Distressed homebuyers in the state will soon have a platform to mutually discuss their issues with promoters as the Odisha Real Estate Regulatory Authority (ORERA) has initiated the process to operationalize a dedicated cell for the same.
The platform, called conciliation and dispute resolute (CDR) cell, will allow interested homebuyers and promoters to initiate a conciliation process and arrive at a mutual decision without going to court.
The CDR cell will have a total of five members, such as the ORERA secretary, a legal expert from ORERA, joint secretary (finance), ORERA, a representative from the Confederation of Real Estate Developers Association of India and from the allottees’ association.
ORERA has written to the housing and urban development department, asking for its post facto approval for operationalisation of the CDR cell, which though will not have any legal power to pass any order but will allow the homebuyers and promoters to discuss and resolve their issues.
The letter stated that RERA in those states have notified constitution of a CDR cell as an alternative dispute resolution mechanism for speedy and amicable resolution of disputes as has been insisted by the Supreme Court of India for bringing an alternative dispute resolution system.
