Introduction

About Credai Confederation of Real Estate Developers Associations of India (CREDAI) is the apex association of developers and builders in India with more than 8500 member developers / builders through 112 member associations with representation in all the major cities and states of the country.

Main Objectives The main objectives of the CREDAI are as enlisted below.

To perpetuate a self-imposed ethical code of conduct that is mandatory for all the member developers/builder of CREDAI to maintain integrity and transparency in the profession of real estate development.

To represent the developers/builders across India by communicating and representing with the government authorities for the formulation of proactive policies for this profession.

To encourage support the developers/builders to increase their efficiency in the development/construction activities by introducing the latest chronologies.

To disseminate the data, statistics & other related information in this profession of real estate development.

To promote the interest of construction workers and to educate them on the best practices.

To encourage research in the profession of construction & real estate development.

To facilitate easy housing finance availability to the property purchasers by working in close coordination with the leading housing finance institutions & banks.

Achievements of CREDAI CREDAI holds the National Convention a year and also holds several city, state and regional level conference & technical seminars.
CREDAI holds the Exhibitions in various cities across the country viz. Delhi, Mumbai, Bangalore, Kolkata etc. and also organizes exhibitions in the Gulf viz. Dubai, Muscat, Kuwait, Saudi Arabia, London (U.K), U.S.A., Far East etc.
CREDAI has initiated several real estate market research projects to locate/understand the demand-supply ratio in the various cities.
CREDAI protested against the steep rise in the prices of cement, steel & other construction materials, which would translate into the escalation in the prices to the property purchasers.
CREDAI has formulated a model code of conduct, which is mandatory for it's member :
) To enable transparency in the business practices in each & every project.
b) To ensure the quality of construction & timely completion with a focus on the infrastructure needs and labour welfare.
c) To ensure consistency in the business practices across the country.

CREDAI has represented the organized real estate developers/builders across the country to the government of India on the various issues at the various points of time. This has resulted in the following measures :

a) Abolishment of the ULC act.

b) Tax concession to the property purchase seeking the housing finance/home loans and to the builders/developers undertaking the residential housing projects.

c) Expedite sanctions of the projects by encouraging the adoption of fast track mechanism by the local government authorities.

d) Proactive policies for the IT & IT based services in the form of property tax concessions etc.

e) Opening of the FDI market in the real estate to enable the slum rehabilitation & low income/low cost housing.

f) URIF ULIF funds to encourage the state government & cities to bring out reforms in the real estate infrastructure.

CREDAI has represented the organized real estate developers/builders across the country to the government of India on the various issues at the various points of time. This has resulted in the following measures :

To bring about the rationalization on stamp duty of 2 to 3% as suggested in the National Housing & habitat Policy (1998) of the Government of India

To bring in amendments in the rent control act at least in the prospective rentals & remove anomalies thereafter.

To enable the uniformity & rationalization of property tax rates across the country.

To enable setting of regulatory commission to review the zoning regulations.

To encourage the real estate mutual funds & real estate investments trusts.

To encourage the diversion of pension, provident fund & insurance sectors into the real estate sector.

To ensure the implementation of all the aspects covered in the National Housing & Habitat Policy & the 10th year plan (2002-2007).

To review and update National Housing and Habitat Policy.

To ensure the fulfilment of National Agenda which has set a target of the 2 million houses (0.7 million units in urban & 1.3 million units in rural areas).

To represent to the Government for evolving policy on low cost/low income mass housing.

To encourage IT & ITES services in smaller towns by bringing out the policy initiatives.

To encourage the nationalized, co-operative banks & other sectors such as insurance, PF, mutual funds etc. to invest in the real estate sector.

To encourage establishment of Real Estate Development Training and Management Institutions