Redressal of complaints becomes easier through UP RERA’s Conciliation Forum

financialexpress.com:

After the implementation of the Real Estate (Regulation and Development) Act, 2016, for speedy hearing of complaints of home buyers and mutual resolution of disputes in RERA, a Conciliation Forum has been established in the Regional Office, Greater Noida, by the Regulatory Authority, with the help of which a settlement is reached between the promoter and the allottees through mediation meetings which are organized to resolve disputes.

Many of the complaints registered in RERA include non-availability of possession/possession from the allottees and delays, 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 etc making the Conciliation Forum a priority for home buyers and promoters both for the resolution in minimum time for the disputes.

In order to find a suitable solution, UP RERA established a comprehensive Conciliation Forum system that involves gathering the promoter and the home buyer at a single table and having a detailed discussion after hearing each party’s point of view. Participating in the process are representatives of home buyers’ associations like NEFOMA and NEFOWA as well as promoters’ associations like CREDAI NCR and CREDAI Western UP. Through fostering mutual coordination between the two parties, the unions attempt to find a definitive solution. Aside from this, mutual discussion on reasonable and unreasonable demands made by the unions through their representatives drafts the background of logical agreement.

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