The Hindu Business Line : Call for national real estate development policy

THE Confederation of Real Estate Developers' Associations of India (CREDAI) on Wednesday called for a national real estate development policy that would encompass overall development of amenities such as commercial centres, hospitals, educational institutions and stadiums.

"A national real estate development policy is missing. We have a National Housing Policy focussing on housing, but not on aspects such as IT parks, biotech parks, multiplexes and educational institutions, among others," Mr Kumar Gera, President of CREDAI, said while announcing the confederation's forthcoming national convention, Natcon 2004.

Natcon 2004 is being organised concurrently with CREDAI's national exhibition of real estate developers and housing finance institutions, Property 2004. Mr Gera said real estate should be included as part of infrastructure norms and planning.

"Those who visit China laud the country's infrastructure, including expressways, parks, shopping malls, power and facilities such as ease of accommodation. Much of this is real estate. We need to realise that when we talk about infrastructure development we cannot omit real estate," he said, adding that some of these issues would be raised with the government during the upcoming convention.

The two-day Natcon and the three-day Property 2004 will begin on September 10 in the Capital. The Minister of Urban Development and Parliamentary Affairs, Mr Gulam Nabi Azad, will inaugurate the convention and the Minister for Urban Employment and Poverty Alleviation, Ms Kumari Selja, will be the guest of honour.

The theme for Natcon is `Build Facilitate Promote: The role of real estate in the development of India.' The convention is expected to see the participation of 600-700 delegates from across the country. The key participants include real estate developers, officials of urban development authorities, manufacturers of building materials and architects.

Prominent speakers at the convention include Ms Chanda Kochhar, Executive Director of ICICI; Mr Niranjan Hiranandani, Managing Director of Hiranandani Constructions; Mr V. Sridar, Chairman and Managing Director of the National Housing Board; and Mr Kiran Karnik, President of Nasscom.

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