The Confederation of Real Estate Developers’ Associations of India, (CREDAI), recently held its 4th Edition of the New India Summit (NIS) in the city of destiny, Vizag. The summit intended to foster development and strengthen the growth roadmap of real estate in non-metro cities.
Addressing the gathering the Minister for Municipal Administration & Urban Development, Mr. Audimulapu Suresh noted affordable housing as the prime need of the nation.
He hailed the real estate industry as it supports 250+ allied industries that are dependent on the Housing & Construction sector.
NIS held under its Micro Small and Medium Developers (MSME) wing addressed some of the challenges faced by the realty developers in non-metros and discussed the solutions to enable fast-paced growth for the sector.
The event encompassed insightful discussions & fireside chats highlighting the issues connected with Tier 2, 3 & 4 cities, to come to conclusions and prepare a plan of action to address the challenges.
Speaking at the summit Mr M V V Satyanarayana, MP, Lok Sabha YSRCP, who also happens to be a real estate developer, stated “The current government with its focus on business revival and growth for the segment is undertaking reforms critical for reviving growth in the real estate sector”.
CREDAI National President Mr. Harsh Vardhan Patodia, said, “We at CREDAI believe that the country’s non-metro cities will lead this new revolution. The new scenario requires innovative ideas to tackle this emerging situation”.
Mr. G. Ram Reddy, Vice President, CREDAI National, said, “Tier II, Tier III cities have immense potential as land prices are affordable and land is easily available. ”
CREDAI Andhra Pradesh, President, Mr. B. Raja Srinivas President, stated that “Growth of the real estate industry in MSME segment will lead to a positive upscale in not only strengthening the segment but contributing a large share in providing dream homes to homebuyers, employment opportunities to masses, much needed support to developers leading to a transformed New India”.
Mr. Dharmendra Varada, New India Summit, Convenor “, said, “Events like NIS will only propel cities across India to spruce up in terms of infrastructure and invite FDI into real estate. It will help satellite towns emerge around metros, create opportunities and wean away some of the burden faced by metros”