Published Paper Details:

In the paper titled "Navigating Legal Avenues: A Comprehensive Analysis of RERA, NCLT, and Consumer Redressal Commission for Homebuyers," the Author explores the legal terrain confronting homebuyers. Beginning with the historical evolution of remedies available to homebuyers which were fraught with bureaucracy and delays prior to 2016 to the advent of the Real Estate Regulatory Authority (RERA) in 2016 and the extension of access to the National Company Law Tribunal (NCLT) in 2018 ushered in a new era of transparency and efficiency in resolving real estate disputes. An attempt is made to analyze the legal frameworks of RERA, NCLT, and the Consumer Redressal Commission, assessing their respective strengths and limitations. RERA shines for its emphasis on efficiency and transparency, with case laws such as Imperia Structures Ltd. v. Anil Patni exemplifying its swift resolution of complaints. Meanwhile, NCLT offers a platform for collective action against financially distressed developers, despite challenges in insolvency proceedings. The Consumer Redressal Commission, operating under both old and new Consumer Protection Acts, provides a traditional yet accessible avenue for seeking redressal. The paper underscores the significance of informed decision-making for homebuyers, emphasizing the evaluation of project stage, builder's financial stability, and desired resolution. Recent legal developments, including amendments to the Insolvency and Bankruptcy Code, have strengthened homebuyers' legal protections, offering multiple avenues for redressal. The Research paper provides a roadmap for homebuyers navigating the complex legal landscape. By staying informed and considering the key features as detailed in the Paper, homebuyers can navigate the intricacies of the real estate market with confidence, ensuring timely and satisfactory resolution of grievances.