February 1, 2018

The Maharashtra Real Estate Regulatory Authority or MahaRERA's much-awaited 15 conciliation benches will start functioning from February 1.

These benches comprising two members each, one from realty developer's industry body and another from consumer forums, representing homebuyers would aim to provide faster relief to aggrieved entities.

These teams have been formed in the backdrop of MahaRERA receiving many complaints and looking to create a filter. This body can be approached by homebuyers and builders for reaching a consensus, thus leaving only matters that cannot be resolved for MahaRERA's intervention.

The conciliation bench is expected to arrive at the settlement within 45 days from the date of reference to the bench, said a joint release from MahaRERA, NAREDCO, CREDAI and Mumbai Grahak Panchayat.

The forum now includes 23 builders who are members of developer's bodies including the Confederation of Real Estate Developers Association of India (CREDAI) and National Real Estate Development Council (NAREDCO). Apart from this, MahaRERA has included 15 representatives of Mumbai Grahak Panchayat and Grahak Panchayat Pune to represent homebuyer's interest.

Of the total 15 teams, 10 conciliation benches have been set up for Mumbai Metropolitan Region (MMR) and 5 benches for Pune Region. Each Bench will have one Conciliator of Mumbai Grahak Panchayat (MGP) and one from either CREDAI Maharashtra, CREDAI – MCHI, NAREDCO.

Under this mechanism, homebuyer's complaints against builders can be resolved through a consensus. If there's no consensus, the homebuyer will have the option to lodge a formal complaint against the builder in MahaRERA.

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Source: magicbricks.com