After a year-long hiatus, the Karnataka Real Estate Appellate Tribunal (K-REAT) is poised to resume operations by the end of May. The tribunal, which plays a crucial role in addressing grievances related to the real estate sector, is set to alleviate the concerns of aggrieved home-buyers and streamline dispute resolution processes.
Government Initiatives to Revive the Tribunal
In response to criticism from the High Court and the dissatisfaction of home-buyers, the state government has initiated steps to fill vacant positions within the tribunal. The appointment of retired IAS officer Mahendra Jain as the technical and administrative member marks the first step in this process. Additionally, the government is actively seeking applications for the position of the judicial member, with the Housing Department facilitating the recruitment process.
Pending Appointment of Chairperson
While progress has been made in appointing members to the tribunal, the position of the chairperson remains vacant. The government is currently seeking consent from the Chief Justice of the Karnataka High Court for the appointment, signaling a commitment to restoring the tribunal to full functionality.
Role and Impact of the Tribunal
The K-REAT serves as a vital avenue for addressing grievances arising from decisions made by the Real Estate Regulatory Authority (RERA) or adjudicating officers. Despite its temporary closure, the tribunal has a commendable track record, having delivered over 500 judgments and facilitating numerous out-of-court settlements between homebuyers and developers.
Challenges and Requirements for Operation
Despite the appointment of an administrative member, the tribunal cannot issue orders independently due to the requirement for a minimum of two members on the bench. This underscores the urgency of expediting the appointment process to ensure the tribunal’s effective functioning.
Term and Tenure of Tribunal Members
The tenure of tribunal members spans five years from the date of assuming office or until they reach the age of 65, whichever comes first. This ensures continuity and stability within the tribunal’s operations, thereby fostering confidence among stakeholders.
Conclusion
The imminent revival of the Karnataka Real Estate Appellate Tribunal signals a positive development for the state’s real estate sector. With concerted efforts from the government to fill vacant positions and streamline operations, stakeholders can look forward to enhanced dispute resolution mechanisms and greater accountability within the industry..
