- Launched first-of-its-kind “Housing Data Project” on Indian Housing Industry
- CREDAI & Cushman Wakefield Launched a joint report on ’Embracing Change: Exploring Growth Markets for Indian Housing,”
New Delhi, August 05, 2016: CREDAI 16th NATCON – ‘Embracing Change’ was held from 3rd – 5th August 2016 at Kerry Hotel in Shanghai, China. The event was inaugurated by the Indian Ambassador to China, Mr. Viiay Keshav Gokhale. In his opening remark, he highlighted the importance of International Expo for the growth of Real Estate industry. According to him, the example of Shanghai in terms of development of Housing & Urban Infrastructure is more relevant to Indian conditions than European or American cities. Over 860 member developers and experts from the real estate sector, senior professionals from the financial world and ancillary industries attended the event. The event was concluded today with the closing remarks by CREDAI Chairman, Mr Irfan Razack; President, Mr. Getamber Anand and President – Elect, Mr. Jaxay Shah. Some prominent guests who attended the event included dignitaries and keynote speakers such as acclaimed author and former diplomat Mr. Shashi Tharoor (Member of Parliament, India), Mr. James Law (Founder and CEO of Cybertechture), Mr. Pranay Chulet (Chief Executive Officer, Quikr) and Bollywood acclaimed actor, Mr. Sanjay Dutt.
The three-day long convention aimed at facilitating knowledge and learnings on the global best practices in the industry against the backdrop of competitive economies - China and India. At the convention, CREDAI launched first-of-its-kind “Housing Data Project” on the Housing industry of India. The Housing Data project is a maiden attempt at understanding and analyzing real time data in the Housing Sector. It will provide details of housing stock, fresh project launches, absorption and the unsold inventory in 12 biggest urban agglomerations of the country on a quarterly basis. CREDAI & Cushman Wakefield also launched a joint report on ’Embracing Change: Exploring Growth Markets for Indian Housing’. The report traces the major factors at work which determine housing demand and supply in Tier II and Tier III cities.
CREDAI for the first time hosted an exclusive CREDAI B2B 2016 expo at the Convention. The expo bought together major Chinese suppliers of building material and technology.
Speaking on the occasion Mr. Getamber Anand, President – CREDAI said, “NATCON serves as a knowledge platform for the real-estate ecosystem to learn from International best practices and discuss key issues pertaining to the Indian Real Estate sector. Our aim is to exchange ongoing technological developments, policy regulations and market insights from some of the top-thinkers in the industry directly.”
“China and India being the world’s largest economies, have shown stark similarities in the way their real-estate industry functions and they can learn a lot from each other’s experiences. Hence, this time, we decided to choose Shanghai as a strategic location for NATCON to facilitate co-creation of a real-estate structure which is complimentary to the economic future of both the countries.”
Mr. Irfan Razack, Chairman – CREDAI added, “The global economy is getting more and more interconnected. The saying that the flutter of a butterfly's wing can ultimately cause a typhoon halfway around the world has become a viable possibility. CREDAI understands this and in our own way want to prepare for the future. We have always focused on reforming the Indian Real Estate sector and understand that to do so we need to look at multiple avenues, from policy to technology and even human experiences. This forum provides us the right mix of all this, enabling us to take back global learnings and apply it locally.”
The conference included 14 powerful sessions which touched upon various topics relevant to the industry. The Key Note Address on day 1 titled ‘Enter the Dragon’ highlighted the achievements China has made in the economic front and presented some key takeaways for other economies and industries to follow. Sessions on Indian economy and market (Ride the Tiger), future technological specifications (Ideas for a Smarter Tomorrow) and affordable housing (All you can build in a 30 square meter home) were some of the other notable ones that focused on the growth of the industry. The conference also saw discussions on future opportunities in real estate namely retail, industrial & warehousing, assisted living and commercial space. There were also special sessions on digital marketing, deciphering demand numbers and RERA (Demystifying RERA). Mr. Pranay Chulet, CEO- Quikr led the day one session on ‘Starting from Scratch’ on starting and building an organization. Day two saw James Law’s session on smart technology ‘Technology and Innovation in Construction: Ideas for a Smarter Tomorrow’ as well as ‘India v/s China’ panel with Mr. Shashi Tharoor (M.P). A special interaction with Mr. Sanjay Dutt on the final day of the event about his life and the lessons he learnt from it gave the event a touch of glamour and humanity, marking the end to this international forum.
The role of Housing industry to future economic growth in India will reflect Chinese potential where Real Estate contributes about 15% of GDP. The convention however noted Chinese approval and processes are much quicker, taking no more than 6 months as compared to almost 2 years in India. Hence, speeding up of approvals and permissions processes in India is necessary to realize potential of Real Estate Industry.
Established in 1999, The Confederation of Real Estate Developers’ Association of India better known as CREDAI is the apex body for private real estate developers in India, representing over 11,500 developers through 24 states and 164 city chapters across the country. CREDAI has organized the industry and is accepted as trusted partner with Government representatives, policy makers, investors, finance companies and consumers.