The Confederation of Real Estate Developers Association of India (CREDAI) Telangana on Friday announced the election of office-bearers, with the new team now being led by chairman D. Murali Krishna Reddy.
The other office-bearers include president E. Premsagar Reddy, president-elect K. Indrasena Reddy and secretary G. Ajay Kumar.
Speaking on the occasion, the CREDAI chairman described real estate as a key driver of the growth in Telangana. He pointed out that a clear master plan is required for sustainable growth even as he sought CREDAI representation in preparing the master plan. Permissions, with appropriate development charges, should be given based on the master plan.
Touching upon GO 111, he said, “Also, in case of GO 111, which government wants to remove, we propose to incorporate the setting up of environment-friendly amusement parks like Disneyland, and Universal Studio for this area.”
CREDAI plans to set up a Skilling Centre of Excellence to tackle the relatively low productivity of Indian real estate workers as compared to those from China, said Mr.Premsagar Reddy. The Centre will have targeted upskilling programmes. “We will also look at expanding our network by adding chapters from more districts. Presently, we have 15 chapters and would like to add quality builders, who adhere to the CREDAI code of ethics and are committed to offering quality projects to customers on scheduled timelines,” he said.
Mr.Indrasena Reddy said the Indian Real estate sector is estimated to be worth $1 trillion by 2030, and would contribute 13% to the country’s GDP by 2025. “Telangana real estate sector has been witnessing significant and consistent growth since the formation of the State, driven by the proactive policies and efforts of the State government. The business sentiment in Telangana is very positive and the government is ensuring the development of not only Hyderabad but setting up of industrial corridors leading to districts to ensure balanced growth across the State,” he said.
