Parsvnath Privilege Phase 4 Pi Greater Noida, Greater Noida

Parsvnath Privilege Phase 4, developed by Parsvnath Developers Limited, was officially launched on March 31, 2012. The project is located in GN Sector Pi, Greater Noida, near Alpha Sector Road, offering connectivity to landmarks and amenities.

The Parsvnath Privilege Phase-IV project with Project ID UPRERAPRJ6081, was registered with the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) on July 31, 2017. The promoter is Parsvnath Developers Limited.

The National Consumer Disputes Redressal Commission (NCDRC) addressed a complaint regarding delays in the Parsvnath Privilege project in Greater Noida. The complainant sought a refund with interest, alleging incomplete construction despite paying Rs. 52,14,170. Parsvnath cited reasons for delays in other projects but didn't provide cogent reasons for the Parsvnath Privilege delay.

Parsvnath Hessa Developers Private Limited filed a case against Union Of India And Ors.

Parsvnath Privilege Phase-IV, was expected to be completed by December 31, 2021. The project comprises 5 towers and offers 201 residential units, including 2 BHK, 3 BHK, with unit sizes ranging from 936 to 1216 Square feet across a total area of 5.31 Acre.

The National Company Law Appellate Tribunal (NCLAT) has dismissed the plea filed by four unit buyers of Parsvnath Landmark Developers to initiate insolvency proceedings against the subsidiary of Parsvnath Developer. The appellate tribunal upheld the orders of the Principal bench of the National Company Law Tribunal (NCLT), which on October 17, 2023, rejected their plea on technical grounds as the number of petitioners was only four, while the total number of allottees by Parsvnath Landmark is 488.

The Supreme Court modified the NCDRC's order, directing Parsvnath Developers Ltd to refund the amount paid by homebuyers with an enhanced interest of 12% (increased from 9%) for delayed possession. The court noted the inordinate delay in the project and stated that the buyers were made to suffer through no fault of their own.

Sanjeev Jain, CEO of Parsvnath Landmark Developers, was arrested following warrants issued by the NCDRC due to non-compliance in a consumer case. The warrants were related to a default in repayment of a refund amount, which the company subsequently deposited with the court.

Parsvnath Developers will enter into a co-developer agreement with OPAA Realty for its Parsvnath Palacia project in Sector-Pi, Greater Noida, under the Uttar Pradesh Government's Co-Developer Policy. OPAA Realty will complete the construction using its own resources, with GNIDA granting the necessary permissions.

A.P. Sharma filed a complaint against M/S Parsvnath Developers Ltd. regarding a plot booking in Parsvnath City, Indore, Madhya Pradesh. The complainant alleged delay in development work despite paying over 90% of the consideration.