As against other consumer courts and other dedicated agencies such as NCDRC or National Consumer Disputes Redressal Commission , property or home buyer can definitely approach the new set-up law RERA or Real Estate (Regulation and Development) Act, for complete rescue and relief.
So, here is put forth, how RERA would be a better and all-in-one option to approach. RERA enable to check for any loopholes in the legal framework of real estate sector. Further the platform can serve to entertain all issues per se real estate including developers as well as buyers.
Functions and powers in the interest of property buyers with RERA
Any registered developer under RERA plus the buyers too can be approached by the authorities in case of lack in services. Also, the legal framework also brings in agents under its purview because of their huge role in the system.
The dedicated court shall address only real estate issues so hearing and redressal shall be on a much faster pace. Also, the success of RERA for vested stakeholder would lie in the proper collation of claims in respect of a particular project. Also, as against other authorities which shall come into force, in cases of claims over Rs. 1 crore and where the plantiff making the complaint is a registered entity.
The authority can be approached for making individual complaints and then under RERA provisions, the necessary investigation can be conducted. Also, forms can be specified in addition to the documentary evidence. Both state and regional level can be approached for making complaints. So, complaints can be filed without much hassle easily.
Likely recourse or action against developers or other parties, prisonment to a maximum of three years can happen along with any penalty charges.
So, if RERA works according to the laid down provisions and showcase its capabilities to punish as well as impose penalty on developers or allottees, the transparency as well as faith in the system shall be boosted on the whole.