+
Consumer Forum Directs Builders to Compensate Parsvnath Exotica Buyers
Real Estate

Consumer Forum Directs Builders to Compensate Parsvnath Exotica Buyers

A consumer forum has ruled in favour of Parsvnath Exotica buyers, ordering the builders to provide compensation for the delay in possession of their properties. This decision marks a significant victory for the aggrieved buyers who have faced prolonged waiting periods for their homes.

The directive from the consumer forum underscores the importance of upholding consumer rights and holding developers accountable for project delays. It serves as a deterrent against unfair practices in the real estate sector and highlights the need for builders to fulfil their commitments to homebuyers in a timely manner.

The compensation ordered by the forum is expected to provide relief to Parsvnath Exotica buyers who have endured financial and emotional hardships due to the prolonged delay in possession. It reaffirms the principle of justice and restitution for consumers who have been adversely affected by developer negligence.

Furthermore, the ruling sets a precedent for similar cases involving project delays and non-delivery of homes, sending a clear message to developers to prioritise timely completion and delivery of projects. It underscores the forum's commitment to protecting the interests of homebuyers and ensuring accountability within the real estate industry.

Overall, the consumer forum's decision to mandate compensation for Parsvnath Exotica buyers reflects a victory for consumer rights and serves as a reminder to developers to uphold their obligations towards homebuyers. As the affected buyers receive the compensation they deserve, it reaffirms the importance of transparency, accountability, and adherence to timelines in the real estate sector.

A consumer forum has ruled in favour of Parsvnath Exotica buyers, ordering the builders to provide compensation for the delay in possession of their properties. This decision marks a significant victory for the aggrieved buyers who have faced prolonged waiting periods for their homes. The directive from the consumer forum underscores the importance of upholding consumer rights and holding developers accountable for project delays. It serves as a deterrent against unfair practices in the real estate sector and highlights the need for builders to fulfil their commitments to homebuyers in a timely manner. The compensation ordered by the forum is expected to provide relief to Parsvnath Exotica buyers who have endured financial and emotional hardships due to the prolonged delay in possession. It reaffirms the principle of justice and restitution for consumers who have been adversely affected by developer negligence. Furthermore, the ruling sets a precedent for similar cases involving project delays and non-delivery of homes, sending a clear message to developers to prioritise timely completion and delivery of projects. It underscores the forum's commitment to protecting the interests of homebuyers and ensuring accountability within the real estate industry. Overall, the consumer forum's decision to mandate compensation for Parsvnath Exotica buyers reflects a victory for consumer rights and serves as a reminder to developers to uphold their obligations towards homebuyers. As the affected buyers receive the compensation they deserve, it reaffirms the importance of transparency, accountability, and adherence to timelines in the real estate sector.

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?