Connect with us

Events

CREDAI Conducts The UP Ahead Conclave 2017

Published

on

CREDAI Conducts The UP Ahead Conclave 2017

The Confederation of Real Estate Developers’ Associations of India (CREDAI) held its conclave in Lucknow called the ‘UP Ahead’ on Sunday, 23rd July 2017.

The Honourable UP Chief Minister and Chief Guest for the evening, Yogi Adityanath surely made his presence felt with a striking speech. He took the centre stage and commanded each one’s attention. Shooting directly to the pain point’s of real estate industry, the CM advised developers to build trust among buyers to promote their business.

He said, “Lack of trust is a big issue between builders and buyers and incomplete projects create a big problem for the state.” He took the example of NCR and said, “We come across a lot of complaints from Noida and greater Noida. Over 1.5 lakh buyers have deposited money but have not been given the possession of their houses.” He explained while some builders have taken positive step after their efforts there are many who are yet to act. He warned if dialogue doesn’t get a solution then strict action will be taken by the government. Thus, appealing to all the builders to take correctional steps.

Talking about the essential agenda of the evening, he said that PM Narendra Modi has set an ambitious goal of providing a house to every Indian by 2022, but he is hopeful this target will be achieved before the deadline. He said under the Pradhan Mantri Awas Yojana the state government is set to provide 10 lakh houses in rural areas and two lakh houses in urban areas within this financial year. He went on claiming that the government assistance has already been given to six lakh people in rural areas, where around 48 lakh do not have their own houses.

He further added that his government has allocated Rs 3,000 crore for the housing schemes this year. He wanted the developers to know that were innumerable opportunities for growth in Uttar Pradesh with 13 cities being developed as ‘Smart Cities’ and 61 cities have been selected under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) scheme.

The atmosphere did get tense between the state government and the CREDAI members as the CM asked them to register themselves under Real Estate Regulatory Authority (RERA) act through a web portal scheduled to be launched on July 26. The last date for developers to register under the RERA act is July 31.

CREDAI president Jaxay Shah, however, said the web portal had come up too late and it takes at least 4-5 days to register one project. He elaborated “Any such facility could have come up a year ago when RERA act was announced. Former urban development minister Venkaiah Naidu has been calling up on the state government to set up the RERA authority but his call did not elicit any response.” Adding further he pointed that the new government has been in reign for around four months in UP but still no steps were taken in that direction.

Shah also pointed at the unfortunate RERA accountability where it only held developers for any delays in projects. He added, “The role of state government and bureaucracy should also be taken into account.”

Lastly, the chief minister also released the cover of an upcoming biography titled ‘The Monk Who Became Chief Minister’, written by Shantanu Gupta.

Also Read: CREDAI National Investiture Ceremony 2017

Events

UAE-INDIA At The Smart Summit Of Realty

Published

on

UAE-INDIA At The Smart Summit Of Realty

The bigger picture got SMARTER, as Indian real estate sector transcended nations, taking the investment avenues to the world stage. The Confederation of Real Estate Developers’ Associations of India (CREDAI) held its first international exhibition of Indian properties in Dubai. This Indian Property Show became the platform where the affluent NRI’s in UAE were showcased the prime Indian properties. The show catered to the dreams of the NRIs, about 2.6 million of them, to own a property back in India.

This internationally acclaimed Indian Property Show turned out to be the largest Indian property exhibition, held on 7th, 8th & 9th of December 2017, at the Dubai World Trade Centre. The NRI communities mainly consisted of investors, the prime audience for Expo, as recently the new initiatives taken in the market have successfully captivated their interest. Being the uncapped market, the NRI investing sector has now become the foremost objective. The government and the CREDAI has taken some path-breaking initiatives in order to introduce the Indian real estate sector to the international investors.

As the investment in India, by Dubai NRIs’ is reaching USD 100 billion by 2020, turning out to be a positive sign for Indian developers. The recent government reforms like GST, RERA have brought a sense of accountability and complete transparency. These steps have revived the trust in the NRI consumers as they have started taking interest in the Indian real estate. Hence every Indian developer made the best use of this opportunity and showcased their best.

UAE-INDIA At The Smart Summit Of Realty

The major intention of the EXPO was to introduce the buyers to the latest trends of market, its policies and dynamics. The Indian Property Show joined hands with the CREDAI’s Smart India Realty Summit, providing a boost and helping NRIs to make informed decisions for their property purchases. Hence devising a smart strategy based summit, where one-on-one meetings, seminars and networking events were held, thus changing the face of the Indian real estate forever.

The first one-on-one meeting, kick-starting the summit, was the Foreign Institutional Investment (FII) MEET. Where the investors met at a round-table conference to facilitate the business deals and closure. Followed by a PROJECT HANDBOOK LAUNCH, which provided information to FIIs, fund managers, High Net-worth Individuals (HNI) and foreign investors in desired format. Also the top projects of the 50 participating developers were featured in the Handbook. The participation fees of this event being Rs. 3 Lakh plus taxes.

The investment industry experts explored the possibilities in External Commercial Borrowing (ECB), Investment potential of Real Estate Investment Trusts (REIT), opportunities in affordable housing and international realty market. This event shaped out as an exclusive knowledge sharing in various Seminars and Conferences at the Expo. The participation costed Rs. 7500 plus taxes.

