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Arbitration means the usage of a mediator or arbitrator for settling or solving any legal dispute.
Arbitration means the hearing, determination, and settlement of any legal dispute between the parties by any individual or mediator. This also means applying legal/judicial mechanisms by suitable authorities for settling global disputes.
As can be seen, arbitration is a process of using an arbitrator or authority to settle a dispute between parties. This is applicable to the real estate sector as well. Based on the regulations of real estate authorities or housing authorities, there are often legal disputes between developers/builders and buyers, agents and buyers, and builders and Government organizations. This often necessitates legal arbitration or external mediation before going to Court.
