What is Credai?

What is Credai

The Confederation of Real Estate Developers Associations of India (CREDAI) is the apex body of private real estate developers in India. It was established in 1999 and is headquartered in Hyderabad.

CREDAI is a self-regulatory organization that promotes transparency, ethical practices, and professional standards among its members. There are various conditions to adhere to if a builder wants to be a part of CREDAI and a CEDAI membership gives a sense of trust to consumers. With over 18,000 member developers across 21 states and 200 city-level chapters, CREDAI has emerged as a force in its own right and is respected for its objectivity.

CREDAI members are required to adhere to a code of conduct that promotes fair and honest business practices, which helps to protect consumers. Some of the major aspects of the code of practices are:

1. Transparency

Members must be transparent and provide complete details regarding projects to consumers.

2. Fair Dealing

All dealing must be fair, and members must not engage in any misleading or deceptive practices. All members must adhere to the laws and regulations relevant at various levels.

3. Quality

The quality that has been promised must be adhered to and delivered to consumers.

4. Environment

All the members are expected to act in a sustainable and environmentally responsible manner and abide by social responsibility principles.

CREDAI also has a Dispute Resolution Mechanism (DRM) which helps to resolve disputes among members and at various other levels. There is a dedicated grievance redressal cell as well. CREDAI also undertakes inspections of the worksites of members and check for various compliances. All of the above factors go on to reinforce trust in the organization.

The main objectives of CREDAI are:

  1. Promote the interests of member developers and act as a collective voice.
  2. Foster professional and ethical standards in the real estate sector.
  3. Work towards overall development of the real estate sector in India
  4. Organize exhibitions, conferences, seminars etc in both India and abroad to showcase different projects, facilitate knowledge sharing and industry growth
  5. Awareness programs for customers and prospective buyers and educate them on various aspects.

CREDAI encourages its member developers to use standard forms and documents, such as sale deeds various types of agreements and marketing collateral. This will help consumers as they will be able to access all the available information in a transparent and accurate manner.

CREDAI also encourages its member developers to register their projects under RERA. RERA provides a regulatory framework for the real estate industry and promotes transparency and accountability.

There are exhibitions and shows conducted at various levels by CREDAI. For example, the CREDAI National Property Show is a national-level exhibition which showcases a wide range of residential and commercial properties from various CREDAI member developers across the country. Similarly, there are property fairs in each major city and the CREDAI fair Pro fair of 2023 will also touch Chennai. Apart from the national and city level exhibitions, there are also the regional exhibitions.

About Wisdom Properties

Wisdom Properties is a leading real estate company in Chennai, and we were featured in the 2022 fair and look forward to the 2023 fair. If you are looking for plots in Guduvanchery, DTCP approved plots in Oragadam or an independent house in Maraimalai Nagar, then Wisdom Properties is the best company to approach.

Further, all the title deeds are clear and the company has an excellent reputation. Hence, getting loans from financial institutions for eligible consumers will also not be a challenge.

For more details of projects, layouts and other details, please feel free to contact Wisdom Properties at +91 93606 93606 or or just drop into their office at No.1, 5th Cross Street, New colony, Chrompet, Chennai - 600 044, Tamilnadu, India.

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