Track2Realty: The NCR chapter of realtors’ body CREDAI said on Saturday, April 13, it will direct developers to disclose both saleable and carpet area in their brochure and is considering measures to regulate brokers who are engaged in mis-selling projects. It also claimed to put a check on the secondary sell by speculators.
In this direction CREDAI-NCR plans to boost end-user demand in housing by imposing lock-in-period for re-sale and higher transfer charges.
Announcing the new team for 2013-15, CREDAI-NCR President-elect Anil Sharma, the Chairman and Managing Director of Amrapali Gtroup, said, “A new team has been formed. We will focus on consumer awareness and consumer redressal,” Sharma told reporters while listing out his priorities for the next two years.
CREDAI-NCR has already formed a consumer redressal forum last year and has so far received about 700 complaints and claims to resolve around 650 cases so far.
Asked about non-disclosure of carpet area by developers in their brochure and application form, he said: “We will ask our members to disclose saleable as well as carpet area and also method used for calculation of such areas”. The saleable area is built-up area plus common area, he added.
On the brokers’ mis-selling products, Sharma said, “We have come across situation where some of the brokers are not providing full information to buyers. The governing council will take up the matter how to regulate them.”
Asked about rates being lower in the secondary market compared with developers’ price-list, Sharma said this is because of investors selling their units with some premium.
In order to curb investor demand and encourage end-user demand, he said the association would consider steps like lock-in-period for re-sale and higher charges for transferring the property on some other name.
