flats in their residential townships in Sonepat and even in Jaipur.
Recently, the possession of a flat to a Union Minister of State Mr Rajyavardhan Singh Rathore, was demanded to be made in 2 days, by the Supreme Court of India. Mr Rathore, who was one of several complainants to book a flat in Parsvnath’s Exotica project in Gurgaon back in 2006, and also paid Rs 70 lakh for the same.
The firm, however, was supposed to deliver the flat to Mr Rathore in 2008-09 but still hasn’t. The NCDRC National Consumer Disputes Redressal Commission, directed the builder to refund the entire principal amount along with an interest and compensation for the chaos caused.
At Ghaziabad, the Parsvnath Exotica project which failed to deliver possession to over 70 flat buyers on the schedule promised, was asked by the Supreme Court of India to deposit Rs 12 crore as a refund payment to the home owners.
The NCDRC had also asked Parsvnath Developers to refund the amount borrowed to all 70 flat buyers along with a 12% interest rate. The firm has taken an offensive position who told the Supreme Court that if these 70 home buyers were allowed a refund, it will open floodgates to every home buyer seeking a refund as well.
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