real estate deal

Property purchases for new buyers in the whole country will become more transparent with the signing of an historic agreement between the Confederation of Real Estate Developers Association of India (CREDAI) and the National Association of Realtors at the third annual convention of NAR India held in Hyderabad in the last week of July. Andhra Pradesh Realtors Association, the local arm of the national body of realtors, organized the convention at HICC.

Mr P S N Rao, chairman of NAR-India, laid special emphasis on the importance of brokers or real estate agents who are now more sophisticated and educated and will play a more important role in helping property buyers. With over 13000 members in 20 states, NAR India is set to play a key role in the coming years with the agreement now in place. The code of conduct will make deals more transparent for buyers and brokers will be trained to provide a uniformly high level of services, according to Mr Lalit Kumar Jain, president of CREDAI. Buyers can expect clearances of all papers within three weeks through a proposed single window clearance system. The agreement paves the way for improved quality of services from the real estate agents with prospective customers placing more trust and confidence in them.