Confederation of Real Estate Developers’ Association of India (CREDAI) on Wednesday said it has made mandatory for all members of the association to mention carpet area in their brochures and sale agreement, aiming to bring in transparency in the sector.
CREDAI, which has over 10,000 builders as member across the country, has decided that in the next six months all the members would individually sign a Code of Conduct. The major highlight of CREDAI’s Code of Conduct are – mentioning the actual usage area to buyers (Carpet area), compensation in case of project delay and honouring of the agreement between the two parties.
“We will ensure that all the CREDAI members sign the Code of Conduct within six months. In Code of Conduct, we have made mandatory for members to mention Carpet area along with super area,” Credai Chairman Pradeep Jain said.
