Hard to believe but developers and homebuyers have resolved nearly 90 per cent disputes that knocked the doors of conciliation forum of the Maharashtra Real Estate Regulatory Authority (MahaRERA).
According to data, the conciliation forum handled 135 valid cases, out of which 121 were settled successfully.
The forum includes benches of two people each. In every bench, one representative is from the reputed developer body and the other is from the consumer forum. The moment they receive complaints from either party, they seek their consent and try to settle the issues. Only in 14 cases, both parties (homebuyers and builders) could not reach a settlement, leading to 90 per cent success in the last 6 months.
Conciliation is an Alternate Dispute Redressal (ADR) mechanism. In the ADR field, 90 per cent success rate is something unprecedented, says Adv Shirish Deshpande the chairman of Mumbai Grahak Panchayat..
He further added, "Reasons for this could be the presence of representatives of consumer organisation (MGP) on one hand and representative of either CREDAI, MCHI or NAREDCO on the other, which helps to bring both warring parties to the reasonable settlement."Source: Daily News & Analysis
As indicated by segment 11(2) of the Real Estate (Regulation and Development) Act, 2016, the ad or outline issued or distributed by the promoter is required to say the site address of the expert wherein all points of interest of the enrolled venture are entered and incorporate the undertaking's MahaRERA enlistment number.