NE BUSINESS BUREAU
CHENNAI, APR 8
The CREDAI expressed confidence that the real estate industry will bloom to 2019 level during the current year, if the pandemic remained under control.
We warmly welcome #CREDAI’s New President @harshpatodia for FY 21-23
With an aim to #ReviveRE, he announces free COVID #vaccination for 2.5 crore #construction workforce along with launch of start-up angel network & #incubation centers#CREDAIChangeOfGuard #CREDAIForFreeVaccine pic.twitter.com/pXQv2w6xCQ
— CREDAI National (@CREDAINational) March 30, 2021
While the sector continues to face severe challenges and is witnessing second major wave of the COVID-19 pandemic, overall the real estate industry has seen a good revival in terms of sales in both residential and commercial segment, said Harsh Vardhan Patodia, President, on Wednesday.
Addressing a virtual nationwide press conference, Patodia said, “Housing sales that fell 40-50 percent across 7-8 major cities last year due to the pandemic could bounce back to 2019-level this year, if there is no complete lockdown to curb the second wave of COVID-19 and more so the importance of owning a home has also been propelled by the uncertainty COIVD has brought in people’s lives. He also added that amid the COVID-19 pandemic, the real estate industry needs to innovate and scout for new opportunities.’’
He also said CREDAI as an apex body will continue to reiterate its pending demands with the government, including stamp duty concessions in all states, infrastructure status for the realty sector, GST input tax credit for both housing and commercial segments, faster environment clearance and easier credit availability.
Patodia shared his vision and execution plan of the key initiatives during the current year.
Free COVID-19 Vaccination Drive for Construction Workers
- CREDAI is writing to Minister of Health & Family Welfare and Minister of Labour & Employment urging them to issue advisories to State Governments on the CREDAI vaccination drive for construction workers
- State Presidents will meet Health Ministers of their respective states
- State / City chapters will collaborate with Government / Private hospitals administering COVID 19 Vaccination in their respective cities / states
- CREDAI will identity construction workers who meet the eligibility criteria and create a database of such workers
- In consultation with Government / Private hospitals and local administration (DM, Collector etc.), CREDAI will mark a day every week for vaccination of construction workers for the next 6 months
- Database will be collected on monthly basis
CREDAI to set up Data Assimilation Centre
- CREDAI Committee on statistics may develop formats including data points that must be recorded on a monthly basis by all city chapters
- State Presidents will be encouraged to tie up with agencies like CRISIL or any other agency to undertake data collation on a quarterly basis
- Data will be submitted to the Committee with 15 days of quarter end
- Extracts from the data will be shared across
Launching Incubation & Acceleration Centre to support start-ups in real estate sector
- CREDAI Start-up Angel Network and Incubation & Acceleration Centre will be set up a fund to support tech startups in the real estate space which will help the sectors growth
- CREDAI will make membership network available to the start-ups for a strong industry collaboration and business development
CREDAI Version 2 launched with the theme “Reboot and Restrategize” was addressed by Harsh Vardhan Patodia; Satish Maghar, Chairman, Boman Irani, President Elect; Pankaj Goel, Secretary.
Key aspects that required to transform the Indian Real Estate Landscape in the coming year were also discussed, Patodia added.
