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Confederation of Real Estate Developers Association of India

Confederation of Real Estate Developers Association of India, (CREDAI) was set up in the year 1999. It is the broad head for all the organized and structured real estate builders and developers in India. The organization includes of twenty city and state level associations that pervades across eighteen states in India. It represents over 60 per cent of the developed private cities and state in the country. The states that belong to the CREDAI membership are:-

 
  • Goa
  • Delhi – NCR
  • Andhra Pradesh
  • Gujarat
  • Chattishgarh
  • Jharkhand
  • Kerala
  • Himachal Pradesh
  • Karnataka
  • Maharashtra
  • Orissa
  • Madhya Pradesh
  • Punjab
  • Tamil Nadu
  • Uttar Pradesh
  • Rajasthan
  • West Bengal
 
Structure and Functions
 
The Confederation of Real Estate Developers Association of India works in accordance with the eminent housing finance bodies and bank. This helps in facilitating fast and easy housing funding to the ones who purchase the properties. Annually CREDAI makes it a point to organize a National Convention. This is apart from all the states, cities and the conference and technical seminars regionally so that deliberations amidst the stakeholders are guaranteed. CREDAI is also influential in organizing exhibitions in the following Indian cities:-
 
  • Bangalore
  • Delhi
  • Kolkata
  • Mumbai
 
The countries out of India would include:-
 
  • Saudi Arabia
  • USA
  • London (UK)
  • Kuwait
  • Dubai (UAE)
 
Aims and Objectives of Confederation of Real Estate Developers Association of India
 
CREDAI works towards collection and also collating relevant statistics, data and other important inputs pertaining to real estate growth and development. The organization not only takes initiatives to help the real estate builders but also assists the construction workers. It works towards rendering on to them the best real estate practices.
 
CREDAI also put forward certain ethical codes of conduct that ensures the maintenance of clarity, transparency, consistency, integrity in the field of real estate growth and development. At the same time, on behalf of the real estate developers through out India, the organization has a liaison with the government authorities and bodies so that there are certain coherent policies that can be developed as well as followed. Some of them are:-
 
  • Elimination of the ULC Act.
  • The organization had put forward policies that are for the IT and IT based services. This is done in the form of property tax concessions and the like.
  • CREDAI introduced income tax concessions to the property buyers, who are looking for house funding and home loans. This is also extended to the developers who are taking charge of the housing projects for residential purposes.
  • The organization has been instrumental in opening the FDI market in the realty sector that allowed initiatives like slum renovation and also affordable and low cost housing.
  • CREDAI motivated the adoption fast track mechanism. This is to be followed by the local government bodies.
 
Projects
 
Confederation of Real Estate Developers Association of India has undertaken and initiated numerous real estate projects on market research in order to estimate the demand and supply trends in various cities. Sometime back, CREDAI has expressed its intention in setting up an alliance with Crisil, the credit rating agency for giving compulsory rating to the affiliated members and also their projects. As an industry leader CREDAI works to promote and develop real estate and housing.
 
CREDAI Initiatives
 
Growth of economy
 
Real estate is an integral aspect of our economy. The real estate market is estimated to touch $180 billion by 2020. CREDAI takes constant initiatives in order to use the resources well and help in developing the real estate sector of India. This in turn promises a growth for the economy as a whole.


 
Role of the Developers
 
Real estate developers play a pivotal role in our industry in order to cover the gap that exists between the customers’ needs, requirements and construction scopes and capabilities. The developers render value in terms of location, design, pattern, cost and functions. They also take attempts in order to absorb the western and international trends and understand the customer mindset and provide the best solution. Confederation of Real Estate Developers Association of India works towards understanding all these factors and initiate methods so as to develop the real estate segment in India