ICRA-Naredco scheme for real estate developers

	Financial Daily from THE HINDU group of publications Thursday, July 12, 2001

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ICRA-Naredco scheme for real estate developers

Our Bureau

NEW DELHI, July 11

INVESTMENT Information and Credit Rating Agency Ltd (ICRA) and the National Real Estate Development Council (Naredco) have jointly launched a programme aimed at spreading awareness on the concept and benefits of grading of real estate developers and proj ects in the country.

Starting initially with the Capital, the two companies are planning to take the programme to other cities in the country. The process of grading of real estate developers and projects is expected to draw on both ICRA's expertise and its credibility as an independent and unbiased rating agency.

Mr V. Suresh, President of Naredco and Chairman-cum-Managing Director of Housing and Urban Development Corporation (HUDCO), said that the ICRA-Naredco grading system for real estate developers and projects is designed to make buyers of property aware of the risks associated with the developers' ability to deliver in accordance with the terms, the quality and safety standards that have been stipulated.