Credai to approach govt over apex court verdict

Agency to take steps to allay flat owners’ fears

The Confederation of Real Estate Developers’ Associations of India (Credai) will brief the State government and other agencies about the fallout of the recent Supreme Court verdict for demolition of four apartments at Maradu.

The apex court had ordered the demolition process to be completed in one month after it was found that the flats were constructed in violation of the Coastal Regulation Zone (CRZ) guidelines.

A meeting of Credai Kochi unit which was organised here on Wednesday took stock of the prevailing situation.

The State unit of the organisation will soon come up with its position on the issue after consulting lawyers, according to J. Paul Raj, president of the Kochi unit and director of Alpha Ventures whose building is one of those ordered to be razed by the court.

To back builders

Credai will get in touch with other trade bodies in the State in the wake of the developments, besides supporting the builders.

NRK investments

A large number of Non-Resident Keralites (NRKs) had purchased apartments in the four projects that have been ordered to be demolished.

The organisation will also support them, besides taking steps to allay their fears, he said.

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Printable version | May 30, 2020 5:28:42 AM | https://www.thehindu.com/news/cities/Kochi/credai-to-approach-govt-over-apex-court-verdict/article27143043.ece

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