CHENNAI: The scars of the Moulivakkam high-rise collapse, which claimed 61 lives, will haunt the real estate sector in days ahead as Confederation of Real Estate Developers’ Associations of India (CREDAI) vowed to compile a safety and quality manual to ensure structural safety of buildings.
The tragedy came at a time when developers were already hit by the rise in cement prices and builders believe it will continue to haunt the new multi-storey projects. While builders are keeping their fingers crossed, most of them confide that it doesn’t augur well for the construction industry as it has already created fear in the minds of customers.
Vice-president of CREDAI, Suresh Krishnan, admitted that this will have an impact on multi-storeyed projects. “This would be one of the issues affecting the real estate sector besides the rise in cement prices,” he said.
As such, the focus of CREDAI, Chennai, is now more on the Moulivakkam tragedy than the rising cement prices. Ajit Chordia, president, CREDAI Chennai, told reporters that the association would incorporate the quality and safety assurance system and maintenance of records as part of the Code of Conduct. “We will make it obligatory on all CREDAI members to strictly adhere to the safety and quality system,” he said.
CREDAI is also looking at ways to compensate those who have bought houses in the two ill-fated buildings.
Krishnan and Sandeep Mehta, a former president of CREDAI, Chennai, told Express that they are for the implementation of the draft Tamil Nadu Common Building Rules for Urban Bodies which calls for creation of a structural design review panel.
