Real Estate

Real estate body to focus on consolidation, sector revival

Our Bureau Hyderabad | Updated on April 07, 2021

To work towards tax-related issues, uniform stamp duty

Rebooting itself post the Covid pandemic lockdown, the real estate body CREDAI plans to consolidate and work towards revival of the sector, engage with the government for further rationalisation of the tax regime, secure infrastructure status for real estate.

The apex body of private real estate developers, with a membership base of over 13,000 developers in 21 States and 217 Cities, across India, plans to work towards a more inclusive growth helping small and medium sized developers who face funding issues.

Interacting with media over a Webinar, Harsh Vardhan Patodia, President, CREDAI National, along with other members of the recently elected body, said “Credai would provide free Covid-19 Vaccination for over 2.5 crore construction workers at the sites of member developers across India.”

“As a real estate body we have rebooted ourselves post the pandemic and we are presenting ourselves in Version 2.0. The focus now is on consolidation after a tough year that has gone by. We are keen to work with small and medium sized developers and address their problems by discussing their issues with Government,” he said.

The first quarter this year has witnessed a robust 44 per cent growth as per Knight Frank report, but the second wave of Covid infections has become a matter of concern. We hope things will get back to normalcy soon, he said. “One of the major problems for the real estate sector is working capital. Banks do not provide working capital and the interest rate is high. If industry status is given to the real estate, it will do good,” he said.

Supporting start-ups

Patodia said that CREDAI will be setting up a Start-up Angel Network and Incubation & Acceleration Centre’ an enterprising initiative and a Research and Analytics Centre that will facilitate the availability of real time and authentic data for future growth strategies of the real estate sector.

The start-up network will help and support tech start-ups in the real estate space by hand holding them and providing them access to its members network for business development.

“It plans to focus on driving efforts to revive the real estate sector and provide a stimulus to boost the business environment. We will also further our commitment to skill development, green buildings and labour welfare,” he said.

Published on April 07, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like