Comments
As part of measures to resolve consumer complaints expeditiously, the Confederation of Real Estate Developers Associations of India has set up a ‘code of conduct' for its members.
Delay in possession of house, failure to meet commitments, additional demand of money over agreed value and ambiguity over sold areas are some of the common complaints against builders.
Main concern
“The primary concern of the consumer is transparency and accountability. Many middleclass customers carry the perception that the developers are not answerable and that the only recourse is litigation,” said Mr Pankaj Bajaj, President, Confederation of Real Estate Developers Associations of India – National Capital Region (CREDAI NCR).
CREDAI, the apex body of real estate developers with over 8,000 members, is now banking on peer pressure amongst its members to resolve consumer complaints.
Self governance
All its members have signed a code of conduct which is a self-governing mechanism requiring them to adhere with prescribed levels of transparency with their customers.
Apart from committing to being transparent with the customers on area calculations, approvals status and specifications, the code requires the developer to declare upfront the compensation in case he delays in delivering the project within the committed timeframe.
More teeth
To give teeth to the code, CREDAI has launched a Consumer Grievance Redressal Forum where any member of the buying public can lodge a complaint against a CREDAI member.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.