Latest news with #Credai
Hans India
4 days ago
- Business
- Hans India
New Credai Hyd team pushes for reforms, infra boost
Hyderabad: The newly-elected leadership of CredaiHyderabad has unveiled a progressive roadmap for the city's real estate sector, pledging holistic development, policy reforms, and infrastructure support. In its first formal media interaction since taking office on June 20, the committee outlined its vision for a more inclusive, transparent, and investment-friendly property market. N Jaideep Reddy, president, Confederation of Real Estate Developers' Associations of India (Credai) – Hyderabad, described the new leadership team as 'young, diverse, and energetic', representing all geographical quadrants—North, South, East, and West Hyderabad. He emphasised that many of the current office bearers are second-generation developers who rose through the Credai Youth Wing, which now comprises over 100 active members. 'Our team is rooted in experience and driven by fresh energy,' Reddy said. Within just three weeks of assuming charge, Credai Hyderabad has initiated dialogues with key government departments, especially the Municipal Administration and Urban Development (MAUD), to address long-pending regulatory and operational challenges. Reddy termed the government's response 'very positive', citing encouraging movement on stalled issues. The real estate sector in Hyderabad continues to exhibit strong fundamentals. According to Credai, property registrations in May 2025 alone crossed Rs 4,300 crore, registering a 14 per cent year-on-year growth. This surge, Reddy noted, is supported by Hyderabad's expanding employment hubs, a favorable investment climate, and ongoing infrastructure upgrades. Looking ahead, the city is expected to add nearly 200 million square feet of office space by 2026, fueled by rising demand from Global Capability Centers (GCCs) and sustained public investment in infrastructure. Projects such as the Regional Ring Road (RRR), Phase-II of the Metro Rail, and elevated corridors are set to significantly boost urban connectivity and ease mobility across the city. A major initiative announced was a mega property exhibition scheduled for August 15–17 at the Hitex Exhibition Center. The event will showcase over 300 real estate projects, including luxury apartments, villas, and gated communities, across more than 70 stalls in two large halls spanning 80,000 square feet. 'This show will be a one-stop destination for homebuyers to compare, clarify, and choose properties under a single roof,' said Credai convenor Kurra Srinath. The exhibition will also feature cultural elements such as Telangana's traditional art, crafts, and food courts to create a festive atmosphere for families. CredaiHyderabad is also pressing for key regulatory reforms. The body called for a reduction in stamp duty and simplification of approval processes, which are currently mired in bureaucratic delays across departments such as HMDA, GHMC, and the Water Board. Developers are often required to obtain water feasibility certificates despite the absence of a standard process. 'To truly improve ease of doing business, we urge the state to unify these services under a single-window clearance system that integrates fire safety, electricity, water, and municipal permissions,' said a Credai representative. Another contentious regulation under scrutiny is the mortgage clause mandated by GO 86, which requires developers to mortgage 10 per cent of the land. 'Given the full implementation of RERA, this clause is outdated. We are requesting its revision or removal,' Credai leaders argued. Responding to perceptions that West Hyderabad is the city's only growth zone, the leadership highlighted robust developments across North, East, and South. 'The people tend to focus on the West due to higher visibility and marketing, but the real growth is across the city,' they asserted. With recent rate cuts by the Reserve Bank of India making home loans more affordable, Credai Hyderabad believes now is an ideal time for buyers to invest. 'Hyderabad remains more affordable than metros like Bengaluru or Chennai. With better infrastructure and quality of life, the timing couldn't be better,' they added. Concluding, Reddy reiterated the association's commitment to sustainable, inclusive growth and collaboration with all stakeholders. 'CredaiHyderabad is ready to lead from the front and ensure our city remains one of India's most vibrant real estate destinations.'
