All You Need To Know About CREDAI & Its Role In The Indian Real Estate Sector
Real estate developers play a major role in the Indian real estate industry. Private bodies such as Confederation of Real Estate Developers Association of India (CREDAI) have also played an important role in the growth story of the Indian real estate markets. Let us look at the contribution of CREDAI to India's real estate industry.
What is CREDAI?
CREDAI is the apex body of real estate developers in India. CREDAI's goal is to disseminate information about the realty industry and promote housing and real estate developments. CREDAI intends to fuel economic growth through these activities. Over 3,500 developers from 18 states are members of this body which has formulated an ethical code of conduct for all its members.
The role of CREDAI in India's real estate markets
CREDAI facilitates coordination between government bodies, professionals, real estate developers and consultants. It also organizes workshops, seminars, round-table conferences and an annual real estate conference.
CREADAI collaborates with government ministries by liaising with Ministry of Urban Development, Ministry of Housing and Poverty Alleviation, the Planning Commission, Ministry of Environment and Forests.
The agency is also involved in the development of policy, suggesting changes and making representations.
It also introduces new construction techniques, collates statistical information and works towards the interests of construction workers. CREDAI is also involved in educating construction workers. The agency conducts research in the area of construction and property development.
CREDAI is currently actively involved in promoting affordable housing across India.