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CREDAI comes up with Grievance Redressal Forum
| January 9, 2009 |  (Be the first to rate this story!) Loading ... |
To provide real estate promoters and customers a platform for resolving disputes, the Tamil Nadu chapter of the Confederation of Real Estate Developers’ Associations of India (CREDAI) has set up a grievance redressal forum. Speaking to TOI, Prakash Challa, president of CREDAI Tamil Nadu, said, “It will be a four-member committee but as of now we have appointed only three members S C M Jamaldeen of Jamals Housing (he is also vice-president, CREDAI), Sumanth Subramaniam of Sumanth and Co. (treasurer, CREDAI) and M S Rajamanickam of Vasanth Builders. The fourth member will be appointed soon. The decision to set up such a committee was unanimously taken by CREDAI members at our last meeting on December 30.”
The committee will handle complaints preferred by customers against promoters who are members of CREDAI. Disputes will be resolved through consultations in the shortest time possible and the decision taken by the committee will be binding on builders as well as customers. However, not all builders in Tamil Nadu are members of CREDAI. There are at least a dozen other associations formed by builders in Chennai and other parts of the state. To validate the committee, an arbitration clause will be built into all agreements signed in future between CREDAI members and their customers. The dispute redressal committee will also levy a fee for its service, said Challa. In case the committee members confront situations where there is not much clarity in the agreement between the promoter and the buyer, the customer will get the benefit of doubt, he said.
On the need to introduce a dispute redressal mechanism by the builders’ forum, Challa said, “We get many complaints from customers. If these issues go to courts, it will take a lot of time for settlement. Further, CREDAI’s objective is to ensure a high level of transparency and fair practices in property transactions. Our members mooted the idea of forming a dedicated forum to handle disputes about a year ago but only now are we able to achieve it. All the members are signatories to this decision.”
News Published Under: Chennai |
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