In the dynamic landscape of real estate transactions, disputes between homebuyers and developers can often arise, leading to prolonged legal battles and strained relationships. Recognizing the need for a swift and amicable resolution process, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has established a Conciliation Forum under the Real Estate (Regulation and Development) Act, 2016. This forum aims to facilitate constructive dialogue and settlement between the parties involved, ultimately fostering a healthier ecosystem for both developers and homebuyers.
Understanding Conciliation: Conciliation, as mandated by Section 32 (g) of the RERA Act, serves as a platform for resolving disputes outside the traditional courtroom setting. It involves the participation of representatives from both consumer associations and promoters’ associations, ensuring a balanced approach to conflict resolution. Homebuyers initiate the process by registering with the conciliation forum, following which hearings are conducted to address the grievances raised by both parties.
Success Rate Insights: According to recent data from MahaRERA, the success rate of conciliations stands at an impressive 35% to 50%. Out of over 1,200 cases handled by the conciliation forum, a significant portion has been successfully resolved, providing relief to aggrieved parties. However, challenges persist, particularly in cases where developers do not consent to conciliation, necessitating further action through MahaRERA’s complaint mechanism.
Enhancing Success Rates: Members of the conciliation forum emphasize the importance of a collaborative approach to dispute resolution. Success hinges on the willingness of all involved parties to prioritize settlement over litigation. By fostering a party-centric mindset and promoting open communication, the forum seeks to increase its effectiveness in resolving disputes swiftly and equitably.
Addressing Complaints: Beyond conciliation, MahaRERA has played a pivotal role in adjudicating complaints filed by homebuyers and developers. With over 24,000 complaints reported, the authority has issued orders in more than 16,000 cases, underscoring its commitment to upholding transparency and accountability in the real estate sector.
Conclusion: As the real estate industry continues to evolve, effective dispute resolution mechanisms are essential for maintaining trust and confidence among stakeholders. MahaRERA’s Conciliation Forum represents a proactive step towards addressing conflicts in a timely and constructive manner. By fostering cooperation and dialogue, this forum holds the potential to transform the landscape of dispute resolution in the real estate sector, ultimately benefiting developers, homebuyers, and the industry at large.