CREDAI Opens Up to Red Tapism

Delhi/NCR, October 13, 2015: In a recent spurt of events, a very prominent builder Shri Suraj Parmar, CMD, Cosmos Group committed suicide in a sample bungalow at one of his upcoming projects in Kasarvadavli. The suicide note left behind states that he was fed up of alleged harassment from various government departments and their repeated demands for bribes. Shri Suraj Parmar was also the President of Thane chapter of Maharashtra Chamber of Housing Industry (CREDAI-MCHI). In protest to this, CREDAI Western UP has decided to stay closed on 13.10.2015 along with all it’s member developers which will also include closure of offices, sites office, registration and all construction work.

The uncertainties looming over the completion of his projects, had resulted in mounting financial burdens on him. Developers need around dozens of approvals and permissions before starting a real estate project and many certificates post completion as well. Each approval and certificate necessitates dealing with a number of government authorities and this entire process takes about 2-3 years resulting in the projects suffering with cost overrun and unavoidable delays.

Shocked and aggrieved over this, Mr. Deepak Kapoor, President, CREDAI – Western U.P. said, “This has come as a real shocker for all of us in the developers’ fraternity and honestly speaking, things should have never come down to this. We work day in and day out to fulfil the shelter needs of millions and this is credibility cannot be taken away from us. Also, this incident has brought forward the harsh realities every developer has faced at some point or the other. In a sublime protest to this, we at CREDAI along with all our member developers have decided to stay close on 13.10.2015 to express our solidarity to Mr. Parmar and stress on the need of a single window clearance system for the real estate sector.”
Corporate Comm India(CCI Newswire)