Membership And Types
There shall be following categories of membership:
- Member Association
- Associate Member
- Overseas Associate
- Invitee Member
(i) Member association shall be of two types:
- Any State level Federation / Organization of Promoters and Builders and Real Estate Developers representing a State in India having at least two City / Town level Associations as its members, except MCHI (Maharashtra Chamber of Housing Industry), being the founder member, shall continue to enjoy the status of State Federation.The exiting State level Federation (s) not fulfilling the above criterion, in order to be considered as such, shall have to fulfil the above requirement within a period of six months, failing which the said Federation(s) shall automatically become a city / town level association.
- Any City / Town level Association / Organization of Promoters & Builders and Real-Estate Developers in any place where there is no State level Federation in existence. Upon formation of the State level Federation, such a State level Federation will become the Member and the concerned city level association will cease to remain a member of CREDAI National upon which it will be a member of the new State level Federation.
(ii) Associate Member:
Housing Finance Companies, Commercial Banks and Financial Institutions having Activities in the field of Real Estate, Consultants, Association or Council or Organization having interest in real estate development activities, Professional Institutes / Organizations / Boards dealing with collection and dissemination of Information, Research and Development shall be eligible to be invited to become Associate Member of the Confederation.
(iii) Overseas Associate:
Foreign Association or undertaking engaged in real estate activities may apply to become an Overseas Associate provided that the Governing Council Board may, at its discretion with the concurrence of not less than three-fourths of its total strength, relax or vary any of the qualifications for membership specified herein. A circular or letter duly signed by a member of the Governing Council Board expressing his approval or disapproval of the relaxation or Variation, as the case may be, shall be entered in the Register of Members.
(iv) Invitee members:
All members of City level associations shall be invitee members without having voting right.
Admission of Membership:
- Any State / City / Town level Association desirous of becoming a Member of the Confederation shall apply in the prescribed form to the Secretary and shall be proposed and seconded by a member of the Confederation and re commended by a Member of the Governing Council Board. Such an application shall be accompanied by a Demand Draft in favour of “CREDAI” towards payment of entrance fee as well as Annual Subscription.
- If the Governing Council Board considers it necessary, it may constitute a Screening Committee for admission to membership as “Member association” and may also lay down such guidelines and delegate such powers to it as it may deem fit.
- Associations may be admitted to membership by the Governing Council Board with the approval of majority of the members of the Governing Council Board present, and voting at a Meeting, so that in any event, such admission is approved by a majority of the total membership of the Governing Council Board. A circular or letter duly signed by a member of the Governing Council Board expressing his approval or disapproval of the admission shall be treated as valid for the purpose of this Article.
- If no reply is received from any such member of the Governing Council Board within thirty days of being asked to signify his approval or disapproval of such admission, the Governing Council Board may refuse any application for membership without assigning any reason.
- The Governing Council Board shall decide any question which may arise as to the eligibility or otherwise of any applicant for admission as a member and its decision shall be final.
- If the application is rejected, the Secretary and/or Director General will intimate the rejection to the concerned Applicant and refund to the concerned Association the sum paid for the purpose.
- If the application/organisation is accepted by the Governing Council Board, then the Secretary and/or Director General shall notify the acceptance thereof to the applicant in writing. He shall also furnish the applicant with a copy of the Constitution of the Confederation. The date of enrolment of the member shall be the date on which his application is accepted by the Governing Council Board.
- Any undertaking having been invited to become an Associate Member of the Confederation shall apply in the prescribed form for the purpose to the Secretary and shall be recommended by any member association of the Confederation. Such an Application shall be accompanied by a Demand Draft in favour of the Confederation. Alternatively, such an undertaking may first apply on their letterhead to the Secretary and once the prescribed form is received by them, they may forward that form duly completed along with entrance fee and annual subscription.
- The Governing Council Board may refuse any application for admission as Overseas Associate without assigning any reason.
- Once the membership is granted, the "member association" on their letter head and any other stationery will include under their association name a CREDAI logo and a line mentioning Member – CREDAI. In the case of member associations joining after Adoption of these Articles, it would be mandatory on their part to include in their name as a prefix or suffix the acronym “CREDAI” as also the name of City or Town they represent.
Rights & Obligations:
Any Association or Undertaking having been admitted to Membership of the Confederation will be deemed to have agreed to amend their bylaws in synergy with these articles of association and also to abide by and be subject to these Articles, rules and regulations, bylaws and standing orders of the Confederation that may be in force from time to time. However, this shall not apply to associate members or overseas associates.
Entrance Fee & Subscription:
The Entrance fee and annual subscription the payable by each category of Members for the time being shall be as follows:
|Member Association State level Federation /Association having at least two City / Town level Associations as its members
|City / Town level Association
Each State Federation shall pay this fee of Rs.1 000/- per individual member of their city association which is subject to concession provided herein below:
|Population of city (as per Latest census)
||% of Payable Fee
|Below 10 lac
|Between 10 lac to 25 Lac
|Above 25 lac
However, the annual subscription for State Federations will be minimum Rs.4,00,000/- and maximum Rs.10,00,000/-
The Governing Council Board of the Confederation shall have the authority to alter from time to time the subscription stated herein.
Each and every type of member of the Confederation shall pay such additional Subscription, not exceeding the annual subscription for the time being, as may be decided by the Governing Council Board from time to time having regard to the requirements of the Confederation. However, such additional subscription shall not be payable more than once in any period of three years.
All subscription and admission fees shall be payable in advance by Demand Draft only on such date or dates as may be designated by the Governing Council Board from time to time.
If the Annual Subscription or any other amount due to the Confederation is not paid in time, the said amount shall require to be paid along with interest @ 12% PA.
No member shall have any voting rights unless entire dues are paid.