Builder body Naredco asks members to fulfill promises made to home buyers within a reasonable time frame

NEW DELHI: Real estate industry body National Real Estate Development Council (Naredco) has appealed to all its members to fulfill commitments their firms have made to

home buyers in their various projects in a transparent manner.

Parveen Jain, the president of Naredco asked developers, whose projects are delayed and where buyers are agitating, to sit with buyers and workout a time frame for

delivery and fulfill commitments made to them.

"It's a confidence crisis for us. We have to win over the confidence of buyers," he said.

Taking the example of Amrapali and Supertech, Jain has asked all NAREDCO members to adhere to building bye laws, rules and regulations in a fair and transparent manner

to gain the confidence of home buyers.

Jain said that though Parliament has passed the Real Estate (Regulation and Development) Act and though it's still to be notified and implemented, builders must stand

committed to the written promises made to home buyers.

"Once the Act is implemented as designed, things would be easier for builders as well as developers. We have to gear up with changing times," he said.

"A customer can no more be taken for granted. A customer is king for us and will continue to be the king in our scheme of things," he said.

"Some financial discipline would help in timely completion of the projects and timely handing over possession to the buyers," Jain said.

He, however, appealed to the government to sort out the issues related to single window clearances at the earliest, so that when the Act is implemented, developers do

not have to run around for project clearances.

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