CREDAI may implement code of conduct for members
The Confederation of Real Estate Developers Association of India (CREDAI), Andhra Pradesh chapter is likely to implement a code of conduct for all its members in the state. This was announced by C Sekhar Reddy, vice-president of CREDAI (president of the AP chapter), at a conference held in Hyderabad on Friday to discuss the many challenges facing the real estate industry.
CREDAI Andhra Pradesh chapter may implement code of conduct for members in the state, wherein developers, recognised by CREDAI (AP), will have to abide by a set of rules laid down by the national body.CREDAI is also slated to set up a consumer redressal cell in AP to ensure transparency in the dealings of the sector.
“We have embarked upon a `mission–transparency’ and hope to achieve it through this code of conduct, which is already in place in states such as Tamil Nadu. It will help protect the interest of the consumer and also enhance the quality and standard of delivery of a product.” said Lalit Kumar Jain, president of CREDAI. Jain said that the government too must play a larger role to ensure better growth of the realty sector in India.
Talking about the impact of recession on the realty sector Jain said that the market has stabilized post August 2010 and is likely to see another upswing in the next two years. “The situation in AP too has improved October onwards,” C Sekhar Reddy, vice-president of CREDAI (president of the AP chapter) said in reply to questions pertaining to the state adding, “In fact there is a shortage in the old Municipal Corporation of Hyderabad area.”
Also present at the meet were T Chitty Babu, president, CREDAI, Tamil Nadu, G Yoganand, general secretary, CREDAI-AP and P Rama Krishna Rao, managing director of Hyderabad-based Manbhum Constructions Pvt Ltd.
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