Team Opulnz Abode 18th April 2023 6.30 am Read time – 2mins
The Union Ministry of Consumer Affairs, Food, and Public Distribution has announced plans to mediate in real estate disputes under the Consumer Protection Act, 2019. This move aims to ensure timely resolution of consumer complaints related to real estate, and to promote transparency and accountability in the sector.
Opulnz Abode, a top-performing luxury property consultant, welcomes this initiative by the government. According to their experts, this will provide a much-needed relief to consumers who often face challenges in obtaining justice in real estate disputes. The experts also believe that this will help in building consumer trust and confidence in the real estate sector. India passed an updated law, the Consumer Protection Act, 2019, which provides for a three-tier quasi-judicial mechanism to redress consumer disputes — district, state commissions and national commissions. State commissions have jurisdiction to deal with complaints when the value of the goods or services is worth between ₹50 lakh and ₹2 crore.
The new mechanism will include the establishment of the Central Consumer Protection Authority (CCPA) and State Consumer Dispute Redressal Commission (SCDRC). These authorities will have the power to mediate, settle, or adjudicate consumer complaints related to real estate.
In addition, the government plans to set up Real Estate Regulatory Authorities (RERAs) in all states to regulate and promote transparency in the real estate sector. Since inception, 230,517 cases have been filed by consumers in various commissions and 176,895 cases have been disposed of, while 53,622 disputes are being heard, official data show. RERAs will act as a single point of contact for all real estate-related complaints and will ensure that the interests of consumers are protected.
Opulnz Abode believes that this initiative will benefit both consumers and real estate developers in the long run. By ensuring timely resolution of disputes, the real estate sector can attract more investment and boost consumer confidence. This, in turn, can lead to the growth and development of the sector, creating more employment opportunities and contributing to the overall economic growth of the country.
In conclusion, the government’s move to mediate in real estate disputes under the Consumer Protection Act, 2019, is a positive step towards promoting transparency and accountability in the real estate sector. The involvement of the Central Consumer Protection Authority, State Consumer Dispute Redressal Commission, and Real Estate Regulatory Authorities will help ensure timely resolution of consumer complaints related to real estate. This is a welcome development for both consumers and real estate developers, and will benefit the sector in the long run.
Opulnz Abode differentiate itself by offering unique services, premium amenities and developing a strong brand identity.
Source Link: https://www.hindustantimes.com/india-news/union-ministry-to-mediate-in-real-estate-disputes-under-consumer-rights-law-101681757959993-amp.html?utm_source=whatsapp&utm_medium=social&utm_campaign=ht_AMP