Real Estate (Development and Regulation) Act 2016, Rules and Regulations were enacted to resolve the disputes between the Builders & homebuyers.

♦ A Conciliation forum is to facilitate settlement of any disputes between the parties and acts as a mediator between the aggrieved parties.

♦ Aggrieved parties such as home buyers, developers, or real estate agents can get their grievances solved under this forum before filing a complaint with the Real Estate Regulatory Authority.

Settlement of Disputes Between Builder & Homebuyer - Conciliation Forum

♦ Procedure to file online application is as below: –

1. The allottee needs to register on the conciliation forum application portal, by entering his login Id & Password.

2. After successful login, allottee needs to complete the conciliation request form for raising the request.

3. The other party will be intimated through SMS and e-Mail. When the request is received, they need to click on the confirmation link.

4. When the confirmation is done, the option of making payment will be made available against the conciliation request for the allottee.

5. After successful payment is done, the matter will be referred to the appropriate conciliation bench. Both the parties will be intimated via SMS & E-mail.

6. In case both the parties agree for the settlement after the conciliation hearing, they will be required to sign a conciliation agreement, which will be uploaded for closing the request.

♦ Role of Conciliator: –

1. The Conciliator ensures that both the parties settle their dispute in an independent and impartial manner.

2. The Conciliation process shall be guided by the principles of objectivity, fairness & justice, giving consideration to, among other things, the rights of the parties, the usages of the trade concerned & the circumstances surrounding the dispute, including any past business practices between the parties.

3. The Conciliator may consider the circumstances of conducting the conciliation proceedings in such a way as to enable the both the parties to express their interest and hear the oral statements of either party.

4. The Conciliator at any stage of the conciliation proceedings may make proposal for settlement of the dispute. Such proposals mandatorily need not to be in writing and need not be accompanied by a statement of the reasons, therefore.

♦ Settlement of Disputes: –

1. If both the parties are ready to settle the matter, a settlement agreement is drawn and signed by both the parties.

2. Once the settlement agreement is signed by the parties, it shall be final and binding on both the parties.

3. The conciliators shall certify the settlement agreement and a copy should be given to each of the parties.

♦ Non-Compliance – The concerned parties shall comply with the terms and conditions of the settlement agreement. If either of the party failed to comply with the terms and conditions of the settlement agreement, the other party have a right to approach the RERA. If further complaint is made to RERA by the parties in the same subject, RERA authority shall take cognizance of any such agreed terms of Conciliation.

Arbitral or Judicial proceedings – The parties shall not initiate any arbitral or judicial proceedings during the conciliation proceedings. This can only be done when such proceedings are necessary for preserving his / her rights.

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Qualification: CA in Practice
Company: Agrawal Gupta & Sahu http://www.caags.net & RERA Master http://www.reramaster.com
Location: DELHI, New Delhi, IN
Member Since: 12 Jul 2017 | Total Posts: 37

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