Time of India
08-07-2025
- Business
- Time of India
Gujarat winning the ‘plot', 215 projects in '24-25 alone
Ahmedabad: Gujarat continues to see an upward trend in plotted projects, with 215 registered with GujRERA in 2024-25 alone, the highest ever in a single year in the state. Experts said the actual number could be higher as many plotted projects do not require RERA registration. In 2024-25, a total of 14,339 new units in plotted development were registered, which is also 43% higher than the previous year. Since RERA implementation, Gujarat has seen the registration of a total of 851 plotted projects with an investment of Rs 5,942 crore and 66,314 units. Ashish Patel, national vice president, Credai, said, "Plotted schemes have increased in recent years because it gives faster rotation of money to developers because construction is less. People want to buy a piece of land in gated communities, and this is driving demand. Plots give good appreciation on the money invested, and therefore, investor demand is better in this segment." A recent GujRERA report says, "Plotted development projects saw explosive growth in 2018-19 (265.2% projects, 340.3% units) but declined in 2019-20 (-28.6% projects, -63.1% units). Strong recoveries in 2021-22 (46.9% projects, 123.2% units) and 2022-23 (69.1% projects) continued, with 2024-25 showing robust growth (41.4% projects, 56.8% investment, 43.3% units). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Pensia Pilon 3 NN Pensia Facultativă NN Vezi oferta Undo Plotted development prices rose from Rs 6,863 per sq mt to Rs 14,124 per sq mt, reflecting high land demand. " You Can Also Check: Ahmedabad AQI | Weather in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad Ajal Patel, a developer active in plotting schemes, said, "Ahmedabad has seen higher demand for plotted development after Covid. People want to ensure a certain future lifestyle, and therefore, they prefer plotted development. Ahmedabad is growing rapidly, and the plotted development offers an upgraded lifestyle." A leading developer said, "After Covid, plotting schemes saw good demand because many investors decided to invest in plots because other business sectors were not performing well. There was a good return also on their investment." According to sources, the actual number of plotted projects is higher than the RERA registered numbers because a large number of plotted projects do not fall in the geographical areas where RERA registration is a must. However, for the last few months, real estate is passing through a sluggish phase, and plotted development is also experiencing relatively low demand as people are in a wait-and-watch mode, said a developer.
Time of India
26-06-2025
- Business
- Time of India
Housing units sale dips 20% YoY in metros
CHENNAI: Top metros recorded a YoY decline in housing sales for the second consecutive quarter during the current calendar year. Housing sales dropped by 20% in Q2 CY2025 at 96,285 units against 1,20,335 units in the same quarter last year (April-June CY2024), a report by property consultant Anarock said. Tired of too many ads? go ad free now The dip was 28% in the previous quarter Q1 (Jan-March) CY2025 over Q1 CY2024. However, housing sales marginally rose by 3% QoQ (Q1 vs Q2) this year (CY2025). The report released on Thursday said, Mumbai Metropolitan Region (MMR) and Pune with the highest sales among the seven top metros in Q2 CY2025 at 31,275 units and 15,410 units, respectively, recorded dip in sales by 25% and 27% YoY. Chennai was the only metro that witnessed an YoY increase in sales by 11% at 5,660 units. In contrast, housing unit sales rose by 14% YoY between Q2 CY2024 and the corresponding period of CY2023. On a QoQ basis, sales in MMR and Pune were down by just 1% and 4%, respectively, while developers in Bengaluru, NCR and Hyderabad had a 1%, 14% and 9% growth in sales. Anuj Puri, chairman – Anarock Group, said, "The second quarter of 2025 was a rollercoaster for the Indian housing market, rocked by major military actions at home and abroad. The war-like climate pushed homebuyers into wait-and-watch mode, compounding the impact of soaring property prices over the past two years. " Shekhar G Patel, president, Credai, said the slowdown in quarterly sales observed in some markets can be attributed to a combination of elevated input and land costs, inflationary pressures on household budgets, and a more measured pace of new project launches—factors that have contributed to temporary caution among certain buyer segments". Tired of too many ads? go ad free now "However, this short-term trend should not be viewed as indicative of the sector's overall health. The RBI's recent decision to reduce the repo rate by 50 basis points is expected to positively influence buyer sentiment. With another rate cut anticipated later this year and the festive season approaching in Q3 and Q4, the housing sector is poised for a gradual but steady recovery in the second half of 2025," he told TOI. Pradyumna , executive director, Brigade Group, said, the increase in housing sales in Bengaluru and Hyderabad during Q2 CY2025 can be attributed to the potential turnaround after a subdued Q1.
