MCHI proposed Code of Conduct for realtors

By Nawaz Sayyed
“Every MCHI member has to follow new code of conduct otherwise have to face dire consequences”, Bomani Irani MCHI Secretary says
MCHI also sets up Consumer Redresser Mechanism

Mumbai: Kick-starting a Consumer Redresser Mechanism, The Maharashtra Chamber of Housing Industry (MCHI), the representative body of real estate industry, has decided to enforce a “Code of Conduct.” among its developer members.
Announcing this, MCHI President, Mr. Paras Gundecha said that the code of conduct aims to promote the highest standards of quality and service in the industry, apart from ensuring transparency and fair dealing among the Developers, Promoters and Customers. Besides, the 1,000 member body has also put in place grievance redressal mechanism to address issues confronted by customers.
MCHI has formally adopted the Code of Conduct at its 29th Annual General Meeting (AGM) held on September 13, 2011 in Mumbai. Present at the meeting were Shri. Subodh Kumar, (IAS), Municipal Commissioner, Municipal Corporation of Greater Mumbai (MCGM) and Shri V K Sharma, Director and Chief Executive, LIC Housing Finance.
Shri. Kumar, who released the “Code of Conduct” document, underlined the importance of the civic body and MCHI working in co-operation to address various issues that impacts sector. In his address he explained various measures that he is working to put in place to expedite the pace of clearances.
He said that he is keen to ensure a transparent system of approvals and clearances, where by any scope for discretion is minimized. This, he hoped, will ensure improvement in transparency levels.
Mr. Paras Gundecha, President, called upon MCHI members to wholeheartedly adopt the Code of Conduct, so that relations with all stakeholders become smooth and cordial. In this context, he emphasized on the Consumer Grievance Cell as a progressive measure towards ensuring self-regulation.
MCHI code of conduct deals with the five major clauses – Full disclosure on property title, agreement for sale on carpet area basis, possession details, any additional charges details and arbitration & mediation – These are aimed at bringing in more transparency in customer interaction. The code which has come into force from 13th September, 2011, governs all the projects commenced after this date, will see effective implementation of redresser cell to handle grievances.
Mr. Boman Irani, Honorary Secretary, presented the Annual Report for the year 2010-11. He informed members that MCHI had pledged to fully support Maharashtra Government’s goal of “Homes for All”, and asked members to rededicate themselves to achieve this goal.
There is a three member redresser committee, constituted by MCHI managing committee, which will suggest remedial measures to overcome hurdles and ensure speedy disposition of the customer grievances.

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