CREDAI chapters to be launched

CREDAI chapters to be launched (click the red link)

The Coimbatore, Trichy and Madurai chapters of the Confederation of Real Estate Developers' Associations of India (CREDAI) will be launched in Coimbatore on June 18.

President of the Coimbatore Property Developers' Association Ramesh Bafna and vice president V. Mohan told The Property Plus that the CREDAI Coimbatore website would be launched and the directory of CREDAI Tamil Nadu would be released during the programme.

The CREDAI was well-recognised by the State and Central Governments. “CREDAI is a National-level body and we are governed by its norms,” they said.

Property developers in Coimbatore should have minimum 50,000 sq.ft. built up area, delivered at least two projects and these would be evaluated for CREDAI norms for the developer to become a member of the confederation.

The Coimbatore chapter would cover Tirupur, Pollachi, Coimbatore and the Nilgiris. The local chapter of the confederation would focus on interaction with the public.

It would also create a redressal forum, offer skill development programmes and organise seminars on affordable housing and project development. It would insist on its members to use the CREDAI logo.

On the revival of demand in Coimbatore, they said, “Coimbatore has become a preferred city, a futuristic city.” Hence, the demand was growing in Coimbatore. However, customers preferred properties within the city limits and the land costs were high.

The mindset of the people should change for more projects to come up in the fringe areas of the city, they said.

Chairman of the event C. S. Ramasamy said the Urban Development Minister Parithi Ellamvazhuthi and the Minister for Rural Industries Pongalur N. Palanisamy would participate at the launch.