After taking over the charge, CREDAI-UP President Mr. Sanjay Seth outlined the goal of the organization in times to come as follows:
- 1. To create healthy and better scenario in the real estate Industry.
- 2. To implement the law of the land to the maximum extent.
- 3. To bring transparency and promote fair business practices among the members of CREDAI-UP, remedy the grievances of the home buyers I a fair and speedy manner to improve the credibility of organization.
- 4. To make efforts in the simplification of the tax structure in the country.
What is Code of Conduct which is being followed by CREDAI and what do you think of them?
Members of the CREDAI-UP has to follow the Code of Conduct which each member had signed in token of its acceptance at the time of joining CREDAI-UP and is being followed by each of them. To bring in the translucency and uniformity in the system Code of Conduct has been formulated. The Code will help the homebuyers to fairly evaluate the proposals of the developers before they decide to buy a property. Besides, CREDAI-UP also redress consumer grievance to resolve all disputes between its members and their respective customers. It is a matter of pride that the Grievances Cell has received very good response and CREDAI has been able to resolve more than 90% cases those have been received.
What is your opinion about the Affordable Housing Policy which is the thing at present? What steps are being taken by CREDAI-UP to promote the same?
Cost factor is the main ingredient in the affordable housing and it has to be reduced. Major cost factors of a affordable housing project are land, taxes, easy availability of finance at reasonable rates and speedy implementation of the project. Land cost being very high in “A” and “B” grade cities, only way to reduce its cost is to permit higher FAR and density by the development authorities. Meticulous planning is required by the local authorities for implementation of adequate infrastructure facilities. Various taxes are imposed by the central and state government, which make the project cost very high and they need to be softened. The tax system varies from state to state and is difficult to be implemented and they also need reconsideration. Taxes contribute majorly to the cost. Tax system need to be simplified and single taxation source should be encouraged. The financial institutions should provide easy finance at reasonable rates and they should work towards a system which will ensure that the finance provided is utilized for construction of affordable housing in reasonable time.
Environment rules are coming down very hard on the real estate projects. How does CREDAI-UP plan to raise these grievances with the respective authorities?
Compliance of the environmental regulations is necessary in order to preserve our scarce natural resources and to provide a clean environment. CREDAI Members are very keen to follow the norms in order to honor the government directions and to safeguard the environment. CREDAI members are totally against the redundant approvals and red tapeism. Uniform norms should be there across all the states. The rules should be simplified and made practical. There are certain norms which need implementation at the local body /local surroundings level and certain specifically at the project. The builder should be made responsible for implementation of the project specific norms only and not beyond. Besides clearance/approval of environment before the commencement of construction activity is very time consuming which adds to the cost and delays the project implementation. Incentive for the green building project are a welcome step and CREDAI-UP will promote this initiative.
What steps CREDAI-UP will take to address the concerns of your members on the increasing trends of raw materials in the difficult market conditions?
CREDAI at the most can try to share relevant information on new methods and practices on construction with its members and also identify preferred suppliers. It has no control to check cost of inputs and members procure their inputs in great competition.
What are the primary areas of work that your leadership of CREDAI NCR wishes to focus on over the next year?
- 1. Efforts will be made to reduce the clearance time and stress provision of Single Window Clearance by the agencies.
- 2. Bring complete transparency with the customer by following professional business practices and improve the credibility of the real estate sector with the customers and the government. Try increase the number of Affordable Housing and Eco Friendly Projects.
- 3. Make efforts to bring down the burden of taxes on the real estate sector and by involving higher number of tax payers to give growth to the tax revenue and also to provide job to the deserving members of the society and create additional jobs.
- 4. Ensure implementation of environmental norms and undertake CSR activities.