The company should have a registered office in Chennai with statutory registrations, fulfil the code of conduct and should be in existence for a minimum of 3 years.
Should have constructed and delivered 2 lakh Sq. Ft. in Chennai.
Needs to be proposed and seconded by two existing members of CREDAI with three years standing.
If already a CREDAI member in some other state with having constructed and delivered 2 lakh Sq. Ft. the applicant is eligible.
A promoter who has completed 1 lakh Sq. Ft. and has a good track record with ongoing projects for another 2 lakh Sq. Ft.
One time admission fee of Rs. 3 lakh + GST and an annual subscription of Rs. 75,000/- + GST to be paid along with the application.
A promoter who has done only stilt +1, stilt +2, villas and has completed 2 lakh Sq. Ft. but also has done group development of a minimum 1 to 2 acres in the same compound with single approval.
A consortium of members from other chapters who have individually completed the required 2 lakh Sq. Ft. but as a new entity has not completed the required 2 lakh Sq. Ft. are eligible for membership.
A promoter who has completed 3 to 4 SPV (different names) totalling to 2 lakh Sq. Ft. and has an ongoing project under a different name (with sanctions and approvals) can apply for membership, only if the original SPV is closed or the holding company is a member.
For promoters who have been partners of other companies, which have completed 2 lakh Sq. Ft. but the new venture (containing only ongoing projects) is yet to meet the norms, the promoter should have 30% shareholding, should be actively involved in the company and the construction should have commenced.
