1.Title and definition:
The Confederation of Real Estate Developers' Associations of India (CREDAI) is the apex body for private Real Estate developers in India. CREDAI represents over 8,500 developers through 20 member associations across the country. CREDAI Kochi is the Kochi chapter of CREDAI and is registered under the Travancore Kochi literary Scientific and charitable society Act 1953
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, to help in brand building of the projects of member builders. CREDAI also conducts Seminars and Training programmes for the benefits of members.
Membership in the Society is open to all persons engaged in the profession / business as Builders. The admission is subject to the criteria stipulated by the membership Committee of the society from time to time. The applicant seeking membership 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 the application meeting the stipulated criteria will be forward to the Executive Committee for approval. The authority is vested with the Executive Committee to give membership to any builder. The admission is considered for one year provisional membership with a provision to review after one year for giving permanent membership. 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 50,000 Sq.Ft for applicants within the State.
(ii) Minimum 3,00,000 Sq.Ft 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.
(viii) Previous years audited balance sheet.
Members have to make the following statutory payments as applicable at the time of admission:-
a) Entrance Fee - Rs. 2.50 lakhs
b) Annual Membership Fee - Rs. 12,000/-
c) Annual Website linking charge - Rs.3,000/- up to 3 projects and any additional projects Rs.1000/- will be extra.
The Entrance fee and the Annual membership fee for the year is payable at the time of admission as a member. The membership fee for continuing financial years shall become due on the first day of the said financial year and shall be paid not later than the last day of June every year.The above mentioned fees and charges paid to the society shall not be refunded under any circumstances.
In addition, a building fund @ Rs. 1.00 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 required to furnish the details of the projects to the association immediately at the commencement of all projects.All payments shall be in favour of CREDAI Kochi payable at Ernakulam.
8.Cessation of membership:
A member may resign from his membership by giving 30 days notice in writing to the Honorary Secretary to that effect, and upon expiry of the notice period such member shall cease to be member of the Society. The resignation shall be accepted by the Executive Committee only after settlement of any dues to the society.
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 CALICUT' 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.