As a part of monthly Consumer Conversation Series, Consumer VOICE organized the 6th seminar on the topic of ‘Real Estate Consumer Protection’ on July 21st, 2017 at Gulmohar Hall, India Habitat Centre.
1. Divya Jyoti Jaipuriar, Advocate & President, Consumer Disputes Redressal Forum, South West District, Delhi
2. Pawan Shree Agrawal, Senior Advocate, Supreme Court of India
PROTECTING THE REAL ESTATE CONSUMERS: Get real knowledge about real estate
Are you looking for a new property but not sure whom to trust? Do you feel safety of consumers is compromised by real estate agents in a bid to formalize deals? Consumers are prone to a lot of vulnerabilities. There are innumerable chances for such agents to indulge in certain malpractices at the cost of fidgeting with the safety of the consumers. They may lure the consumers into buying a plot of land which is below the agreed standards by means of misrepresentation or flashy advertisements. Consumers may even become victims of fraud or deception at the hands of real estate agents.
Though progressive, the real estate industry is immensely unregulated. Consumers are exploited by taking advantage of these limitations that plague the real estate industry.
There are 3 reasons for the necessity of Consumer Protection in real estate industry:
- Since Real Estate Business involves a large amount of money therefore, malpractices against consumers would result in large amounts of losses for them. On the other hand, consumer protection would benefit enormously to the consumers and is in their best interests.
- The Real Estate Industry is controlled by real estate agents. When governments formulate policies to improve the real estate industry they ask people who represent real estate agents. They rarely ask people who represent consumers. Therefore the consumers have no say in formulation of policies that regulate the industry. And thus, builders take advantage of this and dupe innocent consumers.
- Consumers lack knowledge. Lack of knowledge and information on part of consumers about the industry also causes them to be exploited. They are misinformed, cheated and often end up losing large amounts of money at the hands of fraud agents because of such lack of information.
So if you are looking for answers on consumer protection in the real estate sector and how not to be duped by agents, then here is a chance of a lifetime for you. The next series of Consumer Conversation Series by Consumer Voice at India Habitat Centre (Gulmohar Hall), Lodhi Road on 22nd July 2017 will answer all your queries and clear your doubts. There will be a Consumer Help Desk as well headed by Mr Sajjan Jindal, Advisor Real Estate of Consumer Voice.
The session began at 6:30 PM with tea & networking, followed by Introduction & Opening speech by Mr Ashim Sanyal, COO & Secretary, Consumer VOICE. He elaborated as to why in this era of oscillating property prices & trembling global economy, Consumers need to have proper information about their rights before they buy real estate so that the scrupulous builders & agents cannot fool them with dubious schemes & false promises.
After the introduction, the panel comprising of Mr Pawanshree Agrawal, Advocate – Supreme Court of India, Mr Divyajyoti Jaipuriar – President, Consumer Disputes Redressal Forum, South West District, Delhi & Mrs Priyanka Mathur Sardana, Advocate – Supreme Court of India was welcomed on stage. Mr Agrawal talked briefly about the rights of real estate consumers according to Consumer Law, post which Mr Jaipuriar gave an introductory presentation about new Real Estate Consumer Protection Act. Lastly, the industry expert Mrs Sardana shared her experiences of fighting cases at the National Consumer Disputes Redressal Commission.
Mr Sanyal also informed the audience that VOICE has a Real Estate Help Desk called ‘B-Free’. He thereby informed them about the services of this desk and how they can be available to anyone in need. A diverse audience comprising of enthusiastic participants from different backgrounds asked questions to the experts on the various aspects of Real Estate Law & expressed interest for more information that helps being aware about their rights.
At last, the session ended with note of thanks to panellists & audience. Thereby, the panellists were felicitated by Prof Sri Ram Khanna and copy of July issue of Consumer VOICE magazine was also distributed to the audience for more information.