By Accommodation Times Bureau
In a move to provide more solutions for consumer grievances the (Confederation of Real Estate Developers Associations of India) members of National Capital Region (NCR) has proposed a new set of rules. Now-a-days consumers are facing several problems mainly delay in possession, unfair trade practices, excess money demand over agreed value and ambiguity over sold areas.
Mr. Pankaj Bajaj, President, Confederation of Real Estate Developers Associations of India – National Capital Region (CREDAI NCR) said that, “our prime concern is consumer satisfaction transparency and accountability. Many middle class customers carry the perception that the developers are not answerable and that the only recourse is litigation which is a long drawn and messy process.”
The Confederation of Real Estate Developers’ Associations of India (CREDAI) is the apex body for private Real Estate developers in India. CREDAI represents over 6,000 developers through 18 member associations across the country. According to the Bajaj the concept of introducing code of conduct is to segregate fair developers from fly by night operators in a sector which has been maligned for its opaqueness.
The fundamental objective of the CREDAI NCR’s Code of Conduct is:
•To promote the high standard of real estate development and construction activities so as to promote transparency in system;
•To maintain the honor and dignity of Developers in general and to secure a spirit of friendly co-operation between the Developers and their customers;
•To establish honorable and fair dealing of the Developers with their customers;
•To promote brotherhood amongst the members of the Association;
•To ensure that Developers discharge their responsibilities to the Society in a fair, transparent and efficient manner.