MahaRERA Conciliation Forum: Legality and Effectiveness in Resolving Real Estate Disputes
Mumbai Grahak Panchayat supports the legality of MahaRERA's conciliation forum, citing its origin in Sec. 32 (g) of RERA, 2016. The forum aims to resolve disputes between promoters and allottees through amicable conciliation.
MahareraConciliation ForumReal Estate DisputesReraConsumer ProtectionReal Estate MumbaiSep 19, 2024
According to Shirish V Deshpande, chairman of MGP, the conciliation forum originates from Sec. 32 (g) of RERA, 2016, which mandates state RERA authorities to recommend measures to facilitate amicable conciliation of disputes between promoters and allottees. Deshpande stated that the forum was set up after due deliberations with promoters' associations and was notified on January 29, 2018.
The FPCE, in a letter to the Ministry of Housing and Urban Affairs, argued that MahaRERA lacks the legal authority to create such a forum, citing Section 32 of RERA, which merely gives power of recommendations to the authorities. However, Deshpande countered that the forum is functioning within the framework of RERA and has necessary legal sanctity.
The conciliation bench comprises two conciliators, one from MGP and another from either the National Real Estate Development Council, Confederation of Real Estate Developers Associations of India, or Maharashtra Chamber of Housing Industry. MGP emphasized that conciliation or mediation are legally recognized modes of alternative dispute resolution, with advantages including saving time and money.
The forum's effectiveness is also backed by penal provisions under RERA for non-compliance. Sec. 63 provides a penalty for every day of non-compliance, which may cumulatively extend up to 5% of the total project cost.
In conclusion, the MahaRERA conciliation forum has the backing of MGP, which cites its origin in RERA, 2016. While controversy surrounds its legality, the forum aims to provide a platform for resolving disputes between promoters and allottees through amicable conciliation.
About Mumbai Grahak Panchayat
Mumbai Grahak Panchayat is a consumer organization that works towards protecting the rights of consumers in India. The organization has been actively involved in promoting consumer welfare and has worked closely with regulatory bodies to ensure that consumer interests are protected.
About MahaRERA
The Maharashtra Real Estate Regulatory Authority is a regulatory body established under the Real Estate (Regulation and Development) Act, 2016. The authority is responsible for regulating the real estate sector in Maharashtra and ensuring that developers comply with the provisions of the Act.
About FPCE
The Forum for Peoples' Collective Efforts is a nationwide homebuyers' association that works towards protecting the rights of homebuyers in India. The organization has been actively involved in promoting the interests of homebuyers and has worked closely with regulatory bodies to ensure that their rights are protected.
Frequently Asked Questions
What is the purpose of the MahaRERA conciliation forum?
The purpose of the MahaRERA conciliation forum is to resolve disputes between promoters and allottees through amicable conciliation.
What is the legal basis for the MahaRERA conciliation forum?
The MahaRERA conciliation forum originates from Sec. 32 (g) of RERA, 2016, which mandates state RERA authorities to recommend measures to facilitate amicable conciliation of disputes between promoters and allottees.
Who are the members of the conciliation bench?
The conciliation bench comprises two conciliators, one from MGP and another from either the National Real Estate Development Council, Confederation of Real Estate Developers Associations of India, or Maharashtra Chamber of Housing Industry.
What are the advantages of resolving disputes through conciliation?
The advantages of resolving disputes through conciliation include saving time and money, as well as avoiding the need for litigation.
What are the penal provisions for non-compliance with RERA?
Sec. 63 of RERA provides a penalty for every day of non-compliance, which may cumulatively extend up to 5% of the total project cost.
Related News Articles
Tampa Bay: A Thriving Hub for Commercial Real Estate Investing
Discover why Tampa Bay is a prime location for commercial real estate investing, with its growing economy, diverse business landscape, and favorable climate.
Average Home Prices in Top Seven Cities Reach ₹1.23 Crore in H1 FY25, Up 23% Year-On-Year
Average home prices in the top seven cities have reached ₹1.23 crore in the first half of fiscal year 2025, marking a 23% increase from the previous year. This significant rise underscores the robustness of the real estate market in these key urban center
Abhishek Bachchan's Real Estate Ventures in 2024: A Closer Look at His Diverse Investments
In recent years, Abhishek Bachchan and his father, Amitabh Bachchan, have collectively invested over ₹200 crore in the real estate sector, showcasing their strategic financial acumen and long-term vision.
Housing Prices Rise in 23 Major Tier II Cities, Drop in 5 Small Towns: PropEquity Data
Recent data from PropEquity reveals that the average housing prices in 23 major Tier II cities have seen a notable increase, while rates have fallen in 5 smaller towns. This trend highlights the dynamic nature of the real estate market in different region
Agarwal Holdings Secures Prime Land in Juhu from Shapoorji Pallonji for Rs 455 Crore
Agarwal Holdings, a prominent real estate and financial services company, has made a significant move in the Mumbai real estate market by acquiring a prime piece of land in Juhu from Shapoorji Pallonji Group for Rs 455 crore. This acquisition marks a stra
Savills India Reports Record 75.2 Million Sq-Feet Office Space Absorption in 2024
Savills India has announced an unprecedented absorption of 75.2 million square feet in the Indian office market in 2024, marking a significant milestone in the real estate sector. This surge is driven by the tech sector, urbanization, and robust economic