Dispute Resolution and Spirit of RERA vis-à-vis Real Estate Industry
Maharashtra National Law University, Aurangabad, India
Volume II – Issue II, 2020
Real Estate sector is one of the most important sectors in Indian context with respect to the demand and supply of the same, it is certain that disputes are bound to distrupt and overhaul the said industry in various facets of the basic institutionalisation of Real Estate business as a whole. To combat such disputes which range from being trifling to being that of much more incidental approach, it is the devoir of utmost importance for legal fraternity to embark upon the certain mechanism to combat such Disputes.
In commonplace, dispute can be defined with utmost brevity as a Disagreement over the existence of a legal duty or right, or over the extent and kind of compensation that may be claimed by the injured party for a breach of such duty or right. One of the most ardent and paramount facet of law as a subject is to ensure social justice and civility amongst the society as a whole, to maintain a peaceful and merrier society it is supremely important for all the 3 pillars of Justice i.e. legislature, executive and judiciary and to ensure a staunch and effective mechanism for combating against Disputes and related conundrums which can be resolved by Dispute Resolution rather than the archaic method of litigation.
Dispute resolution primarily refers to one of several different processes used to resolve disputes between parties, including negotiation, mediation, arbitration, collaborative law, and litigation.
Furthermore being a part of legal fraternity, and being a pupil of law which is a transcendental discourse of Day-to-Day life, it is my utmost and prime duty to divulge my thoughts and to research in various aspects of the Legal picturesque .
Henceforth in this paper, I would be dealing with one particular field ,i.e. Dispute Resolution Vis-à-Vis Real Estate Industry from the vast arena of Dispute Resolution as a contemporary trend in the legal fraternity. My paper will include certain key elements, through which I will try to shed some light on the emerging trends and issues with relevance to my topic of research paper. These pointers being:- (1) Evolution of Dispute Resolution as a subject of Law. (2) Contemporary aspects of Dispute Resolution as an alternative to litigation in case of Real Estate Disputes and the significance of RERA. (3)Effectiveness of this alternative as to the archaic and age old method of litigation as a means for settling Disputes. (4) Certain case studies and landmark case laws in the evolution of Dispute Resolution with reference to Real Estate issues. (6) Pros and cons of RERA with respect to Dispute Resolution as an definitive mechanism for combating Issues regarding Real Estate sector. (6) Why Dispute Resolution is need of the hour in the pandemonium of legal transcendence. (7) Other relevant research subjects in furtherance to the topic of my paper.
Lastly through this piece of research work I would further like to add certain quintessential aspects of nuanced jurisprudence in the realm of ever-growing demand for Dispute Resolution as a beacon of new hope in the current legal pandemonium.
Keyword:- RERA, Alternative Dispute Resolution, Unregulated Sector, Centralized Grievance Redressal