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CREDAI Drafts Comprehensive Agenda to Boost Real Estate Sector
Source: Mar 24, 2011
CREDAI National, the apex industry body for real estate developers, has drafted a comprehensive agenda to provide a fillip to the real estate sector. Speaking to Realty Plus about this agenda, the newly elected Chairman of CREDAI, Pradeep Jain, Chairman, Parsvnath Developers said that they would take up with the government issues like single-window clearance, tax sops and priority lending to buyers as well as builders in the affordable housing segment.

"There is no justification in imposing service tax in this year's Budget when the Government is already charging stamp duty. CREDAI will take up the duality of taxes which is burdening the real estate sector. The issue of timely approvals of projects will be high on our agenda. We demand a single window system that can reduce the construction cost by Rs 500 per sq ft. Our vision is to bring CREDAI at par with other business chambers. We need to work hard with the government for changing the perception about the industry," Jain said.

He also noted that the government should promote affordable housing by providing credit at cheaper rates to home-buyers as well as developers. Lalit Kumar Jain, the newly elected president of CREDAI and Chairman of Kumar Urban Infrastructure Ltd told Realty Plus: "There is a negative perception about real estate community in the government as well as in public's eyes. We will work for changing this perception. A balanced regulatory mechanism will go a long way in increasing transparency and professionalism and in the process improving the image of industry while safeguarding the interests of developers and consumers."

He also informed that CREDAI would prepare a comprehensive check list for single-window clearance. "It would consist of all the requirements pertaining to various government agencies that a developer has to meet for getting approvals. This check-list could be adopted by the state governments for approval process," he said. In its bid to bring in more transparency in real estate transactions and boost consumer confidence, CREDAI, according to Lalit Kumar Jain, is focusing in a big way to set up Consumer Redressal Forums at state level. Already such forums are in operation in the states of Maharashtra, Tamil Nadu, Gujarat, Karnataka, Andhra Pradesh and Kerala. To carry forward its agenda for implementation, CREDAI has formed 16 committees which are headed by real estate visionaries who are its key members.

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