Role of CREDAI in real estate

Real estate developers are assigned a crucial role in the real estate sector. CREDAI or Confederation of Real Estate Developer’s Associations of India, established in 1999, is the apex body for all private real estate developers in India. It is an autonomous body representing over 9,000 developers from many states and cities. CREDAI works closely with policy makers, finance companies, government representatives, consumers, investors and real estate professionals to organize and bring transparency to the real estate industry. It is necessary for the development of real estate sector and for the eradication of black money and red-tapism. CREDAI’s primary goal is to disseminate information regarding realty industry and promote housing and developments in the sector. These activities are intended to fuel economic growth. CREDAI works towards creating a more organized, forward- looking and progressive real estate industry. 
CREDAI plays an important role in establishing a link between customer requirements and the construction industry. It provides services to areas like housing, office space, and retail and hospitality sectors. Here are some roles assigned to CREDAI –

1. Facilitate- CREDAI is responsible for bringing all the private developers on a common platform by means of various events and discussions.  The builders raise their concerns and get expert advice from real estate analysts on this platform. To this end, CREDAI organizes workshops, seminars, round tables and a large annual real estate conference, NATCON. CREDAI also commissions studies when needed.
2. Serve- CREDAI raises issues regarding developers and builders in government forums.  It is responsible for acting as an SPOC (single point of contact) for the latest development in the realty sector and suggests changes in policies too. Its services include making representations, raising relevant issues and uniting the developers. CREDAI  helps its members gain expert advice on various matters.
3. Prosper- CREDAI is committed towards sustainable and prospering real estate industry. It makes sure that real estate has a constant demand for residential spaces, commercial spaces, retail facilities and other infrastructure development. CREDAI supports its members in gaining recognition as professional organizations.  Members have to follow CREDAI’s Code of Conduct which provides clear guidelines for developers to serve customers in an ethical and transparent manner, giving the community credibility and professionalism.
4. Promote- CREDAI promotes professionalism. It guides its members in establishing a good professional relationship to serve their customers.  It promotes a good picture of real estate before the media, customer and the government through events, workshops, and grievance redressal cells.
5. Build- CREDAI is involved in developing a good relationship between builders and the government through debates representations and active participation in all meetings called by the government to take opinion and feedback from the industry. Apart from this, it also maintains a healthy relationship with international organizations. CREDAI is keen on gaining partnership and has developed a strong relationship with the government through interactions with the Ministry of Urban Development, Ministry of Housing and Poverty Alleviation, the Planning Commission, Ministry of Environment and Forests, and others.  It works hand in hand with the government on areas of common interest and it provides an integrated industry viewpoint on aspects such as policy and regulation.

 
CREDAI should ensure that: 

1. Super area, build up area, and carpet area should be declared FIRMLY
2. Builders do not ask for parking charges as they are ILLEGAL 
3. Advertisements must contain all the details regarding licenses
4. High penalty to be imposed for builders who flout rules, like concealing any legal information.
5. EDC, IDC calculations should be shared with buyers and amount paid to regulatory authorities should be known to them as well. 

In order to maintain integrity and transparency in the realty sector, CREDAI lays down certain rules that need to be followed. CREDAI also voices and represents any proactive policies of the real estate industry in India before the government and other concerned authorities. 
 

Other functions of CREDAI include dissemination of statistical information, the introduction of improved and newer techniques for construction and promotion of workers’ interests etc. It also facilitates easy financing as it is closely associated with many housing finance institutions and banks.
 

A national convention is held each year by CREDAI including several conferences at state or regional levels. It also organizes exhibitions in major Indian cities like Delhi, Bangalore, Mumbai, and Kolkata along with major world trade centers like Dubai (UAE), London, Kuwait, USA, Saudi Arabia and other places