Objects
The fundamental aim of the Code of Conduct for the CREDAI –AURANGABAD, is to maintain the honour and dignity of Promoters and Builders in general, to secure a spirit of friendly co-operation between the Promoters and Builders and their customers in the promotion of highest standard of Promotion, Development, and Construction activities and to establish honourable and fair dealing of the Promoters and Builders with their customers; and to establish a spirit of brotherhood in the Association of Promoters and Builders itself and to try and ensure that Promoters and Builders discharge their responsibilities to the community in general.
For the aforesaid objects the members of the CREDAI –AURANGABAD desire to adopt the following norms of conduct, both in letter and spirit. However, specific mention of the following norms of conduct/rules shall not be construed as conferring upon the members and / or the customers and / or the flat purchasers any legal right enabling them to enforce the same in Court of Law or otherwise.
If any member is found to violate the code suitable action can be taken against him by the Association even to the extent of his membership being discontinued; after a detailed enquiry by a select committee which recommendation if endorsed by the Managing Committee would lead to the termination of membership of the member.
Any such action taken by the Managing Committee shall be put into effect 30 days after communicating the decision to the member in writing by Registered Post at his address as per records of the Association. The member can appeal the decision of the Managing Committee to the General Body whose decision shall be final and binding. This appeal must be lodged within 30 days of the date of communication by the Managing Committee failing which the decision communicated shall be final and binding.
We, the Member of CREDAI AURANGABAD hereby undertake and agree to abide with and honour this Code of Conduct as approved by the General Body and as amended and agreed from time to time.
- TITLE
The property under development should have a marketable title and the Developer shall enclose a copy of the “Title Certificate” from a Solicitor/Advocate showing his rights, along with the Agreement for sale. - INSPECTION OF SANCTIONS
All sanctions from the sanctioning authorities like approved plans and commencement certificates, N. A. permission, exemption order under U.L.C. Act (if required) etc., should be made available for perusal of the purchaser. - BOOKING OF PREMISES
The Developer should commence booking/sale of flats/premises only after obtaining sanction of plans and commencement certificate from the concerned Municipal Authority/Planning Body and sanction/clearance under the Urban Land (Ceiling & Regulation) Act, 1976; if required, N.A. order, except in cases where finance is to be raised by mutual agreement. - AGREEMENT OF SALE
The Developer should enter into a proper agreement as per the relevant Acts immediately on receipt of Earnest Money from the purchasers of flats/premises. - PAYMENTS
Payments receivable under the Agreement for sale should be scheduled according to the progress of the work and as per the provisions of the relevant Acts or as may be mutually agreed between the Purchaser and Developer. - ESCALATION
The Developer should not enhance the price of the flats/premises once the agreement for sale is executed – or any account whatsoever; except for additional Government levies/taxes/court orders or in terms of the relevant Acts or under force major conditions. However, if there is a specific understanding between the Developer and Purchaser, escalation can be charged on mutually agreed formulae. - CONSTRUCTION OF BUILDING
The Developer should construct the building only as per the rules and regulations of the Authority and should not construct any unauthorized structures. He/it should not indulge in any illegal business activity. - QUALITY OF CONSTRUCTION
The Developer must ensure good quality materials and proper workmanship. Specifications as per agreements should be adhered to and statutory specifications of the Local Planning Authority should be complied with. Proper technical supervision on site should be ensured through qualified and experienced technical personnel in addition to usual qualified structural engineers and architects. - CARPET AREA
The carpet area of the flats/premises should be clearly and unambiguously defined in the agreement. - DESCRIPTION OF AMENITIES
All amenities and common facilities should be clearly mentioned in the agreement for sale and same should be complied with. - INFRASTRUCTURAL REQUIREMENTS
All conditions with regard to infrastructures as set out in the approval of the layout plan by Municipal Authority or Planning Authority should be fully complied with by the Developer. The building and its premises should be left in a clean and habitable condition. - TREE PLANTATION
Maximum tree plantation should be done near sites on the basis of at least one tree per 100 sq. mtrs., except where it is not possible in congested areas. - LABOUR WELFARE
Members are encouraged at large sites (more than 4,000 sq. mtrs.) to have crèches and educational facilities for the children of the labour, be provided along with other possible labour welfare activities, such as periodical medical check-ups, insurance, etc. - REFUND OF MONEY
In case the completion of the building is delayed beyond the period stipulated under the agreement for sale with the flat purchaser, the Developer should return all the moneys received by him from the flat purchaser, along with interest as specified in the agreement under the Maharashtra Ownership Flats Act, if so demanded by the purchaser. - POSSESSION
The Developer should ensure timely completion, physical possession, as committed to buyer. It shall be builder’s responsibility to obtain completion/occupation certificate. - DEFECT LIABILITY PERIOD
During the Defect Liability Period, the Developer should attend to bonafide complaints expeditiously. - SOCIETY ACCOUNTS/OTHER DEPOSITS SUCH AS STAMP DUTIES
The Developer shall maintain separate account in respect of sums received by him from the flat purchaser as Advance or Deposit, sums received on Account of the capital for promotion of a Co-operative Housing Society/Apartment Association or a Company or towards the outgoings, legal charges, etc. and shall utilize the said amounts only for the purpose for which they have been received. Such accounts should be given to the Society/Association/Company not later than 3 months from handing over the charge of the building to such Society/Association/Company, and / or within a period of 3 months from the date of final conveyance, whichever is later. - FORMATION OF A SOCIETY OR A BODY CORPORATE
The Developer should take steps for registration of Co-operative Housing Society or any other body corporate as may be necessary. - TRANSFER CHARGES
The Developer should not charge more than 2% of the purchase price for transferring the rights of the Flat Purchaser under an agreement for sale. Any such consent by the Developer to the flat purchaser for transferring his rights under agreement of sale should not be unreasonably withheld, provided the flat purchaser pays, and/or is ready and willing to pay full amount of consideration under the agreement for sale together with transfer fees as aforesaid and other dues payable. - TRANSFER OF TITLE
The Developer should not inordinately delay the execution of the Conveyance or any other similar instrument in favour of the common organization of the flat holder, after the development and sale of entire scheme and after all amounts payable by the purchasers are paid to the Developer. - HANDING OVER OF ORIGINAL CERTIFIED COPIES OF TITLE DEEDS, SERVICE DRAWINGS, ETC.
The Developer should at the time of transfer hand over to the Society/Apartment / Company all original title deeds and related documents as well as all plans of the buildings including all external service drawings and structural drawings. - MEDIATION IN DISPUTES
In case there be any dispute of any member of the Association with any person or flat holder or Government or Semi Government Body or Authority or Local Authority, and if the Association is asked to intervene, the Managing Committee of the Association will consider such request and decide in its absolute discretion whether to intervene or not depending upon the merits of the case and wherever possible the Association will make efforts to resolve the said dispute by amicable settlement or otherwise on merits of the case. However, any such mediation, even if it be with the consent/concurrence of both the disputing parties, shall not be construed as Arbitration under the Indian Arbitration Act. - MEMBER BOUND BY MANAGING COMMITTEE/GENERAL BODY DECISION
Any decision resolution pertaining to the Code of Conduct, that is taken or passed in the General Body Meeting or Managing Committee Meeting, is binding on the member of the Association, even if he has not attended the meeting provided that the item was on the agenda that was circulated.