Time of India
20-06-2025
- Business
- Time of India
1% stamp duty hike likely to overcome Q1 property revenue shortfall
Bengaluru: Revenue shortfall from property registration in the first quarter of this fiscal has prompted the Karnataka govt to actively consider increasing stamp duty by 1%. The stamp duty was last revised in 2013. At present, the govt levies 5% stamp duty on the guidance value (minimum selling price of property fixed by the govt), 1% registration fee, 0.5% cess, and 0.1% surcharge. In all, property buyers pay 6.6% in cess and duty. They might end up 7.6% if the govt clears the hike proposal. Chief minister Siddaramaiah, who holds the finance portfolio, convened a meeting on June 18 to review the performance of the department of stamps & registration. Taking a serious note of the shortfall, he reportedly directed both finance and stamps & registration departments to take measures to improve revenues. Finance officials suggested upward revision in stamp duty. Sources said the CM will take a final call once there is consensus between revenue and S&R departments. Karnataka has the lowest stamp duty among its neighbours, barring Andhra Pradesh. Tamil Nadu levies 11% that includes stamp duty and registration fee, and Maharashtra imposes 7%. Underwhelming revenues from property registration have been a cause of concern, as it potentially implies a sluggish real estate sector. While Siddaramaiah fixed a target of Rs 26,000 crore for 2024-25, he was forced to downscale it to Rs 24,000 crore. But the department could collect only Rs 22,500 crore by the end of the year. This fiscal, the CM fixed a target of Rs 28,000 crore. Going by this, the department was to have collected Rs 7,000 crore on average in the first quarter that ends on June 30. It collected Rs 5,556 crore, logging a 35% shortfall. "The govt is obviously worried about the revenue shortfall, but a stamp-duty hike is not the solution. It should realise that the shortfall is mainly due to the ill-implementation of the policy mandating e-khata for registration and tech glitches in the Kaveri portal. The govt does well to rectify this instead of hiking stamp duty," said T Bhaskar Nagendrappa, state president of Credai (Real Estate Developers' Associations of India). He said the govt increased its guidance value by 39% in 2023, and any hike in stamp duty would make property purchase costlier and negatively impact the sector. "The irony is the govt decided to keep sub-registrar offices open on weekends. But what's the use if the portal is glitch-ridden and e-khatas are not issued," said one sub-registrar. Ends GFX Sagging S&R Revenues 2024-25 Original target: Rs 26,000 crore Revised target: Rs 24,000 crore Achieved: Rs 22,500 crore 2025-26 Annual target: Rs 28,000 crore Target till June 30: Rs 7,000 crore Achieved till June 19: Rs 5,556 crore Source: GoK
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Business Standard
13-06-2025
- Business
- Business Standard
Credai, Adani Cement tie up for workforce skilling, green construction
The Confederation of Real Estate Developers' Associations of India (Credai), which represents over 13,000 private real estate developers, on Friday announced a strategic partnership with Adani Cement to accelerate sustainable construction and workforce skilling. As part of the agreement, Adani Cement will become Credai's preferred partner in providing its portfolio of Green Rating for Integrated Habitat Assessment (GRIHA)-certified products, including green concrete solutions, advanced additives and technical services. The conglomerate will also offer on-site technical support and knowledge-sharing programmes to upskill engineers and construction professionals within the Credai network. Green and Skilling Councils to be launched The partnership will also entail the launch of a Green India Council and a Skilling Council, both aimed at building an environmentally conscious and professionally equipped real estate sector. The Green India Council will oversee a wide spectrum of sustainability initiatives, including large-scale reforestation efforts aimed at converting barren landscapes and significantly increasing green cover. 'The council will also support urban forest creation, greening of public spaces, and adoption of green building standards nationwide,' Credai said in a public statement. The Skilling Council, meanwhile, aims to create a future-ready workforce, with active participation from Credai's state chapters and member developers to drive large-scale upskilling across regions. Addressing skill gaps in real estate While the real estate sector is one of India's largest employment generators, persistent skill gaps across the workforce impact efficiency, project timelines and on-site safety. With a goal of training a large number of workers over the next five years, the Council will roll out targeted programmes across 25 cities. The first phase, set to launch by mid-July 2025, aims to train over 15,000 workers. Commenting on the partnership, Shekhar Patel, President of Credai, said the launch of the Green India Council and Skilling Council marks a decisive step towards integrating sustainability and workforce development into the core of the industry. 'These initiatives reflect Credai's commitment to a built environment that drives economic growth, protects the environment, and uplifts communities,' he added.
