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News from the various chapters of CREDAI

Jun 3, 13 • real estateNo CommentsRead More »


Open deliberations at Open House Meeting Untitled-1

An Open House meeting was organised by CREDAI Bengaluru at Sigma Hall, Hotel Chancery Pavilion where 57 member companies took part in discussions on various topics related to the real estate sector. A power point presentation was arranged on Green Building Movement in India by CREDAI Bengaluru member, Beary’s Properties’ CMD and IGBC Karnataka Chapter chairman Syed Beary. Since its inception, CREDAI Bengaluru has encouraged such initiatives for open deliberations among members represented by promoters/ directors/ top management of member companies for better future.

 Pre-Budget Memorandum submitted Untitled-1

CREDAI Bengaluru president R Nagaraj submitted a pre-budget memorandum 2013-14 letter to Chief Minister Jagadish Shettar and Commissioner, Department of Commercial Tax, during a meeting on January 21 at the Conference Hall, Vidhana Soudha, Bengaluru. Vice president JC Sharma, secretary Suresh Hari, joint secretary Siddique Beary, S Faisal Fizvi, Kishore Jain and CEO Anil Nayak, along with 40 industries and trade body associations, were present during this meeting.

Andhra Pradesh

CREDAI Guntur chapter inaugurated

On January 25 this year, the Guntur Chapter of CREDAI was inaugurated in the presence of Minister for Municipal Administration & Urban Development Maheedhar Reddy, the chief guest on the occasion and Minister for Agriculture Khanna Laxminarayana, the guest of honour. Builders from other municipalities like Mangalagiri, Tenali, Baptla, Chilakaluripeta, Narsaraopeta also participated in the inaugural event.

Special guests at the event were CREDAI AP president C Sekhar Reddy Garu, Guntur East MLA Sk Mastanvali Garu and GMC commissioner K Sudhakar Garu. CREDAI Kakinada Chapter organised a three-day Home Expo 2013 with 80 stalls at Kakinada on January 25. It was inaugurated by Minister for Registration & Stamps Thota Narsimham who was the chief guest while MLA Dwarampudi Chandrasekhar Reddy was the guest of honour.

Wake up, clean up Bengaluru

Untitled-1An initiative of BBMP, ‘Wake up, Clean up Bengaluru, and supported by CREDAI Bengaluru for developers, property facilities management companies, apartment and residents and Resident Welfare Associations was inaugurated by Karnataka chief minister at Freedom Park, Gandhi Nagar, Bengaluru on February 3, 2013. The week-long programme, exclusively arranged on February 8 for developers, was attended by CREDAI Bengaluru president R Nagaraj, president elect CN Govindaraju, secretary Suresh Hari, joint secretary Siddique Beary, CREDAI Bengaluru member KK Malpani, past presidents A Balakrishna Hegde and Ramani Sastri, past secretary Shankar Sastri, CEO Anil Nayak, Naresh Kumar and other members of CREDAI Bengaluru.


New leadership at CREDAI-NCR avows to take the mandates of Confederation proactively Untitled-1

CREDAI-NCR recently announced the appointment of Amrapali Group CMD Anil Sharma as its president for 2013-15. He succeeds the astute and successful domain of Pankaj Bajaj. On the occasion, the members of the association elected three vice presidents, a secretary, a joint secretary and a treasurer. The new CREDAI-NCR leadership team will now have Manu Garg, RC Gupta and Gautam Bhalla as vice presidents, Manish Agarwal as secretary, Pankaj Goel as joint secretary and Ajay Singal as treasurer.

The newly-elected team acknowledged the umpteen task of incorporating a defined new order in working towards the challenges faced by the sector of economy thereby strictly adhering to the preambles, the guidelines and the mission, vision and philosophy of the Confederation. As such the governing body chaired by Anil Sharma laid out its road-map, priorities and challenges before the Governing Council.

Outlining the way ahead, Sharma said, “Despite bottlenecks and challenges, the property market of Delhi-NCR has experienced an upward trend. We would strive to keep this going. For customers, we will continue to be committed towards transparency and would certainly be proactive in addressing their grievances and expectations and they will see more affordable housing projects in near future.” Untitled-1

After this election, the newly-elected team of office bearers/ executive committee then nominated the following members to the Governing Council Board of CREDAI NCR: Pankaj Bajaj (immediate past president), Rohit Raj Modi (immediate past secretary), Getamber Anand, Sanjeev Srivastva, Prashant Solomon, Manoj Gaur, Vishal Gupta, Rajeev Talwar, Pranav Ansal, Pradeep Jain, KK Goel, Kamal Taneja and Sunil Goel.