One of the highlights of the event was UAE CHANNEL PARTNERS MEET, where the developers from both the countries met one-on-one and explored the investment avenues of property sales in international market.

To celebrate the excellence of the real estate in India and UAE, an award show was also hosted at the event. The elite audience mainly consisted of the conference participants like the Developers, High Net-Worth Individuals, Foreign Institutional Investors, Fund Managers, Architects, Contractors and Bankers.

A special event showcased the opportunities for mega initiatives taken by the government, in the various regions, was also held. This FOCUSED REGION SHOWCASE included the smart cities, economic regions, free trade zones and cluster development projects, to pitch the high net worth individuals from India for investment. On the completion, this unique show gave assurance of a bright future for this franchise, bringing out the best of the Indian real estate.

Continue Reading

Events

Real Estate Giants Opens The FOAID 2017

Published

on

Real Estate Giants Opens The FOAID 2017

Set to recognize outstanding work in the world of design and architecture, FOAID aims to create a benchmark where the stalwarts & the future designers share a common platform. Festival of Architecture & Interior Design (FOAID) is a festival of creative minds to meet & discuss the new facets of the design fraternity. In a fast growing field of architecture, FOAID dedicates exceptional explorations at the new horizon of the design industry for a better future.

This year, the two-day festival will hold a gathering of thousands of design professionals and registered delegates from across the country. Following the previous year, this time the main event, Design Arena, will be held on a grander scale. Design Arena is a unique concept where the peers from the industry and the leading product suppliers come together to discover the latest trends of Design.

A staggering 30,000 sqft of Design Arena is ready to display the latest work by the design giants. An additional plus is the presentation of the innovative products by leading brands. In accordance with the recent developments, this festival initiates from 1 December. The main highlight being the inauguration at The Lalit, Mumbai. It will be followed by a Keynote and a Special address by two distinguished guests, Mr. Niranjan Hiranandani of Hiranandani Developers and Mr. Boman Irani of Rustomjee Developers respectively.

This event is not only important for the professionals but also for the young entrepreneurs as well as the students, who wants to pursue a career in design and architecture. The informative session at the Design Arena, will provide the audience with an inside glimpse of the designing game and will inspire them to innovate and implement the creative ideas in their lives. Even the students will get to share the stage with the respected architects and designer by displaying their projects.

More and more initiatives are being taken every year to encourage the profession of architecture and design.  One such great initiative taken this year is the addressing by Mr. Niranjan Hiranandani and Mr. Boman Irani. They will be providing valuable insights on real estate sector on the first day of the FOAID.  This enriching experience will commence the celebration of the glory of Indian Architecture & Design.

Continue Reading

Events

CREDAI-MCHI Maha Property Expo 2017 Brings Achhe Din

Published

on

CREDAI-MCHI Maha Property Expo 2017 Brings Achhe Din

Property Expos have become a significant platform for builders to showcase their properties and for the buyers to explore all the options under one roof. This has really become the preferred option as it saves the buyers the trouble of visiting a number of properties.

If you are serious about buying a property then we suggest you preplan certain things. Do a thorough research about desired micro-markets, amenities, location, budget and specific requirements along with the developer’s reputation and past projects. This will greatly help you to shortlist your choices and make the right decision.

Mayur Shah, president, CREDAI-MCHI said, “The aim of organising the expo is to get the fence sitters back into the market and create an upward movement. The festive season, which has just concluded, proved to be lucrative for a majority of the developers. Hence, we believe this exhibition will further entice the demand”.

Any aspiring buyer should consider all the options before making the final decision. Doing market research on your part won’t hurt and give you a better idea of the present market scenario. Buyers often over-commit on their home loans however it is wise to realistically project your present earnings and future earning potential. It is always better to buy a home within one’s means and later upgrade to a bigger home.

“It is crucial to ensure that the project is registered with RERA. If the exhibition is in an area where RERA is not yet operational, they should ask to see all the important documentation pertaining to the project and property, such as commencement and occupation certificates, environmental clearance certificates, etc. If these are not immediately available at the exhibition, buyers can request for them to be mailed to them. Finally, it is highly advisable not to make a final purchase decision without consulting with an independent and a reputed real estate expert”, added Anuj Puri, chairman, ANAROCK Property Consultants.

While you are at the expo, make sure you glance through all the booths and identify your preferred properties; first move to your shortlisted projects/developers without wasting time; enquire about the proposed civic infrastructure that is coming up near the projects and timelines for the same; also look at the finance options, bank loan tie-ups, etc. associated with the project; lastly understand and factor in the tax benefits for first-time home buyers: deduction on interest paid for the loan, deduction on principal repayments and deduction on stamp duty and registration charges.

Nayan Shah, president elect, CREDAI-MCHI said, “The government has taken all the right steps in providing the robust infrastructural framework. On our part, we are ensuring that only reputed developers stay in the market and operate. And with this being one of the biggest and first exhibitions post RERA, our hopes are quite high”.

“The developers are adhering to the guidelines set by the government and hence, the potential homebuyers are convinced that they are here not to be cheated. The aim of the exhibition is to get all the developers and home-buyers on one platform”, stated Boman Irani vice-president, CREDAI-MCHI

Continue Reading

Trending