Investing in real estate in India is one of the most common opinion that property experts give is to do due diligence on the real estate developer. It essentially means checking on the developers’ past property projects, quality of construction work, delivery schedules etc. Hence it is always cautious to invest in a real estate developer who is affiliated with a governing body such as CREDAI.
CREDAI stands for Confederation of Real Estate Developer’s Associations of India is a body of developers that have been established to regulate the real estate industry, promote development and transparency in all dealings. All members of CREDAI are required to follow a code of conduct which covers essential aspects such as launching projects only after getting all approvals, detailed area statements of the saleable area, terrace rights, uniform agreement clauses for all buyers, delivery as per commitment, conveyance of 100% UDS etc.
Here’s what you can do when feeling cheated by your real estate developer?
1) The initial step of redressal is to approach the builder directly. As most of the real estate developer is very customer oriented and would cheerfully support the buyer or offer compensation if wanted.
2) If the real estate developer is a member of CREDAI and in case he is not helping, the complaint can be taken up with the CREDAI Division in the city having the Customer Redressal Forum to find the solution. You can file a complaint online https://credai.org/register-your-complaint
- Once the claim is received, it is duly registered, serial numbered and sent to the members against whom the complaint has been submitted.
- He then has to respond within a specified time from the date of the receipt of the letter. In a situation when the response within the said period is not received then the case is to be brought to the notice of the Grievance Committee for action. The receipt of the comments from the Member, same shall be sent to the complainant.
- If considered necessary by the committee, the members of the committee may inspect the site.
- If the Complainant is not satisfied by the response of the Member and if an issue is not resolved the committee shall call both the parties for personal hearing and tries to solve the problem with a suitable order and close the matter.
3) While CREDAI is a governing body that works on a national level, there are also many such local bodies, who (if the builder is a registered member) can guide the consumer.
4) Consumers who have purchased property with non-CREDAI builders can approach the National Consumer Helpline (1800-11-4000) and website http://nationalconsumerhelpline.in/
5) Alternately, the buyer can also file a complaint against the illegal practices of the real estate developer before the Competition Commission of India which has been authorized to examine anti-competitive practices and impose strict penalties on the offenders. A fully working committee with a Chairperson and 6 members appointed by the Parliament and the commission, works towards protecting the legal rights of the consumers.
6) The last hope for an aggrieved consumer is to take legal action by filing a case in the consumer / civil/criminal court depending on the nature of the problem.