The Organisation:
Confederation of Real Estate Developers’ Associations of India (CREDAI) is the apex body of the organized real estate developers/builders across India, representing pan-India associations of real estate and housing developers. Since its inception in the year 1999, the association has grown manifold with allegiance from 20 state/city level associations viz. Andhra Pradesh, Assam, Chattisgarh, Delhi-NCR, Goa, Gujarat, Jharkhand, Karnataka, Kerela, Madhya Pradesh, Maharashtra, Orissa, Punjab, Rajasthan, Tamil Nadu, Uttar Pradesh and West Bengal with over 3500 individual member developers encompassing over 60% of the organized private sector real estate development activity in member states/cities in the country.
CREDAI has been instrumental in rallying the cause of the Real Estate sector by presenting the issues and concerns of real estate developers to the Government.
Core Objectives:
The primary objective of CREDAI is to spread awareness of the importance of the real estate industry as a prominent driver of India’s economy today. The other objectives are:
Ø To represent the developers/builders across India by communicating & representing with the government authorities for the formulation of proactive policies for this profession
Ø To perpetuate an ethical code of conduct, which is self-imposed & mandatory for all the member developers/builders of CREDAI to maintain integrity & transparency in the profession of real estate development
Ø To encourage and support the developers/builders to increase their efficiency in the development/construction activities by introducing the latest technologies
Ø To disseminate the data, statistics & other related information in this profession of real estate development
Ø To promote the interest of construction workers & to educate them on the best practices
Ø To encourage research in the profession of construction & real estate development
Ø To facilitate easy housing finance availability to the property purchasers by working in close coordination with the leading housing finance institutions & banks.
Contributions:
CREDAI has represented the organized real estate developers/builders across the country to the government of India on the various issues at the various points of time. This has resulted in the following measures:
Ø CREDAI worked for the abolishment of urban land ceiling and even the last remaining bastions of ULCRA have abolished it
Ø Expedite sanctions of the projects by encouraging the adoption of fast track mechanism by the local government authorities
Ø Proactive policies for the IT & IT based services in the form of property tax concessions etc
Ø Opening of the FDI market in the real estate to enable the slum rehabilitation & low income/low cost housing
Ø CREDAI suggested that the stamp duty be brought down and several state governments have brought down the duty
Ø Reforms suggested by CREDAI in urban development (put forward in a workshop) have now become part of the Jawaharlal Nehru National Urban Renewal Mission (JNNURM), a Government of India initiative aimed at encouraging reforms and fast track planned development of identified cities.
Ø CREDAI has also suggested that the states be given incentives to adopt the Urban Reforms.
Ø CREDAI is the member of the steering committee of the Planning Commission
Activities:
CREDAI does not adopt an agitative approach; instead it has a persuasive approach. The organization approaches the government with reforms and proposals that are aimed at betterment of the real estate sector, as a whole. The results are widely consumer-centric, in other words, the results of the confederation’s initiatives trickle down to the end users – customers.
Ø CREDAI holds the National Convention once a year and also holds several city, state & regional level conference & technical seminars. Since its inception, CREDAI has held seven National Conventions in Delhi, Mumbai, Bangalore, Star Cruise, and Malaysia.
Ø CREDAI held its 7th national real estate convention - NATCON 2008 in Delhi earlier this year, which focused on meaningful discussion that were of immediate concern to the real estate fraternity and outlined directions for the future of real estate that serves all factions of society and the economy. NATCON 2008 marked the birth of the concept of SRZs (Special Residential Zones). CREDAI was first to share this concept with the entire real estate industry.
Ø CREDAI is holding its 8th National Convention - NATCON 2009, which is scheduled for January next year, at Macau.
Ø CREDAI holds the Exhibitions in various cities across the country viz. Delhi, Mumbai, Bangalore, Kolkata, etc. & also organizes exhibitions in the Gulf viz. Dubai, Muscat, Kuwait, Saudi Arabia, London (U.K), USA, far-east etc.
Ø CREDAI has initiated several real estate market research projects to locate/understand the demand-supply ratio of various cities.
Ø Members follow a self-imposed CREDAI Code of Conduct, giving the community transparency and professionalism
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