Credai hails the move by Government in this year’s budget to enable efficient supply of housing stock through affordable housing


Confederation of Real Estate Developers’ Associations of India, (CREDAI) National the apex body of the organized real estate developers across India in association with CREDAI Bengal, its state chapter,  addressed about the expected augmentation in sales within the real estate sector after positive announcements made in this year’s Union Budget. It also correlated the need of upliftment and empowerment of the construction workers of the industry nationwide to meet the ever increasing requirement of the industry for years to come. Mr. Getamber Anand, President, CREDAI National and Mr. Nandu Belani, President CREDAI Bengal addressed the concerns regarding the real estate market post demonetization and Union Budget. The occasion also marked PNB Housing Finance Limited (PNBHFL) signing an MOU with CREDAI (The Confederation of Real Estate Developers Association of India) CSR Foundation and CREDAI Bengal to train 1000 construction workers in Kolkata and nearby villages. The programme was officially inaugurated today at the site of Merlin Group – Merlin Maximus, 618 BT Barrackpore Trunk Road, Sodepur, Kolkata.


Mr. Getamber Anand, President, CREDAI National, “Housing sector is heading into a boom fuelled by underlying demand and supported by active Government policy. Infrastructure status to the affordable housing segment in the Union Budget 2017-18 is a decisive measure in pursuit of housing for all by 2022. The move will facilitate flow of institutional funds at cheaper rates. Tax incentives for home purchasers and infrastructure spend increases are other measures that would feed into a robust growth for housing for many years to come.”

Mr. Anand further added, “Adequate supply of skilled workers is necessary pre-requisite to support this growth. CREDAI is a pioneer in skilling of the construction workers through its KUSHAL programme. We are now stepping it up to cover more than 1 lakh workers every year from next year onwards. CREDAI would actively pursue both on site and off site models of skill development to ensure that the employment potential of our sector is fully realized.”

Speaking on the occasion, Mr. Nandu Belani, President, CREDAI Bengal stated, “We at CREDAI believe that the positive impact of demonetization has already started showing up. The result of the initiative in excess liquidity in financial institutions and the recent tax subventions for individuals and in MSME companies will result in generating a good volume of disposable income among the potential customers in the industry. We can also expect banks slashing interest rates on home loans which may also drive home buying further. Thus we expect real estate price to shoot up once again.”  


Under its Skill Development Initiative, CREDAI is conducting the on-site training programs for construction workers through its experienced in-house Training Partners – Kushal, Rustomjee Academy for Skills, Ashiana Training Institute and Dr. K.L. Garg Memorial Vocational Training Institute (Eldeco Group).