CREDAI T.N division to finalise the SOPs for building norms soon
The Confederation of Real Estate Developers’ Association of India (CREDAI), Tamil Nadu is working on the development of standard operating procedures (SOPs). These SOPs will be circulated among all its members to be adhered to in their construction work. This information was provided by Rajesh B Lund the President of CREDAI, Coimbatore.
There was a major tragedy which involved the death of nearly 60 persons that shook the state recently. The collapse of the under-construction 11-storey apartment building in Mouliwakkam near Chennai had woken up the authorities and they realised thatthe building construction norms are not followed at many construction sites.
Rajesh B Lund also mentioned that the association is working on developing “standard operating procedures” by a team of experts in Chennai. This would be circulated among all the members of CREDAI in the state to be adhered to in their construction activity. The expected timeline for the guidelines to be ready is two months.
Unfortunately the buyers were at the receiving end of the project as the flat buyers in Mouliwakkam project had paid much of the money to the developer as the building was close to completion. In this case the insurance company will only compensate the cost of the project in such cases. Unfortunately there was “no provision” where the insurance company would cover the buyer. May be in the future CREDAI needs to look into safeguarding the interests of the buyers too and cover them under adequate insurance covers.
Source- The Hindu Business Line
