Latest news with #ConfederationofRealEstateDevelopers'AssociationsofIndia
The Hindu
21-05-2025
- Business
- The Hindu
Give faster approvals for projects: CREDAI
The Confederation of Real Estate Developers' Associations of India (CREDAI) Tamil Nadu, the apex body of private real estate developers in the State, has requested the Tamil Nadu government to give faster approvals for real estate projects. Noting that real estate plays a very important role for the State to achieve its $1 trillion economy goal, W. S. Habib, president, CREDAI Tamil Nadu and Chairman and Managing Director of RWD, said that there needs to be a single window clearance for real estate projects. 'Losses keep mounting if approvals get delayed,' he said. 'Streamlining approvals and simplifying compliance will unlock tremendous value for developers and homebuyers. This will also help the State government in terms of stamp duty collections and GST collections,' Mr. Habib said. It is learnt that approvals are getting late by 8-9 months. The CREDAI head also said that the association would like to be a part of planning of masterplans for all 135 major cities and towns across the State. 'We need clarity on the masterplan – this will help our developers to understand where they can buy land and whether they would get approvals or not,' he added. Srikumar Swaminathan, Secretary of CREDAI Tamil Nadu, highlighted about the rising raw material costs in the real estate sector. He also indicated that there are issues with sourcing certain raw materials. According to him, the price increase is between 30%-40%. In a move to deepen its Statewide presence, CREDAI Tamil Nadu announced the expansion of its chapter network. With 10 existing chapters, the association plans to add 5 to 6 more in key growth corridors, including Sivagangai, Vellore, Karur, the Nilgiris, and Thanjavur, enabling better regional representation and local advocacy. CREDAI Tamil Nadu will also be conducting annual international expos under the 'FAIRPRO' brand in Dubai, Muscat, Abudhabi, Riyadh, Doha and Singapore, aimed at attracting NRI investments and showcasing Tamil Nadu's real estate strengths on the world stage. Both Mr. Habib and said that a lot of NRIs are keen on picking properties in Tamil Nadu.
Time of India
05-05-2025
- Business
- Time of India
Residential sales in Chennai grows 27% in Q1 2025: CREDAI
The residential real estate market in the city and its neighbourhood has commenced 2025 on a positive note with a strong recovery and increasing buyer confidence, a report by the industry body CREDAI said. Sharp growth in registrations, steady sales of the residential units and a resilient housing market has emerged in the January-March 2025 period, the study prepared by the Confederation of Real Estate Developers' Associations of India (CREDAI), Chennai said on Sunday. Projects nearing completion or ready-to-occupy continued to be the preferred choice among buyers, it said. The recent reduction in the repo rate by the Reserve Bank of India and the Central government's revised income tax slabs has further supported buyer sentiment, particularly among first time buyers, the report said. Sales of residential units grew 7 per cent quarter on quarter to 3,783 units during the three month period while it was 27 per cent growth year-on-year. Southern suburbs accounted for the majority of the project registrations with the demand being driven by the improved infrastructure, Metro Phase II project, among others. Areas like Parandur where the proposed airport is expected to come up, Minjur, Chengalpattu and Sriperumbudur were also largely preferred by the buyers. "These locations are expected to witness continued momentum in the coming quarters," it said. CREDAI Chennai President A Mohamed Ali said, "the Government's focus on inclusive urban development through schemes and new infrastructure investments in suburban corridors is enhancing liveability and making homeownership more accessible to a wider section of the population." "We are seeing measured optimism in the market. Developers are taking a calibrated approach to new launches while strengthening regulatory compliance. The result is a more mature, balanced housing sector ready to scale with upcoming urbanisation," he said. The total residential unit registrations across Tamil Nadu stood at 9,480 units during the January-March 2025 quarter, marking a 24 per cent increase quarter on quarter. These numbers reinforce the broader market rebound, led by strong participation from established developers and an improving policy environment, the study said. "We expect this momentum to carry through into the next quarter as well, especially with infrastructure-led locations attracting renewed investor and end-user interest" commented CREDAI Chennai Secretary Aslam Packeer Mohamed.
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Business Standard
04-05-2025
- Business
- Business Standard
Infra boost, lower repo rates, ready units aid market recovery: CREDAI
The residential real estate market in the city and its neighbourhood has commenced 2025 on a positive note with a strong recovery and increasing buyer confidence, a report by the industry body CREDAI said. Sharp growth in registrations, steady sales of the residential units and a resilient housing market has emerged in the January-March 2025 period, the study prepared by the Confederation of Real Estate Developers' Associations of India (CREDAI), Chennai said on Sunday. Projects nearing completion or ready-to-occupy continued to be the preferred choice among buyers, it said. The recent reduction in the repo rate by the Reserve Bank of India and the Central government's revised income tax slabs has further supported buyer sentiment, particularly among first time buyers, the report said. Sales of residential units grew 7 per cent quarter on quarter to 3,783 units during the three month period while it was 27 per cent growth year-on-year. Southern suburbs accounted for the majority of the project registrations with the demand being driven by the improved infrastructure, Metro Phase II project, among others. Areas like Parandur where the proposed airport is expected to come up, Minjur, Chengalpattu and Sriperumbudur were also largely preferred by the buyers. "These locations are expected to witness continued momentum in the coming quarters," it said. CREDAI Chennai President A Mohamed Ali said, "the Government's focus on inclusive urban development through schemes and new infrastructure investments in suburban corridors is enhancing liveability and making homeownership more accessible to a wider section of the population." "We are seeing measured optimism in the market. Developers are taking a calibrated approach to new launches while strengthening regulatory compliance. The result is a more mature, balanced housing sector ready to scale with upcoming urbanisation," he said. The total residential unit registrations across Tamil Nadu stood at 9,480 units during the January-March 2025 quarter, marking a 24 per cent increase quarter on quarter. These numbers reinforce the broader market rebound, led by strong participation from established developers and an improving policy environment, the study said. "We expect this momentum to carry through into the next quarter as well, especially with infrastructure-led locations attracting renewed investor and end-user interest" commented CREDAI Chennai Secretary Aslam Packeer Mohamed.
