CREDAI Launches Anti-Corruption Campaign
The Confederation of Real Estate Developers Association of India (CREDAI) has taken a firm stance against corruption by urging its members to refrain from bribing officials. This policy comes in response to mounting allegations of corruption within the real estate sector.
Addressing Corruption Concerns
With over 10,000 members, CREDAI, a prominent body of real estate developers, acknowledges the accusations of bribery among its ranks, particularly concerning project clearances. These allegations have caused significant distress among real estate builders. During the Barcelona National Convention, CREDAI President Lalit Kumar Jain addressed these concerns. Mr. Jain stated that developers have faced enough false accusations regarding corruption. Although the convention concluded, it is anticipated the impact of the convention will be felt for years to come.
CREDAI's "All-Out War" Against Corruption
Mr. Jain declared CREDAI's commitment to an "all-out war" against all forms of corruption. He referenced a survey conducted among developers, indicating positive feedback and a resounding "No" to corruption, culminating in a collective pledge: "Together, we shall." The organization also pledged to expose those officials seeking bribes by reporting them to court when necessary.
Call for Administrative Reforms
The CREDAI President highlighted the extensive delays, often spanning 1.5 to 3 years, in land allocation for project commencement. These delays, he explained, contribute to approximately 40% of the sale price. He called for administrative reforms to address and eliminate corruption, emphasizing the government's role in initiating these changes.
Mission Transparency and Grievance Cells
Mr. Jain also announced the success of CREDAI's "Mission Transparency" initiative, which has gained significant traction among developers nationwide. Many developers have adopted CREDAI's codes of conduct. Further strengthening their commitment, CREDAI's city and state units will establish grievance cells to address consumer complaints effectively.