CREDAI Bengaluru Members to Halt Operations for a Day

surajparmarBy Accommodation Times News Services

Bangalore, October 12th, 2015: Members of CREDAI-Bengaluru will close all its offices and registration tomorrow as a mark of respect and solidarity to Late Mr. Suraj Parmar of the Cosmos Group in Mumbai, who has tragically ended his life recently. This extreme step has been taken by him due to harassment from the bureaucracy and the political parties, in relation to work being done in the field of real estate.

Mr. Parmar was a well-known name in the field of real estate across Thane – Mumbai region of Maharashtra. His company maintained an extraordi- nary record in terms of the quality of work, timely deliveries of homes for over 15 years. He could do all these in the face of numerous obstacles created by a loophole ridden governmental system. Cosmos Group is one of the few zero debt companies in the country right now and  the tragic demise of Mr. Parmar is a massive loss to the industry.

Mr. Parmar’s suicide note highlighted several ways in which the government has been apathetic to the needs of the industry. Some of these are:

• Endemic delays in securing approvals

• Rejection of plans with retrospective effect

• Political interference

• Endless delays in implementation of governmental policies

• Whimsical regulatory changes during an ongoing project

• Retrospective application of new regulations

CREDAI and its members, in a move to make an urgent appeal to the administration, will shut down operations across all member companies

tomorrow, 13th October, 2015. A protest march by all the members of CREDAI, Bengaluru will be held from Town Hall, starting at 11:00 am.

The demand is primarily to foster an atmosphere of trust and mutually beneficial systems of functioning. The objective of this Protest March is to

highlight that such tragic incidents do not occur again and that ease of business is ensured across the board in the real estate sector.

Commenting on this issue, Mr. Nagaraj Reddy, President CRE- DAI-Karnataka said, “It is tragic that a member of our fraternity took

such a drastic step owing to difficulties posed by governmental apathy in real estate. With this protest, we want the government to take note of the

obstacles that exist and create an enabling ecosystem which will ensure seamless functioning in the sector.”





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