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CREDAI is the apex of organized real estate developers and builders with 20 state and city level associations spread across 18 states of India as its members.
Proactive Policies for Real Estate Sector
The primary aim of CREDAI is to represent its member developers and builders and communicate their needs to the government authorities for formulation of proactive real estate development policies. These efforts of CREDAI have resulted in the abolition of ULC Act, fast track mechanism to expedite the sanction of projects by local authorities, opening of FDI in real estate market for slum rehabilitation and low cost housing etc.
Model Code of Conduct
One of the major objectives of CREDAI is to propagate an ethical code of conduct for its member developers and builders. To further this objective it has introduced a mandatory model code of conduct. It seeks to promote transparency and integrity in the business practices, ensure quality of construction and timely completion of projects with focus on labor welfare and consistency in business practices across the country.
Other Functions
CREDAI supports its members to increase their efficiency in construction activity by introducing latest technologies. It disseminates latest real estate development data, statistics and information to its members. It promotes the interest of construction workers and educates them on best practices. It encourages research in real estate development and construction.
Activities
CREDAI holds an annual national convention to outline the future course of the real estate in India and reckons its contribution to add to India’s global stature.
It also holds various exhibitions across the country as well as organizes exhibitions in the Gulf, U.K., U.S.A. and the Far East.
Recently, it protested against the steep increase in prices of cement, steel and other construction material which would translate into escalation of prices for property purchasers.
Unfinished Agenda
CREDAI is working to:
- Bring about the rationalization in stamp duty of 2 to 3%.
- Enable rationalization and uniformity of property tax rates across India.
- Facilitate setting up of regulatory commission to review the zoning regulations.
- Promote real estate mutual funds and real estate investment trusts.
- Persuade the diversion of pension, provident funds and insurance sector into real estate sector.
- Review and revise the National Housing and Habitat Policy.
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