Time of India
04-05-2025
- Business
- Time of India
Improved infrastructure, cut in repo rates, ready to occupy units aid market recovery: CREDAI
The residential real estate market in the city and its neighbourhood has commenced 2025 on a positive note with a strong recovery and increasing buyer confidence, a report by the industry body CREDAI said. Sharp growth in registrations, steady sales of the residential units and a resilient housing market has emerged in the January-March 2025 period, the study prepared by the Confederation of Real Estate Developers' Associations of India (CREDAI), Chennai said on Sunday. #Pahalgam Terrorist Attack India much better equipped to target cross-border terror since Balakot India conducts maiden flight-trials of stratospheric airship platform Pakistan shuts ports for Indian ships after New Delhi bans imports from Islamabad Projects nearing completion or ready-to-occupy continued to be the preferred choice among buyers, it said. The recent reduction in the repo rate by the Reserve Bank of India and the Central government's revised income tax slabs has further supported buyer sentiment, particularly among first time buyers, the report said. Sales of residential units grew 7 per cent quarter on quarter to 3,783 units during the three month period while it was 27 per cent growth year-on-year. Southern suburbs accounted for the majority of the project registrations with the demand being driven by the improved infrastructure, Metro Phase II project, among others. Areas like Parandur where the proposed airport is expected to come up, Minjur, Chengalpattu and Sriperumbudur were also largely preferred by the buyers. "These locations are expected to witness continued momentum in the coming quarters," it said. Live Events CREDAI Chennai President A Mohamed Ali said, "the Government's focus on inclusive urban development through schemes and new infrastructure investments in suburban corridors is enhancing liveability and making homeownership more accessible to a wider section of the population." "We are seeing measured optimism in the market. Developers are taking a calibrated approach to new launches while strengthening regulatory compliance. The result is a more mature, balanced housing sector ready to scale with upcoming urbanisation," he said. The total residential unit registrations across Tamil Nadu stood at 9,480 units during the January-March 2025 quarter, marking a 24 per cent increase quarter on quarter. These numbers reinforce the broader market rebound, led by strong participation from established developers and an improving policy environment, the study said. "We expect this momentum to carry through into the next quarter as well, especially with infrastructure-led locations attracting renewed investor and end-user interest" commented CREDAI Chennai Secretary Aslam Packeer Mohamed.
Time of India
23-04-2025
- Business
- Time of India
Minimum wage hike may trigger pricerise, hit jobs: Karnataka industry bodies
Bengaluru: Industry bodies have warned the state govt that its proposed minimum wage increase could trigger widespread price rises affecting everything from clothing to construction, with the financial burden ultimately falling on consumers. The Karnataka chapter of the Confederation of Real Estate Developers' Associations of India (Credai) has expressed serious concerns about the impact on housing prices. A Credai board member said: "At a national level, costs are already rising — from construction materials to basic living expenses. With the added wage burden, input cost will escalate, and builders alone won't be able to absorb it. This will eventually be passed on to homebuyers." "While marginalised groups are getting free power and subsidies, the govt must be cautious about policies that create a cascading effect on the sector. If the proposal is implemented, housing prices will go up by at least 40%. We don't view this move positively and will be submitting our objections to the govt," the member added. "With the cost of labour going up, builders will look at employing fewer people. All industries might slowly shift towards machinery instead of hiring people," he said. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo The Federation of Karnataka Chambers of Commerce and Industry (FKCCI) president MG Balakrishna urged the govt to reconsider the "abrupt wage hike proposal, which lacks consultation with stakeholders and does not reflect ground realities." "The move raises serious questions about the rationale behind the increase, especially at a time when industries are grappling with rising input costs and reduced margins." Peenya Industries Association president Shivakumar R warned that garment industries are among the worst hit—many of them are micro-units employing 100-200 workers, mostly women. "With profit margins already down to 5–7%, they simply cannot absorb the steep hike in minimum wages. One unit in Kengeri with 800 workers has decided to shift operations out of Karnataka. That means 3,200 lives are impacted if you count the families. If this policy isn't reviewed, many more garment units will shut down or move to neighbouring states, leading to massive job losses. This might even drive garment prices up," he said. Defending the proposal, Ravi Kumar SB, joint labour commissioner (child cell and minimum wages), said the govt took the decision after considering all factors and calculations done as per the Minimum Wages Act. ——— QUOTE "It (minimum wage increase proposal) is still a draft, and we are waiting for the response from people. After that, we will discuss the issue threadbare before coming to a conclusion. It's not a sudden decision, and talks have been going on for quite some time -Ravi Kumar SB, joint labour commissioner
