Real Estate India

CREDAI’s New President Jaxay Shah urges developers to join the “Housing for All” mission, launches 375 Affordable Housing projects with an investment of over 70,000 crores

Jaxay Shah, the newly appointed President of CREDAI reiterated CREDAI’s pledge for realizing Hon’ble Prime Minister of India, Shri. Narendra Modi’s dream of “Housing for All” by committing to an investment of over 70,000 crores in 375+ new affordable housing projects through its member developers under its various State and City Chapters. The project was inaugurated by Shri M. Venkaiah Naidu, Hon’ble Union Minister for Housing and Urban Poverty Alleviation at the Investiture Ceremony of the CREDAI’s new team. The event was also attended by Shri Nitin Patel, Deputy Chief Minister, Gujarat and Shri Shankarbhai Chaudhry, Minister for Environment and Urban Development, Gujarat.

These projects are spread across all over India and involve the development of over 8.60 crore SQ. ft. of land and 20.60 crores+ sq. ft. of construction to build a total of 237000+ houses. The investment involved in these projects is 70,000+ crores. CREDAI is in dialogue with State Bank of India (SBI),it’ss national banking partner to create special financial package both for home loans and for construction finance.

Shri. Jaxay Shah presented Shri. M. Venkaiah Naidu, Minister of Housing and Urban Poverty Alleviation with a manifesto for the term 2017-2019. The 50-page manifesto, details CREDAI’s initiatives in the Skill development, Waste Management and the social agenda of CREDAI.

Speaking on the occasion, Jaxay Shah, President – CREDAI said, “We are all set to embark on a journey of a ‘Naya Daur’ for the real estate industry against the backdrop of introduction of various policy reforms which are aimed at facilitating growth. This presents a huge opportunity not just for our members or our industry, but for the nation itself. India has a recorded shortage of 20 million homes and our endeavor is to ensure that we overcome this shortage by placing consumers at the center of all our efforts. Our 375 housing schemes will realize the dreams of millions of Indians who are waiting to own a house.”

Shri M. Venkaiah Naidu, Minister of Housing and Urban Poverty Alleviation, said, “I would like to congratulate CREDAI on the initiative being taken to align the real estate industry with the objective of Housing for All of the Government of India.

CREDAI with his skilling partner PNB Housing Finance Limited (PNBHFL) has entered into a MoU for skilling of 8000 construction workers during 2017-18. CREDAI has so far trained more than 50,000 trainees in over 100 construction sites across 30 cities and aims to train 1 lakh Construction Workers in a year w.e.f 2017-18. Apart from On-site skilling at construction sites, CREDAI has also started skilling of unemployed youth by setting up off-site skill training centers in places from where labour is traditionally sourced. The first such centres have been set up in Murshidabad and Medinipur in Bengal, Nashik in Maharashtra, Vijayawada in Andhra and Bhiwadi in the NCR region. CREDAI is exploring the possibility of setting up more such centres in the states of Odisha, Bihar, Jharkhand, Chhattisgarh, and places like Dahod in Gujarat, and Gulbarga in Karnataka. The Centre for Entrepreneurship Development (CED), Government of Gujarat also approved CREDAI’s proposal to skill unemployed youth in construction related trades with an aim to make them employable and also to undertake on-site skill upgradation programs for construction workers in Gujarat.

Shri Nitin Patel, Deputy Chief Minister, Gujarat also recite the copy of Memorandum of Association and Articles of Association of CREDAI Clean City Movement Limited (CCCM Ltd). This company is being set up to promote clean and green India drive at the national level. The CCCM plans to cover a Million of household in 30 cities over the next 2 years. Further to this, CREDAI also signed a MoU with Indian Green Building Council (IGBC), part of Confederation of Indian Industries (CII) to for sustainable environment development.

Shri Nitin Patel, Deputy Chief Minister, Gujarat congratulated the new Leadership team on their appointment and further said “I am pleased that CREDAI is adopting a holistic approach to contribute to the country’s development. Their focus on Government of India’s vision of Housing for All and incorporating Gujarat cities in their CREDAI Clean City Movement (CCCM) to make Swachch Gujarat and Swastha Gujarat is also commendable.”

Shri Shankarbhai Chaudhry, Minister for Environment and Urban Development, Gujarat commented “CREDAI’s strong commitment to our economic growth deserves appreciation. Their efforts in the direction of reducing carbon footprints by tying up with CII’s Indian Green Building (IGBC), rating system for green affordable housing can definitely become gamechanger.”

Another landmark initiative of CREDAI is the CREDAI Educational Scholarship Fund (CESF), with the objective of promoting higher education to qualified economically underprivileged students. Under this initiative, CREDAI has proposed “One Child a Day policy to adopt and fund the education of children coming from the underprivileged section of the society.

CREDAI’s social initiative will involve its Youth members so as to prepare the next generation of leaders to take up future responsibilities effectively. Along with this, CREDAI also announced setting up of first ever Women Wing. This will help provide equal representation to women in the real estate field and a platform to shoulder responsibilities. The Women Wing aims to expand its membership base to 1000 women in 75 cities over the year.

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