West Bengal

Real estate workshop held in Kolkata Untitled-1

CREDAI Bengal and ILEAD jointly hosted a workshop on “How to take your Real Estate Business to the Next Level” on March 2-3 at the ILEAD campus, Kolkata. The workshop served as an educational platform for those belonging to the real estate sector to get enlightened on many important subjects pertaining to it through multiple technical sessions.

The weekend workshop was jointly inaugurated by CREDAI Bengal president Harsh Vardhan Patodia, chairman PS Group Pradip Chopra and Lafarge associate director YK Gupta. Several members from the Eastern India chapters of CREDAI — Raipur, Patna and Ranchi were in attendance in large numbers. The technical sessions were an exciting manual to the interesting aspects of real estate business. There were video presentations on novel construction techniques, cost-saving constructions, new technologies in business and inspirational and a holistic dissertation on family managed businesses which member participants found useful and entertaining.

Impact of union budget 2013 on real estate

Like every year, this year’s Union Budget too threw up many aspects which deserved detailed understanding and analysis. For the real estate sector in West Bengal, it were the newly-introduced Section 43CA and clarifications under Section 56 and 50C which merited a thorough dissection apart from detailed listings of proposals and new policies. So CREDAI Bengal joined hands with KPMG for a post-Union Budget analysis amd its implications on the real estate sector. This special session by KPMG was held at the Bengal Club on March 18. Untitled-1

Asrujit Mandal, director, Tax and Regulatory (corporate tax) and Sanyukta Singh, manager, Indirect Tax presented the session. After the keynote address by CREDAI Bengal president Harsh Vardhan Patodia, the attendees were briefed on taxes and benefits concerning policy developments, highlights of the economic survey, policy proposals, relevant direct and indirect tax proposals. During the question hour session, attendees asked questions on topics ranging from indirect to direct tax incentives.

Realty Expo 2013

The sixth edition of Realty Expo, the largest property fair in eastern India was held at Milan Mela between February 22 and 25. The event was inaugurated by minister-in-charge (transport and sports) Madan Mitra. Also present were CREDAI Bengal president Harsh Vardhan Patodia, vice presidents Nandu Belani and Sushil Mohta, immediate past president Pradeep Sureka, senior members SK Himmatsinghka, Mahesh Agrawal, Prem Jain, Rahul Gupta and Ashok Jaiswal. Untitled-1

As always, the USP of Realty Expo 2013 remained the unmatched array of various genres of poroperties that a customer could not only compare and choose between in the same price segment but also consult with a bank right at the venue to enquire about the possibility of getting a home loan.

The Expo was attended by over 14,000 visitors. On the last day, prizes were given away for the best stall by virtue of its aesthetics, functionality and consumer-friendliness.

Bengal Builds highlights real estate sector problems before chief minister Mamata Banerjee Untitled-1

A three-day conclave on Urban Infrastructure Development, Bengal Builds, was successfully hosted jointly by the Government of West Bengal and Confederation of Real Estate Developers’ Associations of India (CREDAI) Bengal between November 29 and December 1, 2012, at Milan Mela, Kolkata.Untitled-1

Bengal Builds had germinated with the objective of engaging with the present government in a bid to make conspicuous some of the issues plaguing the sector and also to highlight the transformational role of the sector vis-à-vis its huge revenue and employment generation capacity and the integral role it plays in infrastructure creation beyond the ambit of housing. The summit gave realty developers of the state an opportunity to press themselves before chief minister Mamata Banerjee.

The organisations that copresented the event were Kolkata Metropolitan Development Authority (KMDA), Housing Infrastructure Development Corporation Limited (HUDCO), Nabadiganta Industrial Township Authority (NDITA), Asansol-Durgapur Development Authority (ADDA), Haldia Development Authority (HDA), Siliguri-Jalpaiguri DUntitled-1evelopment Authority (SJDA) and West Bengal Highway Development Corporation Limited (WBHDCL).

