NAREDCO asks builders to fulfill promises made to home buyers within a reasonable time frame

New Delhi, April 29, 2016: NAREDCO (National Real Estate Development Council), the apex national body for the Real Estate Industry, today appealed to all its fellow members to fulfill their commitment made to home buyers in their various projects in a transparent manner.

NAREDCO President Parveen Jain asked all fellow developers, whose projects are delayed and buyers are agitating, to set with buyers and workout a time frame for delivery and fulfill the commitment made to them. “It’s a confidence crisis for us. We have to win over the confidence of buyers”, he said.

Citing Amrapali and Supertech examples, Mr. Jain said all NAREDCO members should adhere to building bye laws, rules and regulations in a fair and transparent manner to gain the confidence of home buyers.

Though Parliament has passed the Real Estate (Regulation and Development) Act 2016 and though it’s still to be notified and implemented, we must stand committed to the written promises made to the home buyers, Mr Jain said.

Once the Act is implemented as designed, things would be easier for builders as well as developers. We have to gear up with changing times. Mr. Jain said.

A customer can no more be taken for granted. A customer is king for us and will continue to be the king in our scheme of things, Mr. Jain said, adding that some financial discipline would help in timely completion of the projects and timely handing over possession to the buyers. He, however, appealed to Govt. to sort out the issues related to single window clearances at the earliest, so that when Act is implemented, developers do not have to run around for project clearances.

Corporate Comm India (CCI Newswire)