1 month ago
Officials said the authority has through mediation solved over 73 percent of the 1,930 complaints received between February 2019 and December 2023
March 29, 2024 / 12:42 PM IST
Properties worth Rs 570 crore made dispute free through UPRERA conciliation forum
The Uttar Pradesh Real Estate Regulatory Authority (UPRERA) has made assets valued at over Rs 570 crore dispute-free between February 2019 and December 2023 through its conciliation forum, officials aware of the matter said.
They said that the authority has solved over 73 percent complaints received in its conciliation forum during the same period. Overall, around 1,930 complaints were transferred to the conciliation forum between February 2019 and December 2023.
UPRERA’s conciliation forum was established in February 2019 to resolve disputes between buyers and promoters before being sent for formal arbitration before a judicial body. According to UPRERA's SOP for filing a complaint, the forum is the first option that the complainant is presented with, officials said.
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“From the time of commencement of the conciliation forum in February 2019 to December 2023, over 1,400 cases of disputes were settled amicably by mutual consent at the UPRERA NCR conciliation forum. As a result, assets valued at around Rs 570 crore were declared dispute-free,” a UPRERA official told Moneycontrol, requesting anonymity.
The official said that around 70 percent of such properties are residential.
The official added that out of a total 1,900-odd cases, 180 were transferred to the bench for hearing while 350 complaints are still under trial at the conciliation forum.
How does the forum work?
Many of the complaints registered under the Real Estate (Regulation and Development) Act, 2016, are related to delays, including non-availability of the property at the promised time, and demand and calculation of interest for the delayed period, apart from verification and re-calculation of the charges paid by the promoter in the final demand amount, determination of parking space, maintenance charges from due date, etc.
According to officials, the forum system was thought up as a measure to avoid litigation and streamline the process, bringing together representatives of homebuyers' associations as well as promoters' associations like CREDAI NCR and CREDAI Western UP.
"Promoters and allottees can choose the conciliation forum for mutual settlement of the matters. The conciliation forum offers mediation of the conciliator along with association of allottees and promoter for settlement who put all effort to settle the dispute mutually," said Sanjay Bhoosreddy, chairman, UPRERA.
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Dinesh Gupta, secretary of CREDAI Western UP, said that they have been successful in resolving most of the cases filed in the UPRERA conciliation forum with the help of CREDAI members and RERA officials along with the representatives of the homebuyers.
“In the conciliation forum, each party gets sufficient time to explain their concern which is observed and analysed by RERA conciliator, representatives of homebuyers and builders. Finally, the matter is resolved with consensus which is accepted by both parties. Working on the same lines, we have formed a reconciliation committee with the Greater Noida Authority and are also trying a similar participation with the Noida Authority for quick and mutual solution of disputes,” Gupta said.
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