Latest news with #ConfederationofRealEstateDevelopers'AssociationsofIndia
Time of India
14 hours ago
- Business
- Time of India
Hasiru Hubballi-Dharwad launched
Hubballi: The Confederation of Real Estate Developers' Associations of India (CREDAI) launched 'Hasiru Hubballi-Dharwad' in collaboration with Hubballi-Dharwad Urban Development Authority (Huda) by planting saplings at Sangolli Rayanna Nagar Public Park on Saturday. This initiative aims to create green spaces across twin cities. Huda chairman Shakir Sanadi inaugurated the event. Huda commissioner Santosh Biradar, CREDAI president Gururaj Annigeri, office bearers Ismail Sanushi, Amrut Mehrwade, Shivanna Patil, Arbaaz Saunshi, Shripad Shejwadkar, Akash Habib, Suresh Shejwadkar, R. Shivanna, HDMC DDTP Pragna Prakash, journalist Mallikarjun Siddannavar, and others were present on the occasion. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Hans India
7 days ago
- Business
- Hans India
Guv asks builders to invest in Tier-2 & 3 cities
Bhubaneswar: Odisha Governor Hari Babu Kambhampati has called upon real estate developers to invest in Tier II and III cities for balanced urbanisation and ensuring sustainable development. He also stressed the need for ethical business practices and customer-centric models to build trust in the sector. 'Odisha stands at a critical inflection point - emerging as the growth engine of Eastern India. Smart cities like Bhubaneswar and Rourkela, Bhubaneswar-Cuttack-Puri Corridor and major industrial corridors are unlocking immense potential,' he said. Addressing an Extraordinary General Meeting (EGM) of the Confederation of Real Estate Developers' Associations of India (CREDAI) on Friday, the Governor said, 'The real estate developers should focus on Tier-2 and 3 cities for balanced urbanisation and invest in affordable housing, green development and digital infrastructure.' The EGM of the association returned to Odisha after a nine-year gap. The event brought together a distinguished panel of national leaders, developers, policymakers and stakeholders to deliberate on the future of real estate, investment prospects and sustainable urban development. The CREDAI president, Shekhar G Patel, highlighted the evolution of Bhubaneswar over the last decade, stating, 'From a twin city, we now see a vision for a dynamic Tri-city cluster comprising Bhubaneswar, Cuttack and Puri. This region is poised to be one of India's top 50 urban centres.' He underscored the contribution of the real estate sector to India's economy. 'Currently contributing 8.4 per cent to India's GDP, it is the second-largest employment generator after agriculture. With RERA streamlining the industry, 95 per cent of the sector is now organised. By 2030, it is projected to become a USD 1 trillion sector, contributing 10 per cent to the GDP.' The CREDAI Bhubaneswar president and MLA Sofia Firdous said with strategic central initiatives like the Smart City Mission, Bhubaneswar is emerging as the real estate capital of Eastern India.
Time of India
03-08-2025
- Business
- Time of India
Odisha governor asks real estate developers to invest in tier II & III cities
BHUBANESWAR : Odisha Governor Hari Babu Kambhampati has called upon real estate developers to invest in tier II and III cities for balanced urbanisation and ensuring sustainable development. He also stressed the need for ethical business practices and customer-centric models to build trust in the sector. "Odisha stands at a critical inflection point - emerging as the growth engine of Eastern India. Smart cities like Bhubaneswar and Rourkela, the Bhubaneswar-Cuttack-Puri Corridor, and major industrial corridors are unlocking immense potential," he said. Addressing an Extraordinary General Meeting (EGM) of the Confederation of Real Estate Developers' Associations of India (Credai) on Friday, the governor said, "The real estate developers should focus on tier-2 and 3 cities for balanced urbanisation and invest in affordable housing, green development, and digital infrastructure." The EGM of the association returned to Odisha after a nine-year gap. The event brought together a distinguished panel of national leaders, developers, policymakers, and stakeholders to deliberate on the future of real estate, investment prospects, and sustainable urban development. Credai president Shekhar G Patel highlighted the evolution of Bhubaneswar over the last decade, stating, "From a twin city, we now see a vision for a dynamic tri-city cluster comprising Bhubaneswar, Cuttack, and Puri. This region is poised to be one of India's top 50 urban centres." He underscored the contribution of the real estate sector to India's economy. "Currently contributing 8.4 per cent to India's GDP, it is the second-largest employment generator after agriculture. With RERA streamlining the industry, 95 per cent of the sector is now organised. By 2030, it is projected to become a USD 1 trillion sector, contributing 10 per cent to the GDP." Credai Bhubaneswar president and MLA Sofia Firdous said that with strategic central initiatives like the Smart City Mission, Bhubaneswar is emerging as the real estate capital of Eastern India.
