National Association of Realtors India (NAR-India) and Confederation of Real Estate Developers Associations of India (Credai) have come together to bring transparency and ethics in property sales and other service offerings to customers. The two associations signed an agreement of cooperation to this effect on the sidelines of NAR-India’s third annual convention here.
“This initiative will help us in streamlining the brokerage process and to scale up the brokerage industry. We want to create a common language of fair and ethical practices among the realtor community to give a better service to customers,” PSN Rao, chairman of NAR-India, said. Brokers and builders are the two key stakeholders of the real estate industry and it is imperative that a synergy is cultivated between the two, according to him. The association represents about 14,000 brokers across the country. Credai president Lalit Kumar Jain said the collaboration between the two associations would also help reduce property prices.
The 12th Plan envisages a requirement to build 27 million dwellings even as the rapid growth in urbanisation is expected to add another 60 million people in the cities and towns by 2020, according to him. “Policy makers have to think of taking steps, including reducing the approval time lines, to make housing affordable to all sections. We need to create a decent accommodation for every person in the city and avoid mushrooming of urban slums,” Jain said.
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