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Indian Real Estate News
New dimension to real estate sector in India
Source: Jan 27, 2012
The real estate sector plays a crucial role in the Indian economy. The housing sector alone contributes to 5 per cent to 6 per cent of the country's GDP. However, with this immense contribution, the real estate sector has always been looked upon as Unorganised sector.

To create a bridge of understanding and credibility, an apex body of real estate developers was formed called CREDAI - 'Voice of the Industry.'

'CREDAI' stands for the Confederation of Real Estate Developers Association of India. It is the apex body for private real estate developers in India.

It represents over 6,000 developers through 20 member associations across the country. Its numerous initiatives and activities help developers come together and work towards better practices, improved customer service and a stronger realty industry.

Four principles

Credai is based on four cardinal principles - to facilitate, to promote, to build, and to serve and prosper..

It facilitates interactions within the real estate community through events and seminars and encourages discussion and debate on key issues. We invite expert opinions on issues of concern and disseminate information about latest industry developments, policy matters to our members.

It promotes ethics and transparency through the Credai Code of Conduct, which is self regulatory. It encourages best practices to maintain the harmony and dignity of the developers, promoters and builders. It also promotes and encourages fair and transparent dealings with the customer.

Building relationships

Credai builds relationships between developers, the Government, financial institutions, media and professionals and builds bridges with the government through representations, debates, media coverage and legal action.

It serves the developer community, by being their voice, a resource, a good   listener and a loyal supporter. It supports the government by bringing the industry's point of view to the forefront and assists the real estate industry by working towards a positive, organized growth pattern. Recently, Credai has envisaged on promoting their initiative -'Mission Transparency.' This is an initiative to promote transparent real estate transactions. With the 'Mission Transparency' drive Credai looks forward to establishing a relationship of goodwill and credibility with all the stake holders.

The Indian real estate sector is reckoned to be one of the primary growth engines of the Indian economy and is slated to touch $180 billion by 2013 and needs to be organised.

Stringent code

A stringent code of conduct and vigilant regulations are imperative for transparent dealings for building a strong and credible relationship with the customers.

The evolved logo of Credai also speaks of a corporate commitment for growth and progress. The logo, the identifying element of Credai is a combination of green and maroon colours. Green symbolizes the freshness of thought and a commitment to environment, and the colour maroon is symbolic of courage and strength. The maroon arrow device creates and interesting visual with two implications - One for representing upward movement and growth and the second a representation of shelter for India.

With various wings of Credai active in India, Credai Mysore is actively progressing towards achieving its mission of state visibility. The Credai, Mysore Chapter along with Builders Association of India (BAI), Mysore Chapter have jointly organised various technical seminars and property expos, undertaken various CSR activities, and represented the real estate fraternity to interact with the Governmental agencies.

The developers of Mysore have also promoted their projects with the logo of Credai, as a seal of credibility associated with the project. The transformation of the real estate sector into an organised, forward looking and modern Industry will benefit all of us and help us grow and influence over the next few decades.

As stated by Franklin D Roosevelt - "Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world" and Credai with this task stands tall with its aim of accelerating the rapid growth and creating a flawless real estate sector.

Tag: Real estate in india, property in india, indian properties
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