Mint
02-08-2025
- Business
- Mint
Odisha Guv asks real estate developers to invest in tier 2 & 3 cities
Bhubaneswar, Aug 2 (PTI) Odisha Governor Hari Babu Kambhampati has called upon real estate developers to invest in tier II and III cities for balanced urbanisation and ensuring sustainable development. He also stressed the need for ethical business practices and customer-centric models to build trust in the sector. 'Odisha stands at a critical inflection point - emerging as the growth engine of Eastern India. Smart cities like Bhubaneswar and Rourkela, the Bhubaneswar-Cuttack-Puri Corridor, and major industrial corridors are unlocking immense potential,' he said. Addressing an Extraordinary General Meeting (EGM) of the Confederation of Real Estate Developers' Associations of India (Credai) on Friday, the governor said, "The real estate developers should focus on tier-2 and 3 cities for balanced urbanisation and invest in affordable housing, green development, and digital infrastructure." The EGM of the association returned to Odisha after a nine-year gap. The event brought together a distinguished panel of national leaders, developers, policymakers, and stakeholders to deliberate on the future of real estate, investment prospects, and sustainable urban development. Credai president Shekhar G Patel highlighted the evolution of Bhubaneswar over the last decade, stating, 'From a twin city, we now see a vision for a dynamic tri-city cluster comprising Bhubaneswar, Cuttack, and Puri. This region is poised to be one of India's top 50 urban centres.' He underscored the contribution of the real estate sector to India's economy. 'Currently contributing 8.4 per cent to India's GDP, it is the second-largest employment generator after agriculture. With RERA streamlining the industry, 95 per cent of the sector is now organised. By 2030, it is projected to become a USD 1 trillion sector, contributing 10 per cent to the GDP.' Credai Bhubaneswar president and MLA Sofia Firdous said that with strategic central initiatives like the Smart City Mission, Bhubaneswar is emerging as the real estate capital of Eastern India.
Mint
02-08-2025
- Business
- Mint
Residential launches dip by 5% in H1 CY25 amid market caution, rising costs: Credai
New Delhi [India], : India's residential real estate sector has witnessed a slowdown in new project launches, with the number of units introduced in the first half of calendar year 2025 falling to approximately 2.6 lakh, compared to around 3 lakh units during the same period last year. This represents a decline of nearly 5 per cent, signaling a more cautious approach by developers amid evolving market dynamics. "The number of units launched across India has been declining, from approximately 3 lakh units in H1 CY'24 to about 2.6 lakh units in H1 CY'25 a decline of around 5%," the report released by the Confederation of Real Estate Developers' Associations of India in collaboration with CRE Matrix reveals. The data of pan India market performance in the first half shows that Tier 1 cities across India recorded housing sales worth approximately ₹ 3.6 lakh crore, marking a 9 per cent increase from ₹ 3.3 lakh crore in H1 CY 2024. The July edition of CREDAI's India Housing Report shows that the the National Capital Region boosted its position, with its share of total revenue rising from 23 per cent to 26 per cent over the same period. Luxury flats priced above ₹ 3 crore accounted for 73 per cent of NCR's sales value, despite a modest volume of 25,000 units sold. The Mumbai Metropolitan Region followed closely with a 23 per cent revenue share, recording a 9 per cent growth in sales value and 75,000 units sold, with a 16 per cent increase in average ticket size. In contrast, Hyderabad's revenue market share dropped significantly from 21 per cent in H2 CY'23 to just 16 per cent in H1 CY'25. Meanwhile, on the positive side, the average ticket size of homes sold has increased sharply. The average ticket size climbed from ₹ 1.13 crore in H2 CY23 to ₹ 1.42 crore in H1 CY25, the data shows. In the south, Chennai emerged as a standout performer, achieving a 23 per cent increase in sales value with 11,000 units sold and a 12 per cent rise in average ticket size. New launches in Chennai grew from 14,000 to 19,000 units, though the market share of homes below ₹ 70 lakh dropped from 23 per cent to 17 per cent. Bengaluru maintained steady growth with a 4 per cent increase in sales value and 30,000 units sold, supported by a 17 per cent rise in ticket size. However, the share of homes priced between ₹ 70 lakh and ₹ 1.5 crore declined from 38per cent to 32 per cent. Hyderabad, while recording a modest 2 per cent increase in sales value, saw 11 per cent drop-in units sold but a doubling of new launches from 23,000 to 42,000 units, indicating developer optimism despite slower absorption, the report added. This article was generated from an automated news agency feed without modifications to text.
