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New Bhagavad Gita for Realty sector

CREDAI-Telangana At 9 am launch day..

People flock the construction site. The crowd comprises of not prospective buyers, but that of local politicians, municipal or panchayat members, who are trying to extract their ‘fair share’ from the builders for their ‘cooperation’ for the construction.

Exactly an hour later..

The site is again abuzz with prospective buyers along with their families. The marketing staff very politely invite them into the office and answer all their queries and make ‘unbelievable’ offers in order to sell the flats.

By 12 noon..

Once the buyer agrees and the issue reaches the company’s Customer Relationship Management (CRM) division, the scene changes. The CRM staff will call the buyers of the flats and ask them to pay the agreed amount – initially in a friendly manner and as the time progresses, these calls turn from cautious to warnings, repeatedly reminding the buyer for timely payment of their installments.

But finally..

When it is time for the builder to hand over the flats, the buyers keep calling the CRM staff and then the engineering staff. They initially attend these calls courteously and then stop ignoring them. When the buyers try to meet them, they hide behind pillars and walls as they are unable to give an assured date of completion.

These are the typical scenes that often unravel at almost every construction site in both the Telugu States. The construction sector can flourish only if it gets rid of such conditions. Even for a car that is used for 5-10 years, a lot of research is done and cars are released into the market only after making sure that it is fool-proof. Then what sort of cautions must be taken before constructing houses that should last for a 100 years? One such effort has begun in Telangana to develop a fool-proof mechanism in order to make the real estate sector safer for both buyers and the developers.

From 2007 to 2015, the construction sector progressed only on the first gear. No matter how hard you try, one could not switch to a higher speed. But after 2016, the gears shifted drastically. New players entered the game, with most of them lacking proper knowledge and experience in the construction industry. Some of them took up massive projects, while others turned into real estate agents. All this led to chaos, with many observing the need for a rule book. CREDAI-Telangana (Confederation of Real Estate Developers’ Association of India-Telangana) recognized the need to establish some guidelines for the developers to follow at every juncture – from purchasing land to obtaining permission and taking up construction to timely delivery of flats/houses to buyers.

No more mistakes

The CREDAI-Telangana, which is already working with the government and senior government officials, felt that there was a need to encourage realtors and fellow builders to carry out construction in a proper manner in accordance with the regulations laid down by the government. Ultimately, CREDAI wants buyers to take possession of their properties in a timely manner and without any hassle. As part of this process, CREDAI-Telangana decided to produce a rule book called Telangana Standard Operating Procedure (SOP). For this, the Confederation has constituted a special committee with five members.

Focus areas are

What factors should developers focus on when building an apartment? From the time of land purchase to the time when it is handed over to the buyer, the book covers all aspects like what to do and when to do it. How many agreements should builders enter into? With whom? What are the relevant formats? How to do a land survey and what documents should be examined?, it explains everything. A checklist will be created for the developers specifically in order to avoid wasting time. Similarly, a flow chart will be prepared to determine what tasks should be completed from time to time. The guide book will also explain the industry’s best standards including quality and quantity of construction materials, should be used and what aspects should be considered at different stages of undertaking constructions among others.

For lower rung staff

The main purpose of this book is also to transform the mindsets of the lower rung staff from being just money-minded to those seeking job satisfaction. It would guide the builders on how to train the lower rung staff and how to enter into an agreement with institutions like National Academy of Construction (NAC) or any other engineering colleges for the purpose, besides the need for on-site training. The book will also highlight the areas of focus for the builders with regards to their staff, their mentality, work efficiency and other aspects. The book will be updated every year to provide latest information to the developers. It will also have place for certain important government orders as well as taxation including GST.

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