CREDAI Conclave 2013, New Delhi : Unlimited FSI for Wider Roads and Bigger Plots..

Confederation of Real Estate Developers’ Associations of India (CREDAI) organized the  “CREDAI CONCLAVE 2013”, with a theme, “Housing the Game Changer – Leading to Double-Digit GDP Growth”, at New Delhi, against the backdrop of its continuous efforts over a period of time to persuade and influence the central government to take up many reform measures and policy changes.

Delivering the key note address at the conclave Mr. C. Shekar Reddy, President, CREDAI National said  “The major concerns of the real estate developers / promoters in  India are - The rising price of plot of Land, labour & inputs, High burden of many taxation, High cost of funding due to lopsided funding by banks / housing finance firms, stunted cash flows, delays in NOC & other clearances and approvals besides the outdated FSI Norms . He emphasised on a need to restructure the approach to help the real estate sector contribute more significantly to the Indian Economy.”

 

C Shekar Reddy, President,
 CREDAI- National

Unlimited FSI for Wider Roads...

Appreciating the policy of the government of Andhra Pradesh Mr. C. Shekar Reddy said “Through an order AP government has removed the concept of FSI thereby allowing the developers with unlimited FSI for the projects abetting wider roads and having bigger plots. By this simple initiative, even with higher land costs, the flats are working out to be less expensive making the houses affordable. He urged other states to do away with the FSI concept and help the housebuyers.”

Speaking about the trends in the real estate sector Mr Reddy said, “According to McKinsey Global Institute report, over the next 17 years, the development of the country is expected to create 70% new jobs opportunities in the cities &  these new jobs are going to be twice as productive as equivalent jobs in rural sector. In other words, we will witness urban transformation- the scale and speed of which has not happened anywhere in the world except in China. With this   rapid urbanization, the urban population is poised to grow to 59 crore by 2030. This expected transformation will, if handed well, provide the means to turn around the economy from slowdown to rapid growth. Given the existing housing shortage estimated at 18.78 million dwelling units and the need for about 60mn dwelling units by 2030 as per the report by MoHUPA. The Housing & Real Estate sector is poised to grow rapidly in the next 15 years and require an investment of $ 1.2 trillion in this period. This will require a structured and massive housing program.”

CREDAI - National Secretariat

703, Ansal Bhawan,

16, Kasturba Gandhi Marg,

New Delhi-110 001.

Tel:(011) 43126262/ 43126200

Fax:+91 11 43126211

Email:info@credai.org 

For more information please contact

Mr. Nishanth M: 98840 70861

Konnections

Web Site: www.konnections.co.in

E mail: nishanth@konnections.co.in

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