Covered car parking dispute
I have purchased and taken possession of an Apartment from reputed builder in Chennai. I have paid separately for two car parks and are mentioned as covered car parking in the agreement where as upon possession, it is realized that there is an OTS opening above the car parks and has the potential for objects falling as there are windows along the wall above. The builder is not agreeing to cover the opening above the car parking. As per agreement the dispute has to be resolved with Arbitration and Conciliation Act 1968. What is the remedy available?
As mentioned by you the agreement specifically provides for dispute resolution through arbitration. In that case you must give a notice to the other side to initiate arbitration proceedings. There may be either one arbitrator as mutually decided by both the parties. Or there could be three arbitrators (panel). Once the panel is formed, the panel will determine its procedure, and as per the procedure go ahead with the dispute. Both the parties will be given hearing and will be required to submit their respective claims. Thereafter the panel will give its award which will be binding upon both the parties.
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