CREDAI aims at a refined real estate sector
Confederation of Real Estate Developers’ Associations of India (CREDAI) is all set to bring about a revolution in the Housing Sector. With slum rehabilitation and e-based single window approval process in the pipeline, CREDAI national President Lalit Kumar Jain rolled out the roadmap at the end of the organisation’s general council meeting in Delhi on Tuesday. CREDAI is coming up with a mission to make India ‘Housing Surplus’ by 2020 from current scenario wherein there is a deficit in proper housing in the country. Real Estate sector extends its supports to 250 industries; it generates lot of employment opportunities and contributes 11% to GDP.
CREDAI, in its general council meeting, has set a 10-point agenda of action that will trigger the growth in the housing sector thereby solving the housing problem faced by millions of people across the country, the top most priority being given to rain water harvesting as the prime CSR Activity. CREDAI will take initiatives in bringing realty sector close to other sectors which are under the umbrella of economic liberalization. CREDAI has plans set for comprehensive reforms for the sector covering land, administration, banking and tax.
In its general council meeting, CREDAI asserted on approving its long standing demand for a single window clearance system. It also pointed of McKinsey’s report to the Government of India, which says delays in approval processes alone increase sale value of houses by 40 per cent. CREDAI proposes a clean and cost effective method like an e-based standardization of single window approval process in the housing sector. CREDAI has already submitted a Single Window Act for consideration to Ministry of Housing (HUPA) and Ministry of Urban Development which is in progress.
Slum rehabilitation policies or policies like Rajiv Awas Yojana in India are implemented by few states including Maharashtra, where it as not achieved the expected results. CREDAI shows concerns over the development of slums in India and pointed out that as much as 15% of entire population of this country lives in slums. CREDAI National President said, ‘What we require is slum lord free environment where all the slum-dwellers attaining majority age of 21 get their own rightful homes’. ‘If this goes unchecked and unattended, we will have an explosive situation of hundreds of slum colonies everywhere because housing has become unaffordable,’ he added.