Bengal Builds had envisioned development regeneration in the state through sustained infrastructure building and had been planned with the objective to trigger growth potential. As a major calendar event, Bengal Builds will be remembered as three days of immense brainstorming for the shaping up infrastructural dreams which would ultimately lead to a better Bengal. The response to the event and the active participation of all concerned both in the exhibition and the seminar made Untitled-1Bengal Builds journey a memorable one. One is hopeful that the newly-formed task force, as announced from the Bengal Builds stage, would serve as a kind acknowledgement of the state government to involve infrastructure creators in future policy-driving and ultimately aid in delineating a strategy to carve out policy frameworks to mitigate the challenges thrown up by the demand for social and urban infrastructure creation.


Unleashing the next wave of real estate development in Maharashtra Untitled-1

CREDAI-Maharashtra organised a training programme for the benefit of the members of city associations on February 22-23 at Lavasa, Pune, with the motto to Unleashing the Next Wave of Real Estate Development in Maharashtra. The seminar was attended by more than 450 members from all over the state and archived a grand success from the feedback received from the participants representing 21 cities. This was for the first time that such a large number of members attended an convention organised by the State Federation of Builders/ Developers Association. Untitled-1

The subjects covered in the seminar by the eminent speakers included Challenges and Opportunities in Infrastructure & Real Estate Development to support progress by Hindustan Construction Company Limited chairman Ajit Gulabchand and Kumar Urban Limited chairman Lalit Kumar Jain; Providing Vision and Promoting Cities: New and sustainable systems and practices in City Governments in Developed Countries by PCMC commissioner Shrikar Pardeshi; Luxury Real Estate: Marketing, Branding & Leasing by Panchshil Realty chairman and CEO Atul Chordia; Presentation on Kushal Training Programme by Shroff Group owner and director JP Shroff; Proposed Acts, Rules & Regulations affecting Real Estate Business by Kalpataru Construction director Suhas Merchant, Ambience Promoters & Developers Pvt Ltd director Rajesh Choudhari and Naiknavare Developers director Hemant Naiknavare; Effective Joint-Venture Arrangement on Luxury Housing by Marvel Realtors CMD Vishwajeet Jhavar, Dreams Group on Affordable Housings director (sales & marketing) Rajesh Kothari and Magarpatta on owner MD Satish Magar; Future of Real Estate in Maharashtra by Hiranandani Group of Companies MD Niranjan Hiranandani; Accounting Practices, Private Equity and Capital Market by Capital Markets by Jones Lang Lasalle managing director Shobhit Agarwal and Nishith Desai Associates’ Ruchir Sinha; Survey Search & Seizure: Income Tax, Service Tax and VAT by VL Jain & Co on Income Tax founder and seniormost partner VL Jain, Chartered Accountant on Service Tax Sagar Shah and Chartered Accountant on VAT Prem Chatpar; Effective Site Management & Construction Cost-Saving & New Construction Technologies by Magarpatta technical director Umesh Magar and Nyati Group CMD Nitin Nyati and Branding and Marketing Strategies by DS Kulkarni Developers Ltd director DS Kulkarni.

Pulse polio vaccination camp for construction site labourers’ kids Untitled-1

CREDAI Pune Metro organised Pulse Polio Vaccination Camps for the children of construction site labourers. These camps were held at 324 construction sites (CREDAI members’ projects) across Pune district where more than 25,000 children were given polio drops. The inauguration event was held at the Amrut Ganga Site of Goel Untitled-1Ganga Group on Sinhagad Road. Present on the occasion were World Health Organisation, Pune Senior Medical Officer Dr Narula; Labour Welfare Committee chairman Anuj Bhandari; Immunisation Officer, Health department, Pune Dr Sanjeev Wavare, and CREDAI Pune Metro director Dr DK Abhyankar.

Speaking at the occasion, Dr Narula said, “Today, there are no cases of polio but we must consistently work in order to never come across one. CREDAI’s initiative is appreciable step towards eradicating polio completely.”

 Master checkup camp for staff of builders and developers Untitled-1

CREDAI-Pune Metro has been conducting CSR activities on a regular basis which includes organising health checkup camps. Moving one more step ahead from regular health checkup camps, it conducted a master checkup camp not only for directors/ partners but also for staff of builders/ developers and their family members. This time, CREDAI organised a Master Checkup Camp for the staff of Vasudha Landmarks at Vasudha House in Baner. More than 50 staff members underwent a complete health checkup. Present on the inauguration of the camp were Umesh Kothawade (Wani), MD of Vasudha Landmarks, Anuj Bhandari, Dr DK Abhyankar and other labour welfare committee members.

