Dis­putes Res­o­lu­tion un­der RERA

A guide for home­buy­ers

Consumer Voice - - Contents -

The Real Es­tate (Reg­u­la­tion and De­vel­op­ment) Act (RERA), which came into force on 1 May 2016, seeks to pro­tect the in­ter­ests of home­buy­ers as much as it hopes to boost in­vest­ments in the real es­tate sec­tor. The Act has given the In­dian real es­tate in­dus­try its first reg­u­la­tor. It is now manda­tory for each state and union ter­ri­tory to form its own reg­u­la­tor and frame the rules that will gov­ern the func­tion­ing of the reg­u­la­tor, on the ba­sis of the model rules framed un­der the cen­tral Act. Up un­til now, home­buy­ers' in­ter­ests were in a limbo due to the dom­i­nance of land mafias in the real es­tate sec­tor, a largely un­or­gan­ised ap­proach in deal­ings, lack of ac­count­abil­ity, and long-drawn-out pro­ce­dures in civil courts. Home­buy­ers have a point when they com­plain that many real es­tate trans­ac­tions are lop­sided and heav­ily in favour of de­vel­op­ers. So, will RERA cor­rect the im­bal­ance that has been for so long the bane of the sec­tor?

The pro­vi­sions of RERA re­gard­ing ac­count­abil­ity and trans­parency are strin­gent and will hope­fully make real es­tate trans­ac­tions sim­ple. But for all these to be truly re­alised, it is ab­so­lutely crit­i­cal that home­buy­ers are an aware lot – they need to un­der­stand the law and its im­pli­ca­tions so that they are vig­i­lant about any wrong­do­ing and are able to get the res­o­lu­tion ma­chin­ery go­ing if needed. Many buy­ers know that RERA has been im­ple­mented and it pro­tects con­sumers’ rights, but only a few know how to file a com­plaint. The suc­cess of the Act and its pro­vi­sions de­pends largely upon its im­ple­men­ta­tion. Hence, con­sumers need to know how to ap­proach RERA – with­out this, its proper im­ple­men­ta­tion is not pos­si­ble. This is an al­ter­na­tive to con­sumer courts. RERA pro­vides for fil­ing of com­plaint if no case on the same mat­ter is pend­ing be­fore con­sumer courts.

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