A Real Estate Forum has been formalized by the MahaRera in association with Confederation of Real Estate Developers’ Associations of India (Credai), where the idea and formulation procedure was initiated by Rera, Credai reciprocated to the idea immediately and formed it. The forum came into force from February 1. The forum aims to resolve consumer grievances through conciliation, keeping in mind the increasing number of complaints which pointed towards the need for an alternative mechanism to settle these disputes. Since there is a provision under the Act which enables the formulation of a conciliation forum this was considered was a need of the hour and thus the conciliation forum came into force.

The conciliation panel will comprise of representatives of consumer organisations as Mumbai Grahak Panchayat, Pune Division as well as, that of Credai. The procedure to file complaint has been kept online so as to make it simple and convenient for the consumers. Once a complaint is lodged online the builder will be notified about the same through a text message and Credai will also be informed about the same. Now, it will depend on the builder, if he approves of settling the dispute through conciliation, the said complaint will be forwarded to the forum, and it will go to the RERA Authority, otherwise. The bench is expected to resolve disputes within 45 days from the date the dispute was referred to the bench, if not, the conciliation proceedings will be terminated and the parties of the dispute will have the liberty to approach MahaRera or the Court for settlement.