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CREDAI presents a new code of conduct for developers in India

CREDAI presents a new code of conduct for developers in India.

The Confederation of Real Estate Developers Associations of India (CREDAI) has accepted a new code of conduct with the aim of resolving complaints about the house buying process.CREDAI has over 8,000 members, who are required to sign a Code of Conduct which is a self governing mechanism demandingfairnessin transactions.

Most consumerswish for transparency and accountabilityand among the most common complaints are a delay in taking possession of a property, failure to meet commitments and additional moneydemanded above the agreed price.

The aim of the new conduct is to differentiate good developers and fly by night operators in a sector which has been maligned for its opaqueness.

CREDAI has also launched a Consumer Grievance Redressal Forum where any member of the buying public can lodge a complaint on the CREDAI websiteagainst any of its members.The Forum has a panel of experienced developers and legal experts who decide on the complaint. Complaints can be lodged. There is also an advertising campaign to increase awareness for the code.

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