About the Blog
Real Estate sector in India contributes approximately 6-7% share in the GDP thereby making it an essential for the holistic development of the Indian economy. The government of India has introduced several policies in order to promote this industry and ensure that every citizen of this country is living in a decent habitation. In this series we will analyze these schemes and bring to you interesting findings about them and their impact on real estate industry. We will also understand how law interact with these policies and safeguard the interest of home-buyers.
Development of Dispute Resolution in the Real Estate Industry: Safeguarding Home Buyers Interest by Shiv Sang Thakur and Parth Seth
Real Estate is the third largest contributor to the economy in India. With over 75–80 per cent share in the total real estate market size in India, housing industry remains one of its prominent sectors and the largest housing market in the world. Despite such developments, this sector is unable to meet the supply-demand nexus. Real estate dispute is one of the prominent reasons for such downfall leading to delay in completion and possession of a project leading to builder-buyer disputes. It becomes imperative to find better dispute resolution methods which can provide relief as expeditiously as required considering the delay in judiciary. This article attempts to analyze the different form of dispute resolutions for real estate industry to provide optimum results for settlement between buyer and developer bringing expedite redressal of grievances, security, transparency, and timely possession of the project.
Critical Analysis of Atal Mission for Rejuvenation and Urban transformation and the need to revamp the scheme by Anusha G Rao
The article is a constitutional critique of the current urban housing infrastructure policy in India with a special focus on the Atal Mission for Rejuvenation and Urban Transformation (AMRUT). It critically analyses the role of the scheme, loopholes and the need for a revamp in order to cover core issues of urban infrastructure in the backdrop of the COVID-19 pandemic. The article also analyses the lack of focus in the schemes towards basic human rights issues of forced evictions due to natural disasters and land acquisition, lack of rehabilitation and access to justice, and the perception of slums as ‘illegal ghettos’. In the concluding remarks, the author gives suggestions to amplify the current social benefit policies of Ayushman Bharat and the Technological venture of Innovation hubs in order to accommodate supplementary issues of health and nutrition arising due to the pandemic. The idea is to re-make AMRUT into a holistic-development policy, suiting current day requirements.