CREDAI is coming up with new system for Real estate developers in Chhattisgarh. They will have to follow way to ensure transparency in the dealings of the sector. “The sector has been under the scanner of customer and the real estate developers across the country are on one operation, that is ‘transparency’ and hope to achieve it through the code of way initiated,” National President Lalit Jatin of CREDAI said.

The members in the state were prompt and had signed the declaration to follow the new rule drafted by the apex body of the real estate developers. The state will also have a consumer redressal forum managed by the Confederation. Under this new system, it would be compulsory for the developers to mention the actual usage area to buyers, reimbursement in case of project delay and honouring of the agreement between the two parties, said Anand Singhania, president of Chhattisgarh Chapter of CREDAI.

Moreover, there should be a true revelation of the property under development in the
“Title Certificate” from a solicitor or an Advocate showing the rights and obligations of the developers along with the Agreement for sale. All sanction from the sanctioning authorities like approved plans and starting certificates, should be made available for scrutiny of the purchaser at the time of signing the agreement.

The members will have to follow set of rules laid down by the national body. “If any member defy them, would be removed from the Association,” Jain said, also added that they would appeal people not to buy any property from the developer
who was not a member of CREDAI.