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MEMBERSHIP GENERAL INFORMATION
1. Title and definition:
Confederation of Real Estate Developers Association of India, INDORE (CREDAI INDORE) is an association of builders registered under the Indian companies Act1956. CREDAI Indore is the chapter of the CREDAI National. Membership is open to all persons engaged in the profession / business as Builders.
CREDAI is essentially meant to promote the interest of builders and with that in view, regular promotional activities like exhibitions and property shows are conducted, within the country and abroad to market the projects of member builders. The basic idea is to provide visibility to member builders and send positive signals around.
The authority is vested with the Ex.Committee (EC), to give membership to any builder. The intending member will have to apply in the prescribed application form along with the required details called for in the form.
4. Admission of members:
The Membership Committee will consider the application and forward to the Exe. Committee for approval. The admission is considered for one year provisional membership with a provision to review after one year for admitting as permanent member. Every member, whether permanent / provisional, will have equal privileges but for voting rights which are reserved only for permanent members.
5. Criteria for Selection:
a) Builder of reputation having credible record of quality constructions b) Back ground of professional & business ethics c) Financial status of the firm (Financial statement from Bankers or Chartered Accountant to be attached along with the application.) d) The applicant should have completed: (i) Minimum of 5000sq.metres for applicants within the State. (ii) Minimum 30000 sq. meters for applicants from outside the State.
6. Other documents to be submitted with Application:
(i) Profile of the Firm & Directors with details of other business. (ii) Brochure /leaflets on completed and ongoing projects. (iii) Brief report on projects in hand. (iv) Reference from Bankers, Chartered Accountant. (v) Brief report on the organizational set up of the applicant. (vi) Copy of the completion certificate of completed projects. (vii) Details of membership in any similar associations/ CREDAI chapters if applicable.
7. Statutory Payments:
Members have to make the following statutory payments as applicable at the time of admission. a) Entrance Fee b) Annual Membership Fee c) Website linking charges In addition, a building fund @ 50 Paise per sq.ft of saleable area of the project is to be paid by the members for all the on going projects and for projects to be launched in future. Members are requested to furnish the details of the projects to the association as and when applicable All payments shall be in favour of CREDAI INDORE payable at (PLACE).
As a member of CREDAI INDORE you are expected to follow certain norms.
1. You are expected to conform to all modern engineering, construction, and marketing and management practices and be transparent about the policies.
2. Ensure that the logo of CREDAI INDORE is displayed on all advertisements in the Print, Electronic Media and Hoardings put up by the member for promotional activities as indicated in the logo details furnished by CREDAI INDORE.
3. To clear all dues and subscriptions to the Association as per schedule.
4. Provide proper information for the common benefit of the Association.
5. Work for mutual benefit and strive to enhance the name and prestige of the Association.
6. Inform the Association the details of new project launches for updating the records. (a) Name of the project (b) Location (c) Saleable area (d) Brief description along with brochures.
7. Members are requested to contribute @ 50 paisa per sq.ft towards Building fund for all ongoing projects at the time of admission and for new projects to be launched in the future. The fund will be utilized for the construction of building for CREDAI INDORE. Members are requested to furnish the details of the projects to the association as and when applicable.
8. It is mandatory that all the pending dues to CREDAI INDORE should be cleared by the member before taking part in any exhibition organized by CREDAI in the country or abroad.
D O N T ' S
1. Refrain from unhealthy competition and promotion to sell projects. This has to be strictly followed during the Property Expo conducted by CREDAI.
2. Exhibitions conducted by CREDAI promote only building projects and do not allow marketing / advertising of housing plots or land.
3. Avoid misleading advertisements especially that mark the reputation of CREDAI.
4. Do not indulge in slanderous and willfully wrong pronouncements about fellow members of the Association.
Note: If any member is found to violate the norms, suitable action can be taken against the Member by the Ex.Committee of the association leading to the termination of membership.
Privileges & Responsibilities
The members of CREDAI INDORE are privileged to enjoy the benefits accruing to the association having its objectives as under.
a. To constitute and maintain an organization to promote, protect and safeguard the interest of all those engaged in business or profession as builders and property developers.
b. To establish cordial relations and contacts with builders /developers and also have co - operation with similar associations within and outside the state.
c. To promote standardization in construction activities and business practices among the members.
d. To organize, establish and start centers for research in co-operation or in association with bodies having similar objectives and / or under the auspices of the society for the benefit of members and the public.
e. To diffuse among the members information on all matters affecting the Real estate and building industry and to encourage, assist and extend knowledge by holding lectures, conferences, seminars, exhibitions and other programmes and also by publication of papers, periodicals or journals, books, circulars or other literary activities or in any other manner.
f. To take appropriate steps to bring the members into frequent contacts with one another and to unite the members in the bonds of friendship, and mutual understanding.
g. To make suitable representation to the Government on matters affecting the building industry as and when necessary.
h. To encourage adoption and promotion of fair business practices according to the ethical code of conduct, transparency between developers, builders and their Customers.
i. To conduct Exhibitions, and other promotional activities to develop the public awareness of the building industry/or any other trade that may be decided by members for time to time.
j. To form Dispute Redressal Forums for the settlement of disputes with the customers of members, with other agencies and among the members themselves.
k. To engage the services of lawyers, counsels, solicitors and experts in any matters of Interest
l. To engage in any charitable activities for the welfare and betterment of the society and /or engage in activities which provide meaningful employment for the weaker sections of the society.
Privileges & Responsibilities
Membership is deemed to be terminated if the dues from a member fall in arrears for more than six months. Membership shall also be terminated on grounds of immoral business practices, lunacy or committing any offence involving moral turpitude.
Any member immediately on resignation/cessation or termination of membership, shall refrain from using the word 'Member CREDAI' and the 'Logo of CREDAI INDORE' as a prefix /suffix in their stationeries promotional materials / or advertisement both in press & electronic media with effect from the date of resignation/termination of membership.
To become a member of Credai INDORE, please click here for the Application Form. You may download this and get in touch with our office below :