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1,350 cases resolved through UP RERA conciliation forum

Developers and homebuyers have resolved 1,350 through NCR conciliation forum of Uttar Pradesh Real Estate Regulatory Authority (UP RERA) since 2019.As a result, assets valued at around Rs 550 crore were declared dispute-free.

“We have been successful in resolving almost 90% -95% of the cases filed in the UP RERA conciliation forum by our CREDAI members and RERA officials along with the representatives of the home buyers. This is the result of cumulative efforts of each stakeholder associated with the real estate sector over the last few years,” said Dinesh Gupta, Secretary of CREDAI Western UP.

After the implementation of the RERA Act 2016, for speedy hearing of complaints of homebuyers and mutual resolution of disputes in RERA, a conciliation forum has been established with the help of which there is a settlement between the promoter and the allottees through mediation meetings which are organized to resolve disputes.

“Many times we realized that due to lack of two way communication and interaction, matters come to complete disagreement. But in the conciliation forum, each party gets sufficient time to explain their concern which is observed and analyzed by RERA conciliator, representatives of home buyers and builders. Finally, it removes misconceptions of parties about each other and during the course we resolve the matter with consensus which is accepted by both parties,” Gupta said.

Many of the complaints registered in RERA include delay in possession, demand and calculation of interest for the delayed period, verification and re-calculation of the charges paid by the promoter in the final demand amount, adjustment of amount with interest on delay period, determination of parking space, maintenance charges from due date, making the conciliation forum a priority for home buyers and promoters both for the resolution in minimum time for the disputes.

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