OST Business Bureau
Bhubaneswar, Dec 3:
Confederation of Real Estate Developers’ Association of India (CREDAI), an apex body of real estate developers of India, will hold a two-day national conclave with the theme ‘Housing: The Game Changer – Leading to double-digit GDP growth’ at JW Marriott Hotel in New Delhi from December 13, 2013.
Briefing newsmen here, CREDAI National Chapter vice-president Sanjeev Srivastava said, “The real estate sector is the largest generator of economic activity, contributing 6.3 per cent to the country’s GDP. To maximise this growth to double digit, CREDAI is making a focused attempt to synergise all ongoing efforts to create a common platform on a large scale for policy makers, its members and representatives from allied industries to understand the present scenario and markets across the country and engage in the vision for the sector.”
The housing sector has an enormous potential in the coming decade since urbanization has been increasing at an unprecedented rate, with almost 71 million people having been added to the urban population from 2001 to 2011, Srivastava said. “At this rate, close to 534 million people (greater than the combined population of the United States, Russia, and France) will live in Indian cities by 2026,” he said.
Policy makers from Union Ministry of Housing and. Urban Poverty Alleviation (HUPA), Deputy Chairman of Planning Commission, Chief Ministers from various states, heads of financial institutions along with the top industry leaders will share their views during the two-day conclave.
Over the past two years, stagnating global economic conditions have led to a decline in GDP growth to 5 per cent. However, to dispel the general feeling of gloom, the Government has continued to maintain its momentum of introducing structural reforms in the economy. “CREDAl aims at giving the sector a fillip through governmental and policy decisions so that it becomes a propeller of growth in the country,” said DS Tripathy Joint Secretary, CREDAI national chapter.