MCHI frames code of conduct for developers
With the state government cracking its whip on builders in the last few months, the Maharashtra Chambers of Housing Industry (MCHI), the apex body of construction industry, has framed a code of conduct for its members.mumbai Updated: Sep 16, 2011 00:44 IST
With the state government cracking its whip on builders in the last few months, the Maharashtra Chambers of Housing Industry (MCHI), the apex body of construction industry, has framed a code of conduct for its members.
The announcement came after chief minister Prithviraj Chavan, taking a stern view of the illegalities committed by the developers, stated that he would clear only 'clean' files on projects.
Calling it a self-regulatory mechanism, Paras Gundecha, president, MCHI, said, "The rules have been framed keeping the welfare of the developers and homebuyers in mind."
Incidentally, many points in the code of conduct are similar to the draft prepared by the state in its housing regulatory bill, which is expected to be introduced in the state soon.
The code of conduct deals with five main clauses - full disclosure on property titles, agreement for sale on carpet area basis, possession details, any other additional details, and arbitration and mediation. "We have made provisions to suspend members who do not comply with it," said Boman Irani, secretary, MCHI.
MCHI has decided to strengthen its grievance cell too. "The cell will arbitrate and try to redress the issues of the homebuyers," said Gundecha.
However, not many are convinced with the effectiveness of the code of conduct. "With no say for consumers, this is complete eyewash," said Sheetal Chhedha, secretary, Revathy Foundation, which deals with housing issues.
First Published: Sep 16, 2011 00:42 IST