Revitalizing Real Estate: Decoding Disputes, Propelling Policies, and Pioneering Solutions
Publication: Journal of Legal Affairs and Dispute Resolution in Engineering and Construction
Volume 16, Issue 4
Abstract
In the challenging landscape of real estate, project delays due to conflicts were a persistent issue until the Indian government introduced the Real Estate (Regulation and Development) Act (RERA) in 2016. This transformative legislation aimed to bring transparency and accountability to the sector. Through a systematic approach involving a literature review, case studies, and tailored surveys, this study explores RERA’s effectiveness from the perspectives of developers and customers. Despite awareness of real estate policies, certain elements like the appellate tribunal are often overlooked by stakeholders. Developers highlight positive impacts and financial prudence catalyzed by RERA, while customers stress the need for stringent regulations, emphasizing timeliness and transparency. Survey-derived recommendations include a Pan-India registration system and an efficiency rating for developers. Although focusing on NCR Delhi initially, the study emphasizes the importance of broader research for comprehensive policy recommendations, ultimately aiming to reduce delays and ensure timely project delivery.
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Data Availability Statement
All data used during the study are available from the corresponding author upon reasonable request.
References
List of Statutes
The Real Estate (Regulation and Development) RERA Act, 2016, Act of Parliament, 2016 (India).
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Journal of Legal Affairs and Dispute Resolution in Engineering and Construction
Volume 16 • Issue 4 • November 2024
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© 2024 American Society of Civil Engineers.
History
Received: Dec 18, 2023
Accepted: Jun 6, 2024
Published online: Aug 29, 2024
Published in print: Nov 1, 2024
Discussion open until: Jan 29, 2025
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