In a recent development within the Visakhapatnam sector, the Confederation of Real Estate Developers’ Association of India (CREDAI) has stepped in to mediate conflicts arising between buyers and builders. This initiative took place on Thursday when CREDAI accepted the pivotal role of arbitrator in these ongoing disputes.
As part of this endeavor, a comprehensive code of conduct has been officially introduced, as declared by the national president of CREDAI. Originally initiated by the Visakhapatnam chapter, this code represents a proactive measure aimed at fostering self-regulation within the industry. The formal unveiling of this code outlines a set of dos and don’ts specifically designed for member developers and builders affiliated with CREDAI.
During the welcoming address, K. Subba Raju, the chairman of CREDAI, emphasized the organization’s commitment to overseeing that all members strictly adhere to the 27 established guidelines within the code. He expressed confidence that enforcing these regulations would enhance trust and reliability within the real estate sector.