Updated News

Membership General information


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   8800 developers through    22 member associations across the country. CREDAI THRISSUR is the   Kochi chapter    of   CREDAI  and is    registered under the Travancore Kochi literary Scientific and charitable society Act 1953.         

2. Function: 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.

3. Membership: 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. Executive     committee will forward this application to the CREDAI  Kerala  chapter.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 of 50000 sqft for applicants within 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.

7. Statutory Payments:

    Members have to make the following statutory payments as applicable at the time of admission:-
          a) Entrance Fee                                -3.00 lakhs Rs. + Taxes  
          b) Annual Membership Fee               - Rs. 25000/-+Tax

    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. 0.50 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 THRISSUR payable at Thrissur.

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 THRISSUR’  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.



News And Events