Speaking about the Master Checkup Camp, Bhandari said, “Health issues must always be seriously addressed. One can never predict an upcoming accident and hence it’s always better to take appropriate precautions at the right time. The Master Checkup plan will enable the staff members to get a complete checkup done and prevent from any health risks.”

New Delhi

CREDAI’s extraordinary general body meeting Untitled-1

The Extraordinary General Body Meeting of CREDAI at Sovereign Hall, Hotel Le Meridien, in New Delhi on March 30. All the members were welcomed on the occasion by Pradeep Jain. At the outset, he mentioned that under the dynamic leadership of Untitled-1Lalit Kumar Jain, CREDAI team Untitled-1has been working very hard on various important issues confronting the real estate sector and that CREDAI has consolidated to reach 128 cities in 22 states through 20 member associations with a total membership of over 9,000 members which has almost doubled since this team had taken over around two years back. For wider representation at the national level and to have focussed, concentrated and result-oriented deliberations, CREDAI had formed over Untitled-130 sub-committees to take care of various issues and respective agendas which has helped CREDAI to emerge as a robust organisation ready to confront challenges and face them head-on, be it draft policies of the Government or resolving issues through Consumer Redressal Forums to give customers of real estate the best and fair deals. Pradeep Jain drew the attention of all present to apprise that CREDAI, in these two years, has delved into almost every aspect of eeal estate and given representations to the Central and state governments for redressal of issues and offered assistance to the authorities in making better policies and doinUntitled-1g away cumbersome transactions so that transparent and timely delivery of commitments could be expedited. Untitled-1

CREDAI has undertaken various initiatives to mobilise branding, image makeover and recognition of its members, some of which are Code of Conduct for self-regulation and setting up of Consumer Redressal Forums through its city chapters; submitted draft model building and development for single window approval concept to the concerned Central ministries and departments and the same was so extensively publicised that it reached all the states; CREDAI declared that housing can be made affordable if single window concept is implemented by the government; CREDAI propagated carrying of its logo on all ads of the member companies; taxation issues, which has an impact of 33 per cent on total cost which includes rationalisation of taxes, avoidance of double taxation, uniformity in service tax and VAT, tax holiday for housing projects, industrial parks and townships of 10 acres or more under 80-IB(10), 80-IA(4) and 80 IA respectively.


» A historic interactive meeting with Competition Commission of India.
» CSR activities through its member associations wherein CREDAI member associations have received a lot of recognition from state government and other authorities.
» CREDAI’s partnerships with eminent brands for the benefit of the real estate sector
» CREDAI-GRIHA and CREDAI–IGBC collaborations to promote green building and educational and awareness programmes for the construction of green buildings
» CREDAI-IIM Bengaluru signed Memorandum of Understanding – for preparing real estate professionals for their transformation towards visionary leadership through a business leadership programme.
» A historic event in the form of a Round Table Conference, organised by CREDAI and HUDCO which was presided over by Arun K Misra, secretary, Ministry of Housing and Urban Poverty Alleviation, Government of India, on affordable housing was held on February 25-26 2012 in Goa.
» CREDAI has since published a book on affordable housing that includes presentations, suggestions, recommendations and the outcome of the Round Table Conference which has been submitted to the Ministry of HUPA and other concerned ministries at the Centre and state levels.
» To make Mission Transparency a buzzword in construction sector
» To increase the scope of research in realty and construction sector
» Sushil Mantri has set an example by creating uniform documents on best practices and has also given fillip to CREDAI’s website.

CREDAI journal renamed CREDAI times Screen shot 2013-06-03 at 4.56.48 PM

During this meeting, Pradeep Jain drew the attention of the members to the CREDAI Journal that was being published under the guidance of Balakrishna Hegde who has been instrumental in bringing it up to world-class standards. He proposed and suggested that the journal be changed to a magazine and the name too should be changed from Real Estate Review to Credai Times. Thereafter, the magazine has transformed with fruitful editorial and reading material. The work of Balakrishna Hegde has received accolades for the same. This responsibility has now been entrusted to Sanjeev Srivastva who has brought out the last two editions of the magazine.

