CREDAI BENGAL introduces their first ‘STATECON’ in the city  

CREDAI Bengal, the state chapter of the ‘Confederation of Real Estate Developers’ Association of India and the apex body for private real estate developers in India, presented the first ever CREDAI BENGAL STATECON 2018 in the esteemed presence of Mr. Jaxay Shah, President of CREDAI National, Mr. Sushil Mohta, Vice President, CREDAI National, Mr. Nandu Belani, President of CREDAI Bengal, Mr. Tamal Ghoshal, President of CREDAI Howrah-Hooghly, Mr. Naresh Agarwal, President, CREDAI North Bengal, Mr. Subrata Chatterjee , President, CREDAI Assansol and Mr. Amit Sarda, Convener of STATECON  today.

The day-long knowledge-conferencewitnessed a series of panel discussions on the current Real estate scenario of the State along with external factors acting as a driving force for the industry.

Speaking on the occasion, Mr. Nandu Belani, President, CREDAI Bengal, “The Real Estate sector has seen expansive policy changes like never before in the last two years and CREDAI Bengal has been no exception to this reality of Indian realty. But as a community we have demonstrated a strong resolve to cope and adapt. The implementation of RERA and the subsequent setting up of the real estate regulator WEST BENGAL HOUSING INDUSTRY REGULATORY AUTHORITY (WBHIRA), have made us commit to paving the way for the growth of consumer confidence, self-policing, adopting best practices and laying a strong foundation for the future.

The objective to host the pan-state conference ‘CREDAI Bengal STATECON 2018’ was to bring together all our City Chapters together on one platform, consolidate diverse views of metropolitan, Tier I & Tier II segments and decode some very pertinent questions surrounding real estate in this era of sustained sectoral disruptions.

With our state Government prioritizing infrastructure projects by creating provisions for better and sustainable infrastructure, the real estate sector in West Bengal is confident of its vision to become the engine of the economy. West Bengal has also witnessed a strong transformation of its IT-ITeS sector, with 12 established IT parks and 13 more to come. Despite initial hiccups and certain inherent growth-inhibitors, the state has now seen a mature resurgence in its work-culture, investment ambience and an uptick in its perception quotient. The Report released today highlights the positives as well as some lacunae in West Bengal and presents a balanced view as a basis for further change.”

The convention comprised of 4 knowledge sessions which connected with the overlying theme which was the various approaches to define the new age real estate avenues in the State, which will eventually set into motion the real estate roadmap for West Bengal.

·       IT-ITeS: an Engine of Economic Growth- where the panel discussed  about the enablers that have to be provided by the government for a full bouquet of IT-ITeS services and how the creation of a conducive environment will lead to a rise in start-ups. The session also highlighted the need to look at the changes the state has undergone post bagging the top spot in Ease of Doing Business. It also spoke about the state’s preparedness to emerge as the next IT-ITeS destination on the lines of Bengaluru, Pune and Hyderabad.

·       Entertainment and F&B: Critical to drive footfalls: the second knowledge session of the Statecon was on the importance of the entertainment and F& B sector for the real estate sector. The session also showcased the possible emergence of assets dedicated only to the entertainment and F&B segment. In addition, the panel also discussed ways on how to raise funds for the retail assets under the current challenging market conditions.

·       Life post-RERA and Alternatives:the Next Big Opportunity in Real Estate: The third session of the day catered to unravelling the impact and effects of RERA on developers, the investors and the buyers.

·       Alternatives: the Next Big Opportunity in Real Estate: This panel discussion revolved on the growth of non-conventional real estate assets such as senior living, student housing, warehousing & logistics, co-working, and its future aspects.

The symposium concluded with the Leadership Session by eminent author Shiv Khera.

This is also the first time that the three city chapters namely CREDAI Howrah-Hooghly, CREDAI Assansol and CREDAI North Bengal, have together hosted a State conference.The 1st Edition of Bengal Statecon envisions on creating a stimulus for a greater growth and understanding amongst all the centres in West Bengal having CREDAI’s presence.

About CREDAI Bengal: CREDAI Bengal is the state’s chapter of the Confederation of Real Estate Developers’ Association of India (CREDAI), the apex body for private real estate developers in India. CREDAI represents over 9,000 developers through 23 state and 154 city level member associations. In West Bengal, CREDAI Bengal has three chapters and now has more than 300 members, witnessing a fast growth in membership. CREDAI Bengal has been instrumental in bringing about many changes. People’s perception about real estate has undergone change and real estate practices too have changed. CREDAI Bengal has been instrumental to introducing the concept of group housing in high-rise buildings as opposed to individualized houses, making provisions for lifestyle (including common social amenities and entertainment facilities) and not just houses in real estate projects, adoption of modern technologies in building construction and innovative home financing instruments.

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