Bravo...Maple Shelters! CREDAI Pune Metro is with you!!

Beware of the builders who are the members of CREDAI Pune Metro:

Beware of the builders who are the members of CREDAI Pune Metro - They support Maple Shelters

If a builder is a member of CREDAI Pune Metro - he must be an established & professional real estate developer. For years Pune flat buyers believed.

In this unorganized business of real estate where every flat buyer is afraid of being cheated by some fly by night operator - the membership of CREDAI Pune Metro is like a certificate of safety.

The main object of CREDAI Pune Metro is - "to establish honourable and fair dealing of the Promoters and Builders with their customers". To achieve this object CREDAI Pune Metro has formulated 'Code of Conduct' & published it on their website.

What will CREDAI Pune Metro do if the member violates the 'Code of Conduct'?

"If any member is found to violate the code suitable action can be taken against him by the Association even to the extent of his membership being discontinued; after a detailed enquiry by a select committee which recommendation if endorsed by the Managing Committee would lead to the termination of membership of the member." - says CREDAI Pune Metro.

Because the Code of Conduct - flat buyers in Pune trust members of CREDAI Pune Metro. Pune flat buyers prefer to book a flat in a project launched by the member of CREDAI Pune Metro. Pune flat buyers make it a point to visit official property exhibitions organized by CREDAI Pune Metro.

However, the recent press note about Maple Shelters raises doubts about the credibility & the trustworthiness of CREDAI Pune Metro.

Does CREDAI Pune Metro really believe in establishing honourable and fair dealing of the Promoters and Builders with their customers?

How can CREDAI Pune Metro justify the act of Maple Shelters - against whom Pune police has taken su-moto action & registered a case under 420 (cheating and dishonestly inducing delivery of property), 417 (cheating), 120 (B) (criminal conspiracy) and 34 (common intention) of IPC?

Or is it like - Hathi Ke Dant?
Dekhane Ke Aur - Khane Ke Aur?

Dear Pune flat buyers, from today, would it be wise to trust a member of CREDAI Pune Metro?
Is it safe to book a flat with a member of CREDAI Pune Metro?

Read the press note of CREDAI Pune Metro & let me know in the comments -

CREDAI Pune Metro has noted with concern the condemnation of its member M/s Maple Shelters on various counts.– On a principle level, the stand of CREDAI is that if guilt should be only ascribed after the due process of law is followed and a person is proved to be guilty.

1. At the outset, it is important to note that it is possible for a developer to deliver homes at a cost of Rs. 7.2 lakhs (as advertised by the developer), CREDAI Pune Metro categorically confirms that at the cost of Rs. 2200 psf, in the fringe areas where land costs are low, homes are possible to be constructed and delivered. With the subsidy of Rs. 2.2 lakhs under the PMAY CLSS scheme, it is very possible to deliver homes to the affordable segment at a cost of Rs. 5 lakhs as envisaged by the Government.

2. It is pertinent to note that the Government of India is pushing the housing for all agenda and as such, has come up with 4 options for delivering affordable housing under the PMAY.

3. The mission of housing for all is something that can only be achieved with participation of the private sector and a combined effort and intervention of the Government of India.
In specific terms, the following are the points that deserve to be considered-

a. The developer has followed the credit linked subsidy scheme under the Pradhan Mantri Awas Yojana (PMAY). Under this scheme, the subsidy is provided by the Government directly to the account of the qualified flat purchaser, and already a number of customers have availed of the scheme for their purchases with other developers. The scheme as described on the website of the PMAY does not require the developer to obtain prior permissions from the government/authorities. Infact till today, a large number of projects have customers who have received the benefit under this scheme without prior approval of the government.

b. M/s Maple Shelters clearly has a track record of delivery as they have already handed over 3840 homes as committed by them.

c. The developer has apologized for the use of the photographs of the Hon’ble Prime Minister, Hon’ble Chief Minister and the Hon’ble Guardian Minister.

d. The developer has also offered to refund the Rs. 1000 (plus service tax) processing fees and based on information provided to CREDAI, the customers who have made online payments (nearly 10,000 customers). The statement made by the developer to CREDAI confirms that the customers will receive the refund online and necessary instructions for the same have already been issued. Further, nearly 3000 customers have already received cash refunds today.

4. There has been a huge demand from customers for homes at the affordable segment. The schemes launched by M/S Maple Shelters was with a view to deliver 10,000 homes to at the bottom of the pyramid. This effort itself is laudable and ought to be welcomed.

Unfortunately, there has been an outcry on account of some of the errors in the advertisement. CREDAI appeals to the authorities to view the situation in its entirety so that the overall mission of providing homes to the affordable segment is not diluted.

Related Stories:

2) Maple Shelters' scam busted - what about the other scams?

1) Maharashtra Housing Day Registration at Maple Office

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