To ensure transparency in real estate dealings Chhattisgarh real estate developers have henceforth decided to follow code of conduct. Mr. Lalit Jain the national president of CREDAI (Confederation of Real Estate Developers Association of India) said that with consumers stressing on transparent dealings developers throughout the country have embarked on a mission to ensure transparency.
According to Anand Singhania, the CREDAI president of Chhattisgarh, following the drafting of the code of conduct by the apex body of CREDAI all member developers have been forthcoming in signing the declaration. A consumer redressal forum managed by the Confederation will be set up in Chhattisgarh. The code of conduct drafted by CREDAI will make it mandatory for developers to declare about the actual area or carpet area to be utilized to buyers, the compensation to be paid if the project gets delayed and to honour of the agreement signed between the buyer and the developer.
Moreover the developer has to provide true disclosure of the property under development in the ‘Title Certificate’ duly prepared by a solicitor / Advocate wherein the rights and obligations of the developers are shown and the sale agreement. Necessary sanctions obtained from respective authorities should also be provided to the purchaser
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