CREDAI NCR Announces Leadership Team 2015-2017

CREDAI NCR, the NCR chapter of Confederation of Real Estate Developers Associations of India (CREDAI) elected the new leadership team after the General Body Meeting held on the evening of 9^th April 2015 in New Delhi.

The new team takes charge at a time when the Union Government has announced various reforms for the sector like ‘Housing for all by 2022’ and ‘100 Smart Cities’ to name a few. With these positive steps, the focus of the new Leadership team will be to work closely with the Government to help achieve these objectives and ensure transparency at all levels.

The new team at helm will be led by Mr. Manoj Gaur, who has been appointed as the President for this term.

Speaking on the occasion, the newly appointed President Mr. Manoj Gaur said“ The real estate sector carries the responsibility of nation building through involvement of all the stakeholders. The sector’s contribution to the country’s GDP is in excess of 6%. We are the second largest employer in the country supporting more than 250 allied industries. A guided effort can help the sector become one of the most preferred domains for investors, buyers and employees apart from the government bodies in days to come. With the set-backdrop of challenges that the sector is currently facing, we will be responsible to work closely with various government departments to shape the future of the region’s realty sector. Also there is a need to change perceptions on real estate industry as the key task before the Organization which has embraced skill development, cleanliness and labour welfare as its abiding commitments. We will also be focusing on the core objective of CREDAI such as Transparency, single window clearance and code of conduct”

He further added, “Our theme Clean India - Skilled India - Strong India resonates the realty sector’s resolve to work effectively towards its commitment to the development of housing and habitat in India. Our commitment to Skill Development is especially meaningful to us since our sector is the largest employer after agriculture. I am also very proud to share that we, at CREDAI have become the first among the associations of industry to adopt the Swachh Bharat mission as an organizational endeavour.”

The new team will have the following members on board of the Executive Committee:

The following members have been appointed/ elected to the Governing Council Board:

The newly elected leadership will be responsible for working closely with various quarters of stakeholders and help to shape the future of the region’s realty sector in right direction.

The biggest challenge that lies ahead for the new leadership team is to work towards changing the perception of the sector that has been facing challenging times from various extrinsic factors, economic and regulatory.

The team has listed the challenges that the sector is facing, and set clear short-term and long-term goals

1. Industry status for the sector

2. Infrastructure status for Affordable Housing Projects

3. Concerns to be addressed in the Real Estate Regulatory Bill

4. Extension of benefits under Section 80-IA of Income Tax Act

5. Inclusion of insurance companies and other long-term lenders for loans to Affordable Housing projects

6. Automatic approval route for ECB

7. Extension of income tax benefits available through 80-IA and 80-IB of IT Act

8. Implementation of REITs and Infrastructure Investment Trusts as “Tax Pass Throughs

9. Clarity on issues related to

- MAT (Minimum Alternate Tax);

- DDT (Dividend Distribution Tax)

- Multiple stamp duty structure

10. Single-Window clearance

11. GST for real estate sector

The sector is pivot to the economy of the country and increased attention will be paid towards the sector’s role towards skill development, cleanliness and labour welfare, as well as development of allied sectors.

About CREDAI – NCR:

Established in the year 2002, The Confederation of Real Estate Developers’ Associations of India NCR better known as CREDAI NCR is the apex body for private real estate developers in ‘National Capital Region’ and is the NCR Chapter of CREDAI which is representing over 11,500 developers through 23 states and 152 city level member associations across the country. CREDAI has distinguished itself by adopting a Code of Conduct which binds all its members to follow ethical, fair and transparent business practices. All Members of CREDAI are bound by this Code of Conduct and CREDAI has set up a Consumer Grievance Redressal Mechanism for its implementation. As opportunities in housing and shelter grow to reflect the shelter and habitat requirement of India’s economy, CREDAI has become the preferred platform for developers and is a regular participant in the policy formulation across the different hierarchies of governance from municipal bodies to the Central Government.

Recently, CREDAI NCR also played a key role in conducting several big events and workshops with CII, ASSOCHAM, PHDCCI in NCR region and even participated in Infrastructure & Property Show 2015 at Vibrant Gujarat Global Summit - Vision of Hon’ble Prime Minister - Shri Narender Modi.