Dispute Resolution Mechanism in the Real Estate Industry

Abstract 1

India continues to experience an ever-increasing number of Real Estate disputes. Real estate
Industry disputes and there backdrops on buyer been topic of debate for quite some time. Looking
at this dismal situation Indian parliament enacted Real Estate Regulatory Authority (RERA) to
curb this issue. In spite of the fact Indian parliament has made the stringent law to protect the
rights of the buyer and safeguard the interest of the builder in case of insolvency has failed in the
present legal system due to the overburden of the pending cases. There are a number of ways to
use Alternative Dispute Resolution, but in Real estate industry Alternative Dispute Resolution can
be use effectively and in efficient way.

This paper attempts to analyze and unearth the benefit of Alternative Dispute Resolution in
settlement of Real Estate Industry. An appraisal has been made by authors in this regard. Research
question of this paper revolves around very basic question that, whether imposing of mandatory
escrow account adversely affected the builder? Whether dispute resolution mechanism helped to
reduce the pendency of cases in the Real Estate Industry? Researcher also tries to put light on Real
Estate Regulatory Authority (RERA) and suggest a more practical way to implement policy and
law.

This research work is focused on finding a balanced approach in cases of Real Estate disputes.
Emerging challenges in implementations of policy and law in Alternative Dispute mechanism with
respect to Real estate disputes is discussed in this paper. Author proposes that there should be more
stringent law and policy maker should juxtapose dispute resolution with real estate disputes to
reduce the pendency of cases in courts, for the effective and efficient functioning of law. The
paper ends with suggestions as to how can the grievance redressal system and policy with regard
to Real Estate Regulatory Authority (RERA) can be tackled.

1
Author- Rajat Kashyap 5th year 9th semester
Co-author – Rishabh Aditiya 5th year 9th semester
Chanakya National Law University