International Journal For Multidisciplinary Research

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Evolution of Various Legal Dimensions for Flat-buyers in Bharat

Author(s) Aditya Goyal, Ekta Gupta
Country India
Abstract This paper delves into the dynamic landscape of laws regulating the rights and responsibilities of flat buyers in India, tracing the evolution of the legal framework from its inception to the present day. The journey unfolds against the backdrop of India's rapidly growing real estate sector, characterized by its multifaceted challenges and opportunities. The study encompasses an in-depth examination of key legislations, judicial precedents, and policy interventions that have shaped the rights and protections afforded to flat buyers.
Beginning with an exploration of early property laws, the paper elucidates the factors that necessitated specialized regulations governing the purchase of flats and apartments. The advent of cooperative housing societies and the Real Estate (Regulation and Development) Act, 2016, marks significant milestones in this evolution, with an emphasis on consumer protection, transparency, and accountability. The analysis extends to the interplay between statutory provisions and evolving judicial interpretations, highlighting landmark cases that have influenced the legal landscape.
Furthermore, the paper investigates the impact of technological advancements, such as online property transactions and blockchain, on the legal aspects of flat purchases. It scrutinizes the role of digitization in enhancing transparency, reducing fraud, and expediting dispute resolution mechanisms.
The study also considers the challenges and gaps in the existing legal framework, offering insights into potential areas for reform. Issues like delays in project completion, ambiguous contractual terms, and the efficacy of dispute resolution mechanisms are examined through a critical lens. Additionally, the paper sheds light on the role of consumer awareness and education in empowering flat buyers to make informed decisions.
In conclusion, the Evolution of Law for Flat Buyers in India is a comprehensive analysis that not only maps the historical development of legal frameworks but also provides a forward-looking perspective on potential reforms and innovations. This research contributes to a deeper understanding of the legal dynamics surrounding flat purchases, offering valuable insights for policymakers, legal practitioners, and stakeholders in the real estate industry.
Published In Volume 6, Issue 2, March-April 2024
Published On 2024-04-30
Cite This Evolution of Various Legal Dimensions for Flat-buyers in Bharat - Aditya Goyal, Ekta Gupta - IJFMR Volume 6, Issue 2, March-April 2024. DOI 10.36948/ijfmr.2024.v06i02.18416
DOI https://doi.org/10.36948/ijfmr.2024.v06i02.18416
Short DOI https://doi.org/gtsnwg
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