- Shri Sushil Kumar Modi, Deputy Chief Minister Bihar, addressed over 100 CREDAI member developers from across India at their Executive Committee and Governing Council Meeting
- CREDAI demands lowering of circle rate in Bihar to aid growth and development of the real estate industry
- CREDAI pledges to provide skill training to 25000 construction workers in this financial year
05th July, Patna: Confederation of Real Estate Developers' Associations of India (CREDAI), the apex body of private real estate developers representing over 12000 members across India, today pledged the development of 25,000 Affordable Housing units in Bihar by 2022. CREDAI through this pledge reiterates its commitment to help achieve Government of India’s mission of Housing for All by 2022. The pledge was made at its Executive Committee - Governing Council meeting held at Patna amid the presence of key dignitaries such as Shri Sushil Kumar Modi, Hon’ble Deputy Chief Minister of Bihar and other prominent members from the State Government.
At the EC-GC meeting, CREDAI held an interactive workshop on ‘Affordable Housing’, conducted by Mr. Shantilal Kataria, Chairman, RERA legal and Affordable Housing Committee, CREDAI. He addressed the queries and shared industry insights with the CREDAI developers. CREDAI recommended incentives to developers in the Affordable Housing scheme to ensure greater implementation and benefits to both homebuyers and developers. CREDAI also demanded the lowering of the Circle Rate by at least 25% as in many areas it exceeds market rates and attracts penal provisions of Section 43CA of the Income Tax Act.
CREDAI, as a leading industry body strongly believes in holistic growth of all the stakeholders. Given the huge skill gap prevalent among the construction workers in India, CREDAI also utilized this platform to take a pledge to train over 25000 workers within this financial year, in line with the government’s Skill India initiative. The training would involve a mix of both theoretical and practical training techniques. With CREDAI already a direct training partner of the National Skills Development Corporation (NSDC), this move will cement CREDAI’s position as one of the largest benefactors in Indian realty, progressing towards its vision of building a new India.
CREDAI Bihar has been instrumental in facilitating CREDAI’s foremost responsibility to bring developers on the same platform and build initiatives to enhance the corporate social responsibility. One such instrumental initiative is the Clean Patna initiative that has taken the onus of introducing waste management in member developers’ projects.
Mr. Jaxay Shah, CREDAI National President, said “CREDAI continues to catalyse the growth of the affordable housing segment pan India. We are delighted to announce that CREDAI Bihar will further strengthen this commitment towards achieving PM Modi’s dream of ‘Housing for all by 2022’. There are some policy roadblocks that are yet to be tackled, however, with this EC-GC meeting in Patna, we hope to spearhead growth for not just the realty sector but also for the entire economy.”
Mr. Narendra Kumar, CREDAI Bihar President, shares his remarks “We are honoured to host such distinguished dignitaries representing the Government and the real estate industry at the EC-GC Meeting in Patna. The day long meet gave us the opportunity to showcase CREDAI’s objectives and intentions of providing the real estate industry the push and support that it deserves. With a clear and dedicated focus towards transforming the sector into a highly conducive environment for all stakeholders, CREDAI aims to use this platform to initiate a sustained period of growth and development for Indian realty.”
Established in 1999, The Confederation of Real Estate Developers’ Association of India, is the apex body for private real estate developers in India, representing over 12000 developers through 23 states and 203 city chapters across the country. CREDAI has worked hard to make the industry more organized and progressive by networking closely with government representatives, policy makers, investors. CREDAI works towards improvement of ethical standards & business practices in real estate. CREDAI is well-recognized by the Central and State Governments in all its endeavours.
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