One of the most eagerly awaited real estate conventions, CREDAI Conclave – Real Estate 2.0, Embracing Change’ was held recently at Hotel Taj Diplomatic Enclave in New Delhi. The event was attended by over 1000 developer members and other prominent Government dignitaries such as ShriVenkaiah Naidu, Vice President of India and Shri Santosh Kumar Gangwar, Minister of State for Labour and Employment. The conclave also witnessed the unveiling of the CREDAI – JLL report titled ‘Traversing through the Epic, Predicting the Curve’which highlights that the Indian Real Estate Sector is projected to reach a market size of $180bn by 2020,a sharp rise from $126bn in 2015.
The state of West Bengal particularly saw good participation with over 25 member developers attending the conclave.
With the emergence of a new policy framework in India, CREDAI Conclave highlighted the new and lucrative opportunities the sector presents for its stakeholders and the amendments required in the current business strategy to thrive in the reformed environment. It also dissected some prevailing and upcoming industry trends such as the growth of Digital Marketing, Co-working and Student Housing and the steady rise of the Affordable Housing segment, among others.
CREDAI also addressed various industry issues including the importance of providing appropriate means for land financing to build houses under the affordable housing segment and raised concerns with regards to the current GST rate of 12% being levied on under construction projects. CREDAI members also urged the concerned authorities to remove bottlenecks and underlined the need for a single window clearance mechanism to make the industry more efficient and systematic.
CREDAI President, Mr. Jaxay Shah, comments “CREDAI Conclave has and continues to be one of the most awaited and celebrated conventions in the Indian real estate sector. From addressing industry issues and possessing a futuristic outlook, CREDAI’s ongoing aim of maintaining a highly conducive environment for the growth of Indian realty and its stakeholders has taken another successful leap forward. We sincerely thank our member developers and other industry stakeholders for the overwhelming participation and feedback to make CREDAI Conclave 2018 a grand success.”
Speaking on the occasion, Mr Nandu Belani, President, CREDAI Bengal said “We, at CREDAI Bengal are elated to be able to contribute to the success of CREDAI Conclave 2018. With over 350 member developers, we continue to provide strong support to CREDAI National by sharing our valuable feedback pertaining to the issues and growth of the real estate industry from CREDAI Bengal’s’s perspective. We hope and look forward to continuing this trend in the upcoming events hosted by CREDAI National to lead our pertinent voice in Indian Realty.”