Successful representation on various committees and task forces of the government

» Member of Steering Committee on Urban Development of Planning Commission of India for 12th Five Year Plan.
» Member of the task force for developing transparent qualified criteria and a separate set of Guidelines for Affordable Housing in PPP projects.
» Member of the project steering committee for the project on UNDP/GEF assisted Global Solar Water Heating Project being implemented by Ministry of Renewable Energy.
» CREDAI represented before the Standing Committee on Land Acquisition & Rehabilitation & Settlement Bill and was successful in communicating its concerns that ‘private purchases’ should be excluded as it is purchase.

The new governing body of CREDAI

Untitled-1 Untitled-1 Untitled-1 Untitled-1 Untitled-1 Untitled-1 Untitled-1 Untitled-1 Untitled-1 Untitled-1 Untitled-1 Untitled-1 Untitled-1

(Top row): Lalit Kumar Jain, CREDAI chairman and CMD, Kumar Urban Development Ltd; C Shekar Reddy, President, CREDAI; MD, CSR Estates Ltd; Getamber Anand, president elect, CREDAI & MD, ATS Group; Jaxay Shah, vice president, CREDAI & MD, Savvy Infrastructure (P) Ltd.; Sanjeev Srivastva, vice president, CREDAI & MD, Assotech Limited; Sushil Mantri, vice president, CREDAI and CMD, Mantri Developers (P) Ltd.; Satish Magar, vice president, CREDAI & CMD, Magarpatta Township Development. (Bottom row): Harsha Vardhan Patodia, vice president, CREDAI & MD, Regent Hirise (P )Ltd; Vijay Mirchandani, honorary secretary, CREDAI & MD, Mirchandani Group; Anurag Sharma, honorary joint secretary, CREDAI & director, Alokik Buildcon (P) Ltd; DS Tripathy, honorary joint secretary, CREDAI and MD, Lord Real Estates Developers & Builders (P) Ltd.; Shekhar G Patel, honorary treasurer, CREDAI and MD, Ganesh Housing Corporation Ltd; Amardeep Singh Hira, Chairperson, Co-ordination Committee CREDAI Youth Wing & Chairman, Shivalik Group of Companies

Formation of CREDIA youth wing

The formation of CREDAI’s youth wing was the brainchild of Lalit Kumar Jain which he suggested during third quarter of 2012. The main idea was to infuse new zeal, vigour and thoughts into the mainstream through which CREDAI brand can take to further heights. Pradeep Jain mentioned that the amount of energy, time and expertise put in by the chairmen of various sub-committees, the list is so large that to mention everyone’s name is difficult but all are really worthy of appreciation.

An event was organised after EGM in which the new team of office-bearers for the term beginning April 1, 2013, till March 31, 2015, was installed, a coffee table book was launched and the CREDAI Youth Wing Board was installed by Arun Mishra, secretary (housing) who was the guest of honour. Untitled-1

The event was attended by Sushil Kumar, additional secretary (housing) and Dr BR Mani, additional director general, Archaeological Survey of India. The congregation was addressed by CREDAI chairman Pradeep Jain, CREDAI president Lalit Kumar Jain, incoming new president C Shekar Reddy and vice presidents Getamber Anand and Jaxay Shah. Their speeches demonstrated the conviction of CREDAI and accomplishment of the responsibilities to which CREDAI was committed. A promise was evident from their speeches for the real estate sector in the future. CREDAI’s role to shape up the realty sector would be significant and it was announced that CREDAI will contribute to its maximum as a mentor for its members and a helping hand for the Government. Untitled-1

During his speech, Mishra mentioned that during the past two years, CREDAI had contributed a lot and helped the Government with vital inputs on various fronts for the real estate industry about which Lalit Kumar Jain eloquently mentioned in his speech. He mentioned that with CREDAI’s contributions have been immense in the past and that the three Task Force Reports ie affordable housing, rental housing and simplifying of processes will be submitted in the Ministry which it is hopeful of getting implemented in the coming couple of years. The Vote of Thanks was delivered by Getamber Anand, vice president, CREDAI. In addition to thanking all the dignitaries on the dais and the friends from the media, he congratulated the incoming new team and he mentioned that actually it is the members of CREDAI who are the ones because of whom they are what they are in the organisation, as their representatives. This followed a huge round of applause and the event came to a close with memento presentation to the Government